Buy Jaiprakash Associates, JK Tyre and Industries; DHFL can test Rs 585: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Jaiprakash Associates has corrected to its 200-day moving average. So, that is a buy with a stop loss of Rs 17 and target of Rs 21. JK Tyre and Industries is also a buy with a stop loss of Rs 154 and target of Rs 166."

"Dewan Housing Finance (DHFL) could cool off a bit although, it is a strong stock. However, keep a stop loss of Rs 600 and maybe you could even get Rs 585."

"Metal stocks are getting to zones which are near previous historic highs. So, while in the short term they are strong, but for Tata Steel around Rs 700-750, you have historical tops."

"Similarly, for Hindalco Industries good support for entry is around Rs 230-235. So, at lower levels you should try to buy into metals. I don’t think for the day Hindalco is doing a whole lot," he added.