Buy Balrampur Chini, Kaveri Seed, Canara Bank; sell M&M: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Balrampur Chini is a buy with a stop loss of Rs 144 and target of Rs 156. Kaveri Seed Company is also a buy with a stop loss of Rs 630 and target of Rs 660."

"Canara Bank is a buy with a stop loss of Rs 354 and target of Rs 372," he added.

"Every bull market creates its own bluechips. These are historical bluechips, Infosys, TCS, Mahindra and Mahindra (M&M). If you see the last one year, they have done nothing. Today’s bluechips are housing finance companies. If you have to be in tractor, maybe move into VST Tillers or Escorts. If you have to be in cars, move into Maruti Suzuki. However, Mahindra & Mahindra is neither here nor there, it is total underperformer and the best way to deal with an underperformer is to sell," he said.