Markets rallied once again after taking break during the week before. Both Sensex and Nifty went up close to 1.5% week on week. Shipping, Metals, FMCG, Energy and Auto stocks were among the gainers.
The global economic data was not so heartening and hence we may see some correction in asset markets across the globe. Markets back home are likely to remain firm despite weak global cues and hence every correction should be treated as a buying opportunity. The risk reward over medium term is highly in favour of buyers. We may witness huge rallies in specific stocks over the coming 1-2 years and hence one should pick the right stories and play long. 5340 Should be the stoploss in Nifty for a target objective of 5800 over the coming 4-6 months.
TATACHEM @ 352-354 TGT 392 SL 340
PANTALOONR @ 464-466 TGT 500 SL 454
MUNDRAPORT @ 770-772 TGT 820 SL 755
APIL @ 722-724 TGT 760 SL 715