Fresh Rally Likely Above 7,750

The Economic Times - - Diruption: - AK PRAB­HAKAR CHAN­DAN TA­PARIA NA­GARAJ SHETTI

What is in Store? Nifty if starts to cor­rect be­low 7580 would con­firm the com­ple­tion of the one-month rally, as we have been cor­rect­ing from 9119 from March 2015 we are en­ter­ing into 13th month were sell­ing pres­sure would be high if 7405 sell­ing in mid-cap and small-cap would be very high. What Could In­vestors Do: Exit metal & banks af­ter spec­tac­u­lar rally from low lev­els and auto, FMCG, power and fer­til­izer which can be de­fen­sive, we like Ramco Ce­ments, In­fosys, Hero Mo­toCorp, NBCC, Am­buja Ce­ment, GSFC, Coro­man­del In­ter­na­tional, UPL. Avoid high beta com­pa­nies as in next wave of cor­rec­tion if Nifty goes be­low 6825 these stocks can lose value and will take very long time for re­cov­ery. We ex­pected 78007900 for this rally to ter­mi­nate but ev­i­dence is show­ing it can hap­pen be­fore.

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