Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "You can go short on Ajanta Pharma. That is a sell with a stop loss of Rs 1,190 and target of Rs 1,100. PVR is a sell with a stop loss of Rs 1,310 and target of Rs 1,250. Delta Corp is a buy with a stop loss of Rs 174 and target of Rs 186."
"Jubilant Foodworks is moving on. However, again, it has rallied quite a lot. So, probably not a great buy right now, but if you bought at lower levels, you can take some off. However, it is clear that stocks like Tata Global Beverage, Bata India - consumption is overall doing well. However even there Hindustan Unilever (HUL) is coming off. So, the large stocks are tending to face some selling, so, be very careful for the next 30-40 points."
"Infosys is trading at recent lows. So, probably you can try a short with a 50 points stop loss. However it does not appear that this buyback has had a positive impact. Any stock that reacts poorly to good news, there is selling happening, otherwise why would the stock be lower? So, chances are people use the buyback news to sell even more. So my sense is it will probably go lower before it goes higher," he said.
"The most important bit here is one should not hold Rico Auto if the stock breaks Rs 60. Maybe in the long term one will see Rs 105-120, etc. but if you want to be in long term, you should ensure you have quality because Amtek Auto was a quality auto ancillary. So, I would bet on a Motherson Sumi over the long run than Rico Auto."
"For Jindal Steel & Power, basically Rs 115-120 on the downside and Rs 150-155 upside, so, I would buy it around Rs 115 if I must buy it. However, I think there are better metal stocks, may be Vedanta or Tata Steel, but on a correction. If the market looks like bottoming out because all of these metal stocks have come off the highs of the day. So, I don’t think as of today metals is a great trade."