Sell Balkrishna Industries, Axis Bank, Larsen and Toubro: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "It is possible that ITC continues to rally through this correction because something has to hold up the index. So, I won’t be surprised if ITC gets up to Rs 330-335."

"I have all sells because today is the first day of expansion on the downside. So, possibly the last couple of hours should be the worst part of the day. Balkrishna Industries is a sell with a stop loss of Rs 1,660 and target of Rs 1,600."

"Axis Bank is a sell with a stop loss of Rs 493 and target of Rs 470. Larsen and Toubro (L&T) is a sell with a stop loss of Rs 1,710 and target of Rs 1,650," he said.

"Page Industries, again is going through a normal correction. I think first kind of level should be around Rs 15,500. Capital First is now trading below its 200-day moving average. So, lots of big corrections are still there on the NBFCs. Chances are a lot of them will lose 20-25 percent before this is done. So I think we are just about getting warmed up on the correction."