Check out: Top trading ideas by market experts

In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Vishal  Kshatriya, Edelweiss give top pick for the day.

Sudarshan Sukhani, s2analytics.com
Markets are moving lower and the best trades are coming on the short side. For today, we would suggest looking at  Jindal Steel and Power Ltd (JSPL). JSPL has been in a sustained downtrend. Stocks that are in a trend continue to  remain in that trend unless proved otherwise.
For the last one month, JSPL was moving inside a trading range. Yesterday, that trading range broke on the downside  quite decisively. So, we are looking at much lower targets. For today we can expect yesterday’s breakdown to see  follow through. Look to sell JSPL. If you see a small rally that is nice, you can sell it at a higher price but as usual  always keep stop losses.
It is possible that short selling may probably be the better option for today. We are looking to sell Bank of India (BoI).  BoI was in a trading range between Rs 310 and Rs 330 for almost three weeks. That Rs 310 level support has given  way yesterday. It has broken down and quite decisively. So, an immediate target of Rs 280 is possible on the  downside. That is a lot of downside possible. Day trader or a short-term trader will not wait for this kind of a target but  the trade is look to go short in BoI, keep a stop but also wait patiently for a rally if you can to go and sell. SP Tulsian, sptulsian.com Godrej Consumer Products looks to me a good buy. The stock is now ruling at Rs 760 or so and can move to a level  of Rs 800-810 in next fifteen days or so. Because of the lot of volatility and weakness prevailing in all the sectors  whether you talk of the banking, infrastructure, power generation, cement, steel, so probably people are taking a shift  into the defensive sectors, which includes fast moving consumer goods (FMCG) and this stock looks stable and  promising one amongst that sector and hence a long position can be taken in this stock for 15 days or so. Vishal Kshatriya, Edelweiss Tech Mahindra has seen aggressive short built up, which is indicated by open interest (OI) data. Besides this technical  indicators have also given a sell signal. I am expecting stock to trade the negative bias and hence recommend going  short March futures in a range of Rs 1,075 to Rs 1,080. Target price is Rs 1,030 and stop loss is Rs 1,110.
I recommend going short in Larsen and Toubro (L&T). Overall trend in the stock is negative. Day before yesterday we  have seen an aggressive short built up in the stock. Besides this, it has also closed below its important support of 200  day moving average (DMA). Short-term traders can go short on a bounce in a range of Rs 1,450 to Rs 1,460. The  target price is Rs 1,380 and a stop loss above Rs 1,520.