Jaiprakash Associates may test Rs 24-25: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Mahindra and Mahindra (M&M) is one of the biggest dogs of the auto sector, so I would still go with Eicher Motors, Maruti Suzuki, TVS Motor. I don’t think M&M is in chartically the right frame where you could buy the dips here."

"Jaiprakash Associates tested its 200-day moving average (DMA) around Rs 16.50-17, from here it could get back towards those Rs 24-25 type of zones, so fresh buy is possible, risk reward is favourable. So these are news based but it is possible that it has bottomed out and could move back towards Rs 24-25."

"In Natco Pharma the stoploss becomes wider but chances are it will cross previous high and maybe get towards Rs 1,350-1,400. Yesterday’s move was a fresh move. This is basically standing at Rs 1,050 thereabouts and Rs 1,050 is the previous all-time high. So it went there and it came off, so this is a time to accumulate there."

"IIFL is up 3 percent, Motilal is up 3.5 percent, so that maybe a space which could do well for the day again," he said.