Buy GAIL India, L&T, Ujjivan Financial; sell Aurobindo Pharma, NTPC: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "GAIL India is now building a base and giving a sense that it is making a bullish head and shoulder. It is swing trade; it is also a positional trade. You might like to buy it in anticipation of an eventual upside breakout and hold for a few days to weeks."

"Larsen and Toubro (L&T) is doing nothing. It is in a narrow trading range but it does suggest that the trading range is willing to break on the upside because it is not going lower. It is finding support every time it dips. So we are anticipating a breakout here."

"All the micro-finance companies have had very bad times but Ujjivan Financial Services is building a base and here we are buying on a sharp dip, a deep correction which is converting itself into consolidation, so there is a risk but the reward is also very attractive," he said.

"So three buy ideas and two short sells - Aurobindo Pharma has been an outperformer. It does appear that it has started a correction and it could go lower. Second is NTPC. Yesterday's price action in NTPC was that of a reversal day. It went up a big wide range and closed at the lows of the range. NTPC for a short seller could have a day trade on the short side. All shorts should be taken only for day trades."