Buy Engineers India, Maruti Suzuki India, Rashtriya Chemicals: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Engineers India is a buy with a stop loss of Rs 156, target of Rs 172. Maruti Suzuki India is a buy with a stop loss of Rs 7,800, target of Rs 8,050. Rashtriya Chemicals and Fertilisers is a buy with a stop loss of Rs 98, target of Rs 110."

"Cement has shown upside traction since yesterday, both UltraTech Cement as well as Ambuja Cements. So, you should have a bit of an upswing from here. All these stocks corrected till their 200-day moving averages. So cement is kind of leading the market before the market correction is over. So that gives you a hint, what could do well if the market starts to make fresh highs again."

"Non-banking finance companies (NBFC) basically consolidate and then they start moving again. Can Fin Homes, after a relatively large correction is starting to move. So is Indiabulls Housing Finance. So all of these housing stocks kind of took a back seat, but they are now ready to go again. So again, buying on all of these stocks, plus Bajaj Finance, Bajaj Finserv, are coming back. So market leading groups are finding flavour. That is good news," he said.

"Indocount Industries is basically extremely volatile. Now, it has probably done the downside for a while and in the fashion that it fell, it could have a pull-back rally strongly towards Rs 150-160. But typical trading type stock. I do not think this move really changes the overall downtrend. But from here, there could be some upside, maybe of the order of Rs 30-40."