Buy Edelweiss Financial Services, State Bank of India, Dr Reddy's Laboratories: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Edelweiss Financial Services has restarted its rally, so that is a buy with a stop loss of Rs 289 for target of Rs 304."

"State Bank of India is showing some amount of follow through, so that is a buy with a stop loss of Rs 318 for target of Rs 334.  Dr Reddy's Laboratories is also a buy with stop loss of Rs 2,400 for target of Rs 2,520."

"IDBI Bank is not the best performing PSU bank. If you have to look at PSU banks, then you have to go say State Bank of India, Punjab National Bank and Canara Bank. I don’t think IDBI is likely to outperform. In that category Vijaya Bank is much better than IDBI Bank," he said.

"As far as V-Guard Industries is concerned, I think the best way of buying such stocks is when they get bad results. Last quarter I think results were bad, so the stock collapsed to Rs 165. Now it is getting past previous highs so it can move forward, but the right time to buy would be closer to say Rs 200-205."