Buy Vedanta, Tata Steel: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "It is a bit late to downgrade Sun Pharma but given that if it opens like that, chances are it may not do too badly for the day because often you get short covering when at the end of a decline, this sort of move happens but there is nothing in pharma. You should wait for all of these stocks to collapse because you buy them and that collapse is still not ending."

"Vedanta as well as Tata Steel are looking strong and on this decline, buying can be done on both those stocks."

"IT and pharma are going to get buried and the way these stocks are collapsing, there does not seem to be bottom in sight yet, so all these contra calls on IT pharma are not going to work out, just stay miles away."

"Overall domestic companies are doing well. Similarly, metals, Jindal Steel & Power which did well last week that continues to move up. Mahanagar Gas can be bought, Ashok Leyland continues from its last week’s rally. So metals and financials broadly can be bought into," he said.