Short Divis Laboratories, buy DHFL: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Divis Laboratories is a clear short. Chances are people are trapped on the long side and today you will get follow through because the shorts are covered now out here."

"Index is in a pullback, but what is not in a pullback are things like Kajaria Ceramics or Edelweiss or any of the stocks which have held on to their 20-day moving averages. So just look for any stock like L&T Finance Holdings, things which did not fall a whole lot. Maybe Dewan Housing Finance, while it is banned in futures, you can still buy it in cash. From an intraday perspective that could workout."

"Kotak Mahindra Bank is in a short term downtrend. These sort of pullbacks on all of these private banks should get sold into at some point. Now whether the market turns from 9,900 or 9,920, the idea should be to build short positions as the market rises, instead of trying to buy," he added.