Buy Edelweiss Financial, IGL, Aurobindo Pharma: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Edelweiss Financial is a buy with a stop loss of Rs 190 and target of Rs 205. IGL is a buy with a stop loss of Rs 1,030 and target of Rs 1,100. Aurobindo Pharma is a buy with a stop loss of Rs 670 and target of Rs 705."

"Overall aviation is looking good but you possibly need to buy it on some sort of bad news instead of buying it on good news. However, I would think Rs 150 on SpiceJet should happen at some point," he said.

"GST is over, so probably the logistics play is now over on GATI. So I don’t think GATI is the right thing to do here. I would probably move into an IGL anyway, but housing finance, consumer and stocks which are making new highs look much better," he said.

"Farmers don’t want to payback their loans. You have to stay miles away from microfinance. If you want to be in agri-type stocks, be in something like Chambal Fertiliser, etc. or something like an Avanti Feeds. However, I don’t think MFI is really the way to go. Given the correction in housing finance, possibly those are also fairly decent bets in the financial space. I think these broker turned NBFCs like Edelweiss, IIFL Holdings, etc. are looking extremely good. They have not corrected a whole lot in this correction. So, move on; I don’t think these stocks are going to do much on the upside."