Check out: Top trading ideas by three experts

In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Hemant Thukral, Aditya Birla Money give top pick for the day.

Sudarshan Sukhani, s2analytics.com
A number of metal stocks have been in deep declines. It is not a correction, they are in some kind of bear market of their own. Unfortunately one of the best PSU stocks Steel Authority of India (SAIL) is also in that category. Look to sell SAIL today. It has been making new lows day after day and after a small consolidation it has broken on the downside. So we are looking at a target of may be even Rs 52-53 and that is a lot, keep a tight stop loss and look to short SAIL.
Markets are slightly choppy, we have seen the banks go up and the broad market has underperformed little bit. So it is better to consider buying banking stocks. I would suggest looking at UCO Bank today for buying. PSU stocks have seen a big decline, after that decline some kind of minor base building is going on for the last three-four days. A breakout has occurred in UCO Bank on the upside. Now take the context, if the markets open cheerful or even flat then UCO Bank is an appropriate short-term buying opportunity. SP Tulsian, sptulsian.com
We have been seeing renewed buying coming into all the PSU banking stocks probably on the hopes of the rate cut by Reserve Bank of India (RBI) in the first week of May because of lower inflation coming in for the month. Considering that UCO Bank which is now ruling close to Rs 62 looks a good stock because one can expect a price of about Rs 68 or so in next one week or so or may be for the near term trader one can look for a rise of about 5 percent close to Rs 65 or so. So this is a good stock from a short-term perspective as well as for traders. Hemant Thukral, Aditya Birla Money
First strategy is Canara Bank. This midcap PSU bank has seen a fresh open interest built-up of 11 percent. With premiums to future increasing clearly telling that long open interest is being built up. Technically this stock has managed to cross Rs 405 which was acting as a stiff resistance for it. In immediate short-term we expect Canara Bank to move up to Rs 432 therefore we recommend to buy Canara Bank with a stop loss of Rs 382. The moment it goes below Rs 382 the position should be squared off.
Second stock is Housing Development Infrastructure Ltd (HDIL). Now this midcap real estate stock has moved very sharply today along with the Nifty. Clearly it is a high beta space showing open interest being built up so some supportive buying coming in from lower levels; 5 percent open interest being added up with cost moving up. This stock has managed to rebound from a long-term support level of Rs 45-46. Now immediate short-term we expect this stock to move up to Rs 52. One should keep a stop loss of Rs 46, so traders should utilize this opportunity to go long on HDIL.