RNRL at Rs 83 is our favorite for the day, as the a potential settlement with RIL is likely looking at the recent news reports of Anil calling for truce
As expected the Sensex has given up some gains from the week before by losing 2.5%. We expect the benchmark to consolidate here, although small gains are not ruled out in the short term. We see some more upside from these levels, but do not expect another 100 percent gains from here. So the tone remains cautiously optimistic but do not expect whopping gains. Please do not go short in the market, as we think that we are not done with this rally. So, one should hold on to quality stocks and ride the rally for some more time. The easy money has already been made and now it is time for quality stock picking.
Hotel stocks were on Friday on news that a big FII is active in these counters
Nifty above 4900 is Bulls