Back home, government data after market hours on Monday showed retail inflation cooled off to a four-month low of 4.4 per cent in February as compared to 5.07 per cent in the previous month. Seperate data showed that factory output - determined by Index of Industrial Production (IIP) - soared to 7.5 per cent in January as against 3.5 per cent in the corresponding month of 2017.
Retail inflation still remained above the 4 per cent medium-term target of the Reserve Bank of India (RBI), strengthening views that it will hold rates steady at its April meeting rather than raise them.
On Monday, the NSE Nifty had closed 194 points higher at 10,421 and the BSE Sensex surged 610 points to close at 33,917, ahead of release of consumer inflation and IIP data.
Simi Bhaumik, research analyst, shared her trading picks:
Buy ACC near Rs 1,550-1,545 for a target price of Rs 1,590 with stop loss at Rs 1,540
Buy JSW Steel near Rs 295-294 for a target price of Rs 307 with stop loss at Rs 292
Disclaimer: Investors are advised to make their own assessment before acting on the information.