I would look to lighten up, so generally maybe Tata Steel but otherwise I am afraid the sector again is surrounded by a lot of doom and gloom.
It could decline in line with the general market sentiment but this sector along with the banks will be one of the great outperformers once interest rate start to finally do come down but that could be a two to four months still.
HCL Tech and TCS will remain the top two picks but again the problem is these stocks have had their rallies. HCL Tech is up 10-15% over the last few months, TCS also is at all time highs over the last couple of months.
Zee Entertainment Ltd is a ‘SELL’ call with a target of Rs 148 and a stop loss of Rs 170.
Opto Circuits Ltd is a ‘SELL’ call with a target of Rs 105 and a stop loss of Rs 126.
Ranbaxy Laboratories Ltd is a ‘BUY’ call with a target of Rs 585 and a stop loss of Rs 558.
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