Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "There are some opportunities in individual stocks. Bharti Airtel after a reasonable correction and decline is giving a buying opportunity. A similar opportunity is coming in Apollo Tyres. Remember tyre stocks have been flying high and then they have been subdued for a few days and perhaps there is some renewal of momentum there."
"There is also a short sell in Oriental Bank of Commerce (OBC). I have been downbeat on PSU banks for a long time and that view continues. So, OBC is a short sell for the day, intraday," he said.
"Sell HDIL, do not hold HDIL because we are not here to do bottom fishing. This market is a bull market. We try to buy stocks that are already in strong upside momentum. Indiabulls Real Estate is one such stock. Even DLF is outperforming as compared to HDIL. So, sell this and if you want to be in real estate, you can choose any one," he said.
"Good stocks can also fall and they can fall for longer than we imagine or we like them to fall. However, we can’t do anything about it. ICICI Prudential Life Insurance
is the only life insurance company that is worth holding on to. It is an outperformer and will remain so. These temporary setbacks are bound to happen when you are looking for a long term bull market. The market does not oblige us by going up every day; it should not. So, my suggestion is hold on to it, don’t get worried by ups and downs. It will double itself in the next three to four years."