Sell BoB; buy Ajanta Pharma, Motherson Sumi: Ashwani Gujral

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "It is clear that the Bank Nifty is showing weakness, so whatever intraday rallies you get, that is the bigger sell on rallies play. PSU banks have all gap down, so Bank of Baroda (BoB) even after 5-6 percent is a sell. Chances are through the day it will fall further but clearly Bank Nifty is the one that you should get after on the short side." "The best shorts are the smaller stocks. Union Bank, Punjab National Bank (PNB), etc where it is much easier to get bad results. So, if BoB does this, Union Bank, PNB, etc could be even worse," he said."The problem is that with this sort of news flow whatever uptrend was beginning to take shape tends to kind of become sideways. So, may be around Rs 130 you can try to look at Bank of Baroda but you won’t be too eager to take long positions there." "Ajanta Pharma probably on days like this tends to outperform. It is a buy with a stop loss of Rs 1,530, target of Rs 1,570.""Something like Motherson Sumi can be bought with a stop loss of Rs 260, look for target of Rs 285. Reliance Industries probably could support the market, so Nifty is more sideways, the pressure is on the Bank Nifty."Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.