With China cutting capacity and a material surge in Chinese exports unlikely, broking house expect domestic prices to remain firm, closer towards a floor price of USD 489/t.
Input costs were a key driver of steel prices, while iron ore prices should remain under pressure given weak fundamentals, according to Jefferies report.
Germany's Thyssenkrupp wants to decide by the end of September whether to pursue a European steel merger with India's Tata Steel.
Amit Gupta of ICICIdirect is of the view that one may buy Tata Global Beverage, Tata Steel and Castrol India.
However, looking at futures open interest and other derivative data we expect Nifty to break 9,700 and moving towards 9,750 in the expiry week and any dip should be used as buying opportunity.
Sudarshan Sukhani of s2analytics.com advises buying Hindalco Industries.
Chandan Taparia of Motilal Oswal Securities advises buying Petronet LNG and ITC.
The level of 9,700-9,720 will be the immediate resistance above which uptrend would confirm and the market will remain upside for over short to medium term.
Ashwani Gujral of ashwanigujral.com advises buying Motherson Sumi, Sundram Fasteners, Balkrishna Industries, NBCC and Tata Steel.
Rakesh Bansal of RK Global is of the view that one may buy NHPC with a target of Rs 35.
Mayuresh Joshi of Angel Broking is of the view that one may buy Hindalco Industries on dips.
JP Morgan considered Tata Steel to be ideally positioned as a stock given the confluence of global industry tailwinds, domestic tailwinds and company restructuring.
Mitessh Thakkar of mitesshthakkar.com suggests buying Tata Elxsi and Tata Steel.
Sandeep Wagle of powermywealth.com suggests buying Tata Steel and Tata Elxsi.
Ashwani Gujral of ashwanigujral.com advises buying Tata Steel, Simplex Infra and Adani Port.
Ashwani Gujral of ashwanigujral.com is of the view that one may hold Tata Steel.
Tata Sons will buy about 83.6 million shares in Tata Motors at or around the prevailing price of the stock on the date of the planned acquisition, it said in the filing.
Some quality names in IT and pharma are available at appealing valuations which are attracting smart money into these stocks.
The total category wise asset under management (AUM) of the mutual fund (MF) industry slipped by 1.2 percent or Rs 22,327 crore to Rs 19.03 lakh crore for the month of May 2017, but equity funds saw an increase of 2.7 percent in the same period.
CNBC-TV18's Ekta Batra lists out stocks that you should focus on.
Ashwani Gujral of ashwanigujral.com recommends buying Can Fin Homes, Piramal Enterprises, Tata Communications, Tata Steel and Century Ply.
Prakash Gaba of prakashgaba.com is of the view that technically, the trend is still up and has not been compromised though it is stretched and so un-stretching is not ruled out. He feels that and the crucial support to watch still is 9580 and the resistance is at 9724.
Pankaj Jain of SW Capital is of the view that Tata Steel looks strong for target price of Rs 560 in next couple of months.
Mitessh Thakkar of miteshthacker.com recommends buying ICICI Prudential and Tata Steel.
CLSA said a confluence of positive factors should drive a rerating of Indian steel stocks.