Buy Zee Entertainment, TCS, NTPC; sell Jain Irrigation, Castrol: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "I am looking at buying and selling and it is possible that we may see some kind of a bounce back. This is a long-term bull market. So I am suggesting buying Zee Entertainment. It had a deep decline, a correction that is done and over with. It's now on the verge of making a lifetime new highs. A small consolidation could break on the upside."

"The second stock for buying is Tata Consultancy Services (TCS). It's in a narrow range. Yesterday it closed higher than the previous day which is remarkable given the Nifty's decline. So, any pause in the declines that we see, could result in TCS doing rather well on a short-term day, today and tomorrow," he said.

"The third buy is NTPC. A very attractive chart, higher levels are coming. It is not just a day trade; it is also a swing trade. You could carry the positions in NTPC on the long side."

"Two shorts sells are Jain Irrigation Systems. The stock is now breaking down and Castrol India has been a big disappointment. Two months ago it was giving a bullish pattern and that pattern morphed into something fairly bearish and here lower levels should be coming."