Buy TCS; sell Punjab National Bank, Ashok Leyland: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Maybe if we are going to go lower to 9,500, etc. BEML is also likely to come off. So maybe around Rs 1,650-1,700, if it comes down there, it becomes a buy. You need to be clear on which are the strong stocks. Chances are the next rally may also be led by them. So, when the market falls, just watch out for what is not falling because in the next leg then that generally tends to go up."

"Individual stocks, all the other tech stocks are finding buying. So, TCS, Tech Mahindra, HCL Technologies, all of them are moving higher and that is how it should play out that people sell Infosys and they buy some other tech stocks. So TCS is a buy with a stop loss of Rs 2,500 and target of Rs 2,675."

"Punjab National Bank (PNB) is a sell with a stop loss of Rs 146 and target of Rs 134. Ashok Leyland is also a sell with a stop loss of Rs 106 and target of Rs 98," he said.