Ashwani Gujral of ashwanigujral.com recommends buying Edelweiss Financial Services, Jindal Steel & Power, Sundram Fasteners, Hindalco Industries and Havells India.
Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Edelweiss Financial Services is a buy with a stop loss of Rs 288 and target of Rs 310. Jindal Steel & Power (JSPL) is a buy with a stop loss of Rs 158 and target of Rs 170. Sundram Fastener is a buy with a stop loss of Rs 495 and target of Rs 520."
"Bharti Airtel is kind of coming out of a correction. So, I think the 200-day moving average is about Rs 370. So whether or not this deal is good or bad, I think it has completed a correction and we could get back towards Rs 435-440."
"ICICI Bank is an underperformer and while you can have certain pullback rallies because these stocks are now getting fairly close to support, I don’t think it is going to outperform from here. So, you are much better off trying to get into an IndusInd Bank or HDFC Bank where there are fewer sellers than ICICI Bank."
"GAIL India is probably the worst of the gas stocks. So if I have to buy gas, I will buy Mahanagar Gas (MGL), Indraprastha Gas (IGL) and Petronet LNG because GAIL tends to fail around Rs 500-550. So while it is a dip, it is not the outperformer in the gas space."
"Can Fin Homes is coming from its 200-day moving average. So that is an excellent risk reward situation. This is a buy with a stop loss of Rs 540 and target of Rs 565. Tata Steel is restarting its rally. That is a buy with a stop loss of Rs 695 and target of Rs 720."
"Bajaj Finserv is a buy with a stop loss of Rs 5,400 and target of Rs 5,550. All NBFCs are higher, even the housing finance stocks which had a couple of rough days, even they are higher. I think there are better NBFCs than Manappuram Finance. It is quite volatile and basically range bound between Rs 90 and Rs 110. You probably look at it once it crosses Rs 110-115."
"PC Jeweller is a buy with a stop loss of Rs 368 and target of Rs 384. HDFC Bank which is leading this Bank Nifty move, is a buy with a stop loss of Rs 1,825 and target of Rs 1,860. Hindustan Unilever (HUL) is a buy with a stop loss of Rs 1,230 and target of Rs 1,265."Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd