Although we are negative about the broader market, traders could make bets in select counters, Cement and Power in particular. We like cement stocks in the short term, as the news of price hike might bode well for the companies in the short run. Metals is one space we would like strictly avoid in the current market scenario. So please stay away from Hindalco, Tata steel, Sesa Goa and Sterlite Ind at current levels.
Ssome Midcaps like Omax Auto, Hydro S&S, Nilkamal Plastics and NELCO showed some strength in a week market. We see the trend continuing in Midcap space, while largecap stocks might see some consolidation at current levels.