Buy Britannia: The stock has already corrected around 20 per cent in last three months and is now trading around its long-term support of Rs 2,840-2,850. Investors may buy Britannia at the current market price for a target of Rs 3,030 with stop loss at Rs 2,747.
Buy Bata India: The stock has witnessed very good volumes recently, after consolidation of one-and-a-half months. Investors may look at buying for a short-term target of Rs 460 with stop loss at Rs 434.
Buy ITC, HUL: Investors may look at buying HUL for a target of Rs 840 with stop loss at Rs 800. Minor dips in ITC towards Rs 225-230 can be used to buy the stock for a target of Rs 244 with stop loss at Rs 224.
Avoid banks: The Bank Nifty index has shown underperformance compared to the broader Nifty. Unless major reversal signals are seen on the largecap front, no outperformance is expected in the banking pack. Therefore, investors may avoid these names and focus on non-banking stocks.
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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