Sell Tata Motors, Vedanta; buy Bajaj Finance: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Tata Motors is a sell with a stop loss of Rs 446 and target of Rs 428. Vedanta is also a sell with a stop loss of Rs 240 and target of Rs 226."

"Bajaj Finance is a buy with a stop loss of Rs 1,290 and target of Rs 1,340."

"Indiabulls Housing Finance has run up quite a bit. It is in an uptrend, but possibly on declines it still is a great buy. All housing finance companies are in a strong uptrend, but now they are getting off the charts, quite a distance away from their moving averages. Generally the best place to buy stocks is nearer to its 20-day moving average which clearly these stocks are not showing. However, over a period of time I would not be surprised if another 25-30 percent is gained on all of these housing stocks," he said.

"I don’t think there is much to do in pharmaceutical because a) they have had large rallies over a number of years. So, this correction is also looking like a very long correction. However, if you see, possibly Sun Pharmaceutical Industries is giving back 50 percent of what it gained. So, right now it is still not the right time to enter pharmaceutical. Maybe a couple of stocks are outperforming, but even Biocon is coming off. So, these are not sectors to play in. The sector of the moment is housing finance, NBFCs, etc. I think it is best to concentrate out there," he added.