Deven Choksey, KR Choksey Securities: The market is showing signs of stability and the Sensex is likely to go up to 16,600 by next week. The market has discounted the possibility of inflation coming down over the next few months and is now eyeing the monsoon forecasts. I like L&T, BHEL, RIL, Rel Comm and TTML.

Karun Mutha, IL&FS Investsmart: There has been short-covering in some stocks, which has been pushing the market up. Midcap tech stocks have already seen some short-covering, while the fertiliser pack could see further short-covering. I would advise reverse arbitrage on Orchid.