The Bank holiday is done and everything is working again. Prfit taking is alays advised at 75% + returns or whatever target you set in cash equities.
A good chance to sell 5300 Puts as the markets show strength and the range of 79-82 for the 5300 Puts is enticing to say the least
The outsourcing bill is coming in the US and Obama is coming back though there ill be a bout of negative advertising against the incumbent in the next few weeks. China’s Service PMI was better at 56.7 and the shortness in manufacturing indices could be a part of more fundamanetal changes in contribution from Manufacturing to National and Global GDP Trade however is a matteer of caution
New plays like NCC with fundamanetal investor participation as well as Tata Global and Prime Focus ( 2 out of 3 from RJ) are good options
Mostly you should get bought further in infra and Banking and avoid Airtel and HUL
ITC is a good buy at 247, may even correct to 235 if there is a dip but there MAY NOT BE in any dips in this market ITC would catch to 280
SBI should catch again, ICICI Bank is good for another run at 890-905 and HDFCBANK may not need a dip at 575 either. Axis and SBI remain short interest from longer term houses and shortcovering would likely be absorbed in the course of the week
Jubilant food CB is a great pick. Auto stocks are ont he border line and that means as no others are available they will take the correction if it happens