Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Bajaj Auto has a small consolidation that takes the shape of a mini bullish head and shoulder. It's a buying opportunity."

"Cipla had a good day yesterday - that brought it to a resistance level just above which a breakout from which should take it to a strong uptrend. So pharma stocks are doing their own thing and a lot of them are becoming positive day after day. So Cipla is a buy. It is a positional buy. Buy it and hold it for a few weeks. There is more here and that is what the chart suggests," he added.

"DLF has something like Bajaj Auto, a small consolidation which is giving the shape of a bullish pattern, so perhaps DLF could break out and give some money on the long side."

"I also have two short sells. One is Tata Communications. The stock has been falling relentlessly day after day. There is a deeper correction here. It is breaking support levels. The second stock is Amara Raja Batteries. A large rally to Rs 950 fizzled out very quickly, lower levels should be coming," he added.

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