Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "The point is that let us remember this is not China, this is a democracy. So one circular will not solve all our problems. So let us not get over excited. South India Bank since it is a small bank and not impacted by news, etc. that is where the patterns are most useful. So, this is a buy with a stoploss of Rs 28 and target of Rs 31."
He further added, "Shipping is doing extremely well. Shipping Corporation of India (SCI) is a buy with a stoploss of Rs 74 and target of Rs 88."
"Ceat - yesterday afternoon tyre stocks started some kind of a correction, I am hoping that continues. So, that is a sell with a stoploss of Rs 1,900 and target of Rs 1,820. Indian Oil Corporation (IOC) is a sell with a stoploss of Rs 425 and target of Rs 400. Vedanta is a sell with a stoploss of Rs 244 and target of Rs 226."
"The way to do these sells is to wait for the 12o’clock, let all this positivity get built into the market, and then if it collapses, that is when you play the short side."
"Bharat Financial is trading below the 200-day moving average and given the kind of news flow we have, I don’t think any sort of rallies are likely to sustain. I think it is moving towards Rs 600, so basically all of these stocks, the farm loan waiver has hit them fairly hard. So, chances are there could be more downside on this particular segment of NBFC," he said.
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