Buy ITC, Jain Irrigation, Kotak Mahindra Bank; buy banks on dips: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "There are several stocks which have corrected sharply. So, something like Jain Irrigation, with stop loss at about levels of Rs 80, we could have a rally back towards Rs 115-120. Overall look for declines on banks to buy today. So, stocks like Bharat Financial Inclusion which after a big decline has moved up. Maybe even Escorts can be looked at."

"ITC is a buy with a stop loss of Rs 300 and target of Rs 314. Jain Irrigation is also a buy with a stop loss of Rs 86 and target of Rs 98. Kotak Mahindra Bank is a buy with a stop loss of Rs 930 and target of Rs 965," he said.

"Bharat Financial is possibly a low risk buy here but difficult to say whether it has made a bottom and it is now beginning to move up. I would have been interested if there were some macro news on microfinance and that would have led to this kind of buying because you need that sort of news to get big money to participate. Overall, right now, Yes Bank, IndusInd Bank, Can Fin Homes look much better because even they have corrected," he added.