Buy Cholamandalam Investment; sell India Cements, NMDC: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Cholamandalam Investment is a buy with a stop loss of Rs 1,060 and target of Rs 1,120. India Cements is a sell with a stop loss of Rs 198 and target of Rs 184. NMDC is also a sell with a stop loss of Rs 108 and target of Rs 96."

"In L&T Finance Holdings, you are getting a correction, possibly at some point in the future, you will get Rs 200. So, the idea should be to build positions on L&T Finance as it comes down. So, bull market stocks, all of these NBFCs, the correction should be temporary and you should be building positions on these stocks."

"Hotels, I don’t think are one of the leaders of this bull market. It is a kind of a side sector, probably ignored, so, I don’t think one will get much more from here. Possibly get out of Indian Hotels and get into stocks which have more momentum," he said.

"Rain Industries is a fairly strong stock and possibly in this correction if you have to go down the smaller stocks, it is one of the stocks that you should buy. It is in consolidation right now. The lower end of a consolidation is Rs 90, that is your stop loss. Once we get past this Rs 120 zone, I think easily you should get Rs 145-150," he added.