Buy Eicher Motors, Jain Irrigation Systems, Axis Bank: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Eicher Motors is a buy with a stop loss of Rs 30,750 and target of Rs 31,500. Jain Irrigation Systems is a buy with a stop loss of Rs 112 for target of Rs 124. Axis Bank is a buy with a stop loss of Rs 545 and target of Rs 570."

"Oil marketing companies are still above their 200-day moving averages. But bets of the oil marketing rally is over because crude as a chart is looking fairly strong and we will test the reforms when we get past Rs 65. So that way the market is getting ready to see whether at some point the prices stop going up locally."

"However, in BPCL, Rs 480 is the 200 day-moving average and Rs 400 is around the 200-day moving average on HPCL. As long as that goes on they are still in positive territory but definitely there is no momentum on the upside," he said.