10,570-10,580 on the Nifty looks like a pullback zone, where one can get into serious longs again, said Sushil Kedia, Founder, Kedianomics.
In the last 4-5 months there has been a bit of divergence between Nifty and the Bank Nifty, where the Nifty trend has been completely bullish but the Bank Nifty has been slightly less bullish.
Sushil Kedia, Founder, Kedianomics said, the Nifty uptrend remains stronger than Bank Nifty.
However, although the Bank Nifty is a laggard, it is not yet good enough for stock rotation. The big swinger of Bank Nifty, ICICI Bank is in a trading band Rs 303-328 and for a strong trend to materialize in the Bank Nifty, ICICI Bank would have to be in a trending phase.
State Bank of India is in a downtrend and if it comes closer to Rs 290-295 and there is a reversal pattern, one can look at it as a trading buy. Currently Bank Nifty is not good to do active trading, he added.
Moreover, the individual components of the Nifty do not look like they will witness a huge thrust upwards although another 40-50 points cannot be ruled out, he said.
10,570-10,580 on the Nifty looks like a pullback zone, where one can get into serious longs again.
Meanwhile, there is only 1 percent chance that the Nifty may go below 10460 in January but if it does go then abandon all the longs and create new shorts, said Kedia.
He said he is not keen on hunting for many short trades through this year.
On rupee dollar front, Kedia said the INR has shown stupendous strength in the last few days and expect it to head to 58 to the dollar in 2018.
Dilip Bhat of Prabhudas Lilladher while sharing some stock specific ideas said from the jewellery space they still like Titan Company and in spite of giving good returns in 2017, one can expect a 15-20 percent return from it even in the calendar year 2018.
In speciality chemicals space, Gujarat Alkalies and Chemicals will do well on back of their caustic soda business. Phillips Carbon may go places from the current levels, said Bhat, adding that Himadri Speciality Chemicals also looks interesting.
In the infra space one can look at RPP.
In the interview, SP Tulsian of sptulsian.com, Ashwani Gujral of ashwanigujral.com and Mitessh Thakkar of mitesshthakkar.com also shared their view on specific stocks.For full discussion, watch video