Buy Reliance Infra, Reliance Defence, Rain Industries: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Reliance Infra is a buy with a stop loss of Rs 498, target of Rs 520. Reliance Defence is also a buy with a stop loss of Rs 58, target of Rs 66. Rain Industries is a buy with a stop loss of Rs 100, target of Rs 109."

"Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), Oil India, Oil and Natural Gas Corporation (ONGC), all these stocks are going lower. They have broken their 200-day moving averages and that is a pressure point for the market because all of these oil sensitives, the explorers basically are now entering some sort of a bear market of their own," he added.