Buy Wockhardt; sell Tech Mahindra, Indian Oil Corporation: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Wockhardt is a buy with a stop loss of Rs 615 and target of Rs 640. Tech Mahindra is a sell with a stop loss of Rs 426 and target of Rs 400."

"Indian Oil Corporation (IOC) is a sell with a stop loss of Rs 442 and target of Rs 420."

"FMCG, etc. are slow stocks; they will do a bit better than your fixed deposits. Rs 300 will not become Rs 600 next year. So, while one can hold on to Marico and it can be part of a portfolio and it will probably help you in a bad situation, but I don’t think it will really shoot the moon. That is not why you do equity. If one still wants to remain in that, keep a stop loss say below Rs 290 and maybe target of Rs 420 can be kept here."

"L&T Finance Holdings, IndusInd Bank, and Indiabulls Housing, all three can be bought. However, if I have to choose just one, L&T Finance is probably the best one where it is just beginning to come off age. So, maybe around Rs 170-175, and this sort of correction if you get, I think that can be bought and target could be closer to Rs 250," he added.