With markets at lifetime highs, what strategy should investors adopt?
The phase of euphoria continues, India VIX below 17.90 continues to favour the bull case. However, one is advised to refrain from excess leverage given the overoptimism. Among stocks, we like Info Edge, Tata Chemicals, HDFC and L&T Finance that may see gains of 5% and more.
What is your outlook for Reliance Industries?
The sideways range breakout and sustained gains above the 200-day moving average (Rs 2,045) indicate the resumption of the much-awaited uptrend. Minor breather near the level of Rs 2,230 is likely, but expect a rally toward the level of Rs 2,370 in the short term with key support placed at Rs 2,080.