Buy Mahindra and Mahindra, Colgate; sell Cummins India: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "It is better to focus on the largecaps or good quality because midcaps suppose there is a scare and you just spoke about how midcaps tumbled yesterday, so it is better to avoid midcaps for the time being till the policy is digested properly."

"So, we start with Mahindra and Mahindra (M&M). M&M is a buying opportunity. For the day also M&M is a buy."

"The second buy is from my favourite FMCG sector, Colgate Palmolive. Colgate saw some kind of a minor correction. That correction is over and done with and it is going to play catch up. So, two buying opportunities for the day," he said.

"The third is a short sell - Cummins India. Cummins is probably suggesting a deeper correction is coming. So, if you want to take both sides of the market, then you can go short here."