Buy L&T, YES Bank: Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "At this point I think I would stick more to largecaps as we are seeing a little bit of panic setting into the midcaps which were relatively a pocket of strength last week. Something like Larsen & Toubro (L&T) which again shows strength as well as which could be a proxy for the capex which is about to come in a quarter or two. You are already seeing stalled projects being started back and normalisation of manufacturing sector, so L&T is one of the better plays that one should start accumulating. In fact even in a rising market L&T would give you great sort of retunes."

"Something like YES Bank which due to some panic yesterday people sold off a lot of the stock. I feel that this is one stock which could rate itself and can go and achieve trajectory. So we feel these are two stocks which one could start buying at these levels," he said.