Buy Adani Ports, Ashok Leyland, HPCL, Bata; short Idea Cellular: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I am fairly upbeat. I think we are entering that V-shaped pattern and there are three buying ideas - all collectively going with the same theme."

"Adani Ports is a buy, Ashok Leyland is a buy and Hindustan Petroleum Corporation. All three of them are being bought on the assumption that they have made big lows and bounced off from those lows on Friday. Therefore some kind of a short term support is in place."

"The fourth one is Bata India which is different. Bata never fell in this rally, in this decline. It is just consolidated. That suggests it is a very strong stock. So, Bata is a buying opportunity for the day trader and the swing trader. You could also buy it for a positional trade and carry it for some weeks. It is certainly giving signs of outperformance," he said.

"The short is Idea Cellular. Idea has nothing to commend itself. It is on the verge of breaking down, so, probably an easy short."