Above Rs 315, M&M Financial may test Rs 340; buy ITC, Arvind, sell Axis Bank: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Mahindra & Mahindra Financial Services has been looking particularly good. Once it passes Rs 315, I think it looks like it is heading upto Rs 335-340. Bharat Financial Inclusion is kind of moving flat but this one is showing great momentum on the upside."

"There are a few stocks which are doing well, ITC is a buy with a stop loss of Rs 283 and target of Rs 297. Arvind is a buy with a stop loss of Rs 400 and target of Rs 425. Axis Bank is collapsing so if there is one bank you can really go short on, that is Axis. It has strongly moved lower from its 200-day moving average, so that is a sell with a stop loss of Rs 500 and target of Rs 475," he added.

"State Bank of India (SBI) went down and now it is going up a little bit. I think probably at this point Larsen & Toubro (L&T) looks like a better stock than SBI but since the market is so range bound follow through is difficult to come by.