In his latest analysis and commentary, stock market expert SP Tulsian of sptulsian.com gave his top stock picks in an interview with CNBC-TV18.

SP Tulsian is a well-known equity analyst. A fundamental analyst with more than three decades of experience, Tulsian has an acute sense of logic and is respected for his frank and forthright views.

Talking about Bank Nifty, Tulsian said, “We won’t be surprised to see a swift bounce back coming back in the Bank Nifty either on Monday (January 6) late afternoon or from Tuesday (January 7) because the correction of more than 400 or 450 points, which we have seen, was not warranted. In fact, Bank Nifty future has corrected by about 475 points and today all the 12 bank stocks in Bank Nifty are in red with HDFC Bank taking a lead of about 180-200 points.”

Tulsian says all the Bank Nifty stocks have become attractive. "I am not referring the smaller ones which contribute just 7-8 points, but if you want to take call avoid Kotak Mahindra Bank; otherwise SBI, IndusInd Bank, Axis Bank and HDFC Bank, all 4 looks very good. Be brave and create long positions because 32,000 is seen to be good support for Bank Nifty on cash level basis and desired correction has happened today,” he added.

When asked about pharma stocks, the analyst said Divis Laboratories and Biocon continue to be his preferred picks. "We continue to give buy call on those two stocks and can be held as portfolio stocks. We may add 2 stocks – Aurobindo Pharma and Cadila Healthcare over Sun Pharmaceutical Industries purely on the basis of fundamentals.”

Tulsian has been giving buy call on SAIL which has risen in the last couple of months by about 40 percent, but relative outperformance has been seen more in the case of Jindal Steel and Power. "We will refrain from taking any call on that stock and Tata Steel but keep positive bias on SAIL and JSW Steel going forward and continue to have a positive bias at least for next 3 months on ferrous steel sector,” he pointed out.

Tulsian is also positive on Maruti, M&M and Ashok Leyland in the automobile sector.