Buy Asian Paints, Axis Bank; short Bank of India: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Asian Paints is finally a buying opportunity. The stock has been in a correction and that correction appears to be coming to an end, so it is a blue chip anyway."

He further added, "Axis Bank is a buying opportunity, also in fact all private banks are doing rather well and I expect that to do better in this week and the next week. Even Yes Bank, IndusInd Bank but today choice is Axis Bank. The theme is private banks should outperform the market and the public sector banks both."

"Bajaj Auto has been on a rally, a small consolidation should break on the upside. Our old favourite Reliance Industries should come back to play. It has been in a dull narrow movement that usually is a pre cursor to a breakout on the upside."

"PSU banks are not my favourite, Bank of India is a short sell. I would stay away from IT for the time being, but IT has broken out of a range, so eventually Infosys, Tata Consultancy Services, HCL Technologies will become buying opportunities, but not necessarily this week," he said.

“Havells which has been an outperformer is a buy for today and surprisingly ITC which has done nothing but which is giving the first signs of some kind of a rally.”

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd