Buy Sun Pharma, sell banking stocks: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "I am not interested too much on the upside but still if somebody wants to buy something, Sun Pharmaceutical Industries is a buy with a stop loss of Rs 868 for target of Rs 900. It has been a strong stock and is holding its averages.""I was surprised that PSU banks are still going down, so basically more downside to come. You can’t say that they are so low that they can’t go lower. Oriental Bank of Commerce (OBC) is sell with a stop loss of Rs 82 for target of Rs 70," he said."All banks are sell now. However, definitely even FII dominated banks like ICICI Bank, HDFC Bank etc will come under pressure.""Crompton Greaves went up to its 20-day moving average, declining and then crash from there. So it is still a sell with a stop loss of Rs 128 and look for targets of Rs 114.""India Cements is completing a pullback, so that is a sell with a stop loss of Rs 69 for target of Rs 61.""Marico, Sun Pharma and Hindustan Unilever (HUL), whenever the market has a little bit of an upside you see green on them. On all declines something has to be bought, it is this stock, whenever the next upside bull market starts, Marico will do extremely well.""If housing finance space did get the tax sops I would sell the rally. It is about the trend. These sops, they probably play out over the longer run but most of these stocks are over-owned. The way they are coming down, it just appears that somebody is unloading and rally will help people unload even further. So Indiabulls Housing Finance and LIC Housing probably need to be sold." "HDFC has already done its bit but again I feel if you get a Rs 100 rally because of some sop anybody who is selling before the Budget will keep selling post the Budget also. Budget is not an event which turns trends, it can give you a speed breaker but other than that the trend continuous. Just by virtue of been included in the F&O possibly rally up to Rs 2,900-3,000 is possible because it has come down quite a bit but overall again out there the trend is still negative. So, we will have to wait for some higher lows to be formed before that happens but new F&O stocks generally do tend 10-15 percent in a short.""Aurobindo Pharma is going down even further so everything that was kind of over owned in the last rally that is beginning to come down. I would probably even short this groups that are looking strong right now, the early morning green that you can see - LIC Housing, DLF  which are in green and also Just Dial all of these stocks need to be sold." "As far as fresh calls are concerned PC Jeweller in spite of being a new addition has started falling. It is a sell with a stop loss of Rs 375 for target of Rs 352. YES Bank is a sell with a stop loss of Rs 382 for target of Rs 650. BPCL is a sell with a stop loss of Rs 758 for target of Rs 735.""IDBI Bank is almost becoming non-existent now. You want to sell things where there is still some meat left but overall financials look fairly bad. So IDBI may be below say Rs 53. We can see a retest of closer to Rs 45-46 but I am more interested in ICICI Bank, YES Bank and BPCL where still some amount of gain are there. "Even Maruti Suzuki is about to break Rs 3,400. So it is now across the board that is what probably is left in the market. Hero Motocorp is still strong but once we start breaking say Rs 2,250 then weakness should come in here. Bajaj Auto also had a sharp rally but all of those gains have been given back. So, chances are we should look for lower levels. Maybe closer to Rs 2,200 but now it is final go and everything that was saved so far will probably also get the hammer." "Larsen & Toubro (L&T) is being protected but if the Budget doesn’t have anything great then these stocks will get hit hardest because if somebody is not selling in anticipation of the Budget and once this Rs 1,000 zone goes then it is back to those Rs 750-800 type of zone because this is consolidating before the next fall.""As far as calls are concerned, midcap pharma is coming under pressure. So Strides Shasun is a sell with a stop loss of Rs 883 for target of Rs 855. Jet Airways is a sell with a stop loss of Rs 500 for target of Rs 475. Torrent Pharma is a sell with a stop loss of Rs 1,270 for target of Rs 1,210.""All of the auto stocks are now also under pressure, so people want to clean out before the Budget."