Well from last 3-4 days we are advising a buy on dips strategy with a sl of 15150 on nifty for targets of 15600-15800 as pessimism has taken over , we feel it will be achieved in a day or two with nifty and bank nifty doing the said targets
We had mentioned about the sharp sell off in metals vis vedl , tata steel , nalco and all of them crashed in the previous session
Technically now as advocated we are looking for 15600 and 33200 on nifty and bank nifty on immediate term and will avoid shorts above 15468 and 33900 , above which the road for 15600-800 and 33200-500 looks swift and quick
When such a move comes , stocks are bound to rise but the quantum and momentum in same may not be so high
However few battered and reversal stocks which may seek upsides are titan , aurobindo pharma , indigo , dlf and hindalco which may be looked for future longs and call options , we will not be comfortable for shorts or puts on tuesday
Commodities remains a sell on rise in bullions , base metals and energy
Stocks to watch
Nifty and bank set to achieve our targets of 15600 and 33200
Buy bankdhan bank , lupin
Buy titan 2000 ce
Buy auro pharma 520 ce
Sell crude , silver , gold mcx
