Buy Tata Steel, Escorts, REC; HDFC may test Rs 1700, IOC Rs 475: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Tata Steel is a buy with a stop loss of Rs 458 and target of Rs 480. Metals are finding some kind of support at lower levels. Escorts is a buy with a stop loss of Rs 544 and target of Rs 570."

"Power related NBFCs, Rural Electrification Corporation (REC)  and Power Finance Corporation (PFC) are still doing very well. So, REC is a buy with a stop loss of Rs 207 and target of Rs 221."

"During times of distress HDFC does tend to put its hands up. So, I think housing finance continues to be on the strong side. We should see Rs 1,650-1,700 on HDFC in the days to come," he said.

"All of these oil marketing companies are doing well. First target is Rs 440 on Indian Oil Corporation (IOC). We should look at Rs 470-475. The kind of move, consecutive up days for four or five sessions shows that there is some large buying which is happening on all of these stocks."