Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Yes Bank is a sell with a stop loss of Rs 325 and target of Rs 308. State Bank of India is a sell with a stop loss of Rs 281 and target of Rs 265."
"HCL Technologies can be bought with a stop loss of Rs 956 and target of Rs 980," he added.
"Maruti Suzuki is a sell with a stop loss of Rs 9,000 and target of Rs 8,750. NCC is a buy with a stop loss of Rs 124 and target of Rs 136. Bank of India is a sell with a stop loss of Rs 134 and target of Rs 122."
"My sense is that if banks sell off, maybe NBFCs could be marginal beneficiaries. Can Fin Homes has corrected quite a bit - Rs 460 thereabouts shows the low, so from there it had a sharp rally. I think it should be accumulated in this decline and chances are at some point you will get Rs 600-620 because the only safe assets seem to be again which is a reiteration that housing assets seems to be safest, so maybe post this correction Can Fin Homes can move higher."
"I have a simple principal in all trading, investing etc. that I don’t carry more than 10 percent loss. Now if markets recover etc. and it goes back to Rs 1,100 maybe one should buy again. But if Rs 860 becomes Rs 460 then one is in real good trouble. So, right now it hasn’t fallen a whole lot but 10 percent threshold is crossed. Who knows when these things are likely to change? So, if you must hold on maybe give it another Rs 50 but at some point you should get out because anything that goes up 10 times can easily correct 50 percent," he said.
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