Markets seem to be on a continued uptrend. NIFTY made a high of 5300 on friday. For now, upmove may continue for a few more points following which we have the probability of a good correction within this uptrend. We can expect market to test 5100 levels again before resuming any upmove. We will avoid buying at higher levels unless there is a real breakout again.

SECTORAL WATCH: AUTO stocks are moving up after a prolonged consolidation period. Tata motors, Ashok Leyland, TVS look attractive. Also the depreciating rupee will impact their margins this quarter. Keep an eye on the auto sector and BUY them for longterm investment.

PICK OF THE WEEK
DIVIS LAB - Has broken out well with an inverse head and shoulder on charts. BUY for SHORT TERM target of 1750 - 1800.