Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "New highs basically mean that very few people are losing on a given stock and new highs before the market has hit them means that several new highs should be expected. So, I think Eicher Motors is now probably starting out a fresh leg on the upside and a leg where the next target could be closer to maybe Rs 36,000. So, Eicher Motors on all decline towards Rs 32,500 is a very decent buy."
"Eicher Motors and Maruti Suzuki India will continue to surprise on the upside," he added.
"The pharma sector isn’t doing very well but it is close to its 200-day moving average (DMA). So the risk of buying Biocon is low, probably with Rs 300 type of stop lloss. At some point, if the rally restarts, we could get Rs 420-425, so good place to buy and with this gap up, it is happening at the right spot, the chances are it could have a good day."
"If you have to trade one stock, probably Biocon could be that stock."
"Tata Steel is a buy with a stop loss of Rs 655 and target of Rs 680. Hindalco Industries is a buy with a stop loss of Rs 250, target of Rs 264 and United Breweries is a sell with a stop loss of Rs 881 and target of Rs 755."
"Manappuram Finance bottomed out around Rs 90 and it is continuing from there. But Bajaj Finance, etc. are now coming off, Dewan Housing Finance is traded in the red, so current NBFC run maybe getting to its conclusion in this particular swing. So you have to be a little careful that these stocks have been running for the last four-five days and if the market is not able to breakout then sometimes even stocks which have done well can get into the zone of profit booking."
"So right now is not the time to get into these stocks, maybe you can ride with a trailing stop loss etc., but definitely not after four-five days heady run."
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