Sell Tata Elxsi, buy JM Financial: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-Tv18, "Very interesting trade is in PC Jeweller. If you see the rally, it has been basically vertical and today is the first down day in many days. So with a stop loss say around Rs 382 thereabouts, in the next couple of days you could get even Rs 355 because the stock is way over extended in terms of averages."

"Tata Elxsi is a sell with a stop loss of Rs 1,620 and target of Rs 1,565.  Finally, JM Financial is a buy with a stop loss of Rs 120 and target of Rs 132."

"I don’t think Castrol India is a five year type stock. Most of the time it is fairly range bound. If you want to do a five year auto related stock, probably get into a Motherson Sumi or Maruti Suzuki has kind of come off, but I don’t think Castrol is really a five year type stock. It did well when crude prices used to come off from USD 100 to USD 50 and Castrol used to go up, but it has not participated at all in this bull market," he said.

"Gabriel India is in an uptrend but you must understand that it has to be part of a 15 stock portfolio. You can’t just have only Gabriel. If you want to buy just one auto ancillary, then Motherson Sumi is a good one, but if it is a part of an overall well diversified portfolio, then I think even in Gabriel, the next target here is Rs 250. In five years, a lot of things change, we have seen what happened in five years to Infosys. If that can happen there, five years is not the kind of timeframe for Gabriel type stocks. So just keep looking for the next target and then review if things are in shape," he added.