Check out: Top trading picks by market experts

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

Sudarshan Sukhani of s2analytics.com
The Bank Nifty led the decline. It is going to be the worst performer in the bigger indices, in sectoral indices and all the private sector banks have topped out, they have given distribution pattern. The Bank nifty has given us a confirmed head and shoulder breakdown and immediate target for the Bank Nifty is 11,000 and that is 1,000 points below where we are closing now. So, the Bank Nifty is not a buy. It is a sell on every opportunity with the private sector banks leading it.
The carnage in market is reflected in the charts of midcaps. Today we have a sell on Godrej Industries. It was going through a distribution between Rs 300-320-330. That distribution pattern has converted itself into very bearish head and shoulder, which is now cracking and falling. Godrej Industries has significant downside and a much lower target. For the day the targets will be modest but the trade is to be on the lookout for a selling opportunity in Godrej.
A lot of banks have now cracked. Union Bank of India is a sell and I suggest that traders should be looking to sell Union Bank today. The stock was in a trading range for the last three weeks. That trading range has broken on the downside. It could easily be constructed as a flag, which is made midway in a decline. In either case it is worrying and the chances are that the stock is going to see much lower levels. So, on any intraday rally or consolidation traders could consider going short in Union Bank of India.
SP Tulsian of sptulsian.com CESC looks a good buy because the company having posted an earning per share (EPS) of Rs 29 for first nine months of FY13 is an integrated player into the power generation supply to about 25 lakh customers in Kolkata and Howrah. The share now ruling below Rs 300 looks a good buy as it can move to about Rs 320-325 in next 10-15 days.
Hemant Thukral of Aditya Birla Money IFCI has seen some buying interest returning back even in a market where there is total selloff. Yesterday we saw fresh long open interest being build-up with the premium increasing suggesting that some long built-up or buying interest is coming back. Stock has retrieved back from the lows of Rs 29-30 and it currently managed to cross the ten day moving averages of Rs 31.50. We feel that in immediate – this stock may retest Rs 34-35 levels. So, traders can go long, keeping a stop loss of Rs 30 with a target price of Rs 35.
We had seen in last three days that Jaiprakash Power has taken a large hit from Rs 42 down to Rs 29. Yesterday we saw that the stock was trying to rebound back with fresh open interest being build-up on the long side reflected by 6 percent addition of open interest with cost of carry increasing. In immediate short-term we feel that the stock can rebound back at least 50 percent of the total fall. That means it can go back to Rs 34-35 levels. Currently the stock is quoting around Rs 30. So, traders should take a long bet on JP Power but it is a very high beta counter, so traders have to keep a stop loss. Stop loss that we will maintain is Rs 28.50.