Buy Shriram Transport Finance Corporation, UltraTech Cement, State Bank of India: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Shriram Transport Finance Corporation looks like a buy with a stop loss of Rs 1,030, target of Rs 1,100. UltraTech Cement has completed a correction. That is a buy with a stop loss of Rs 3,950, target of Rs 4,100."

"State Bank of India is getting out of a bit of a range. So, this is a buy with a stop loss of Rs 276, target of Rs 292. In Dishman Pharmaceuticals & Chemicals, wait for a decent correction before you get in because where do you put your stop loss, your stop loss is 20 percent lower. It was doing a range between Rs 215-275. That range has been broken but, 20 percent, it becomes very difficult to buy something that is up 20 percent."

"Rupa and Company is a kind of a fast moving consumer goods (FMCG) company, but it is a low volume type stock. But once we get past Rs 350, maybe Rs 440-450 is likely. But Page Industries looks like a much better stock. So, on declines, that is a better buy in this space," he said.

"Midcaps and overall smallcaps are moving well but again, Ortel Communications has traded 460 stocks yesterday. So, low volume type things which can be easily manipulated. I would not really fish out there unless you are very well aware of the company. There are much better non-NBFCs which are going up for whatever reason. Those are good stocks to get in and that is a theme which continues to play out," he added.