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00:00Shrikant Chauhan is joining us this morning. Shrikant, very good morning to you. Great to
00:03have you on and you know this is the day really when we have to figure out what to do. Nirav
00:07is there as well. Nirav Ashar, welcome and good morning to both of you. Shrikant, I'm going to
00:12start with you though. What is the expectation today because fundamentally the stage is set in
00:17terms of the concerns lifting etc. We showed a very very smart you know move yesterday. Do you
00:26see that momentum continuing on the Nifty and the Bank Nifty? Yeah, good morning everyone. I think
00:34see like this market is currently facing a smart pullback from the lower levels. It was a deep
00:42decline on Tuesday and after hitting the levels of 21,300 or 200 which was very close to 200 days
00:50exponential moving average, we saw smart recovery in the market. But the base part of the overall
00:56last few days sessions is that the market managed to sustain above the levels of 21,700
01:04above which it was consolidating since the last four months and that has actually supported the
01:10market heavily. In fact, yesterday also when there was decline in the market, we saw good amount of
01:15support close to 21,800 levels and from there all the way the market recovered back to 22,300 which
01:22was the intermediate resistance level for the market. But the market managed to surpass almost
01:27all its important levels and finally it closed at 22,600. So we believe that we are into extended
01:33pullback mode. We are now very close to 22,800-850 where the market has spent time when it was
01:39consolidating within the broader range. So around these levels we are expecting some profit taking.
01:45It is advisable to take some profit on long positions or reduce long positions
01:51around these levels because I am expecting market to consolidate for next few days
01:55till the markets are not crossing 23,000 comfortably. We are going to see some range
02:00bounce out of activity. So if there is any higher opening, try to take some profit. If there is any
02:04correction during the market then close to 22,400-300 the market is having excellent support.
02:10Around these levels again we should look for taking some long positions.
02:13Wow, what a positive view coming in after especially what you have seen over the last
02:19few days. Neeraj, fundamentally it seems like everything has changed even fundamentally for
02:23the markets even though these are not things that happen daily. But between Monday, Tuesday,
02:28Wednesday and of course this morning it looks like there is some stability that is returning
02:34back to markets. It is back to basics, back to fundamentals, you would agree?
02:39Yes, good morning and thank you for having me on your show. Definitely there is some stability in
02:46the market and we had a tough day as far as the 4th June was concerned. And I think the big concern
02:57is the resurgence of the regional politics, the regional political parties. This is a trend which
03:05I think needs to be understood and I think that has been the concern of the market. But I think
03:11as of now of course there is a huge relief in the market and I think the market should
03:18move up from the current levels. Yes, there are fundamental factors. Yesterday I think
03:23we had the Brent crude prices which have corrected and we have seen an impact of this
03:29on various sectors like FMCG, we have seen an impact on paints, tyres, auto sector etc.
03:38So I think things are beginning to move in various sectors. We have seen movement
03:43yesterday in metal space also and auto also.
03:48Shrikant Johan, this is the best time to know what your top picks are for this morning.
03:55Yes, I think in the last few days if we see the overall performance of sectors then metal stocks
04:04did really well. Whenever they have fallen to their extreme levels they recovered back sharply
04:09and most of the time they managed to close near to their recent highs. So based on their technical
04:16formation we are of the view that we should look for taking these stocks on the trading side. In
04:22that specifically we like Hindalco. I heard that there is some negative development. So we could
04:27see some sideways sort of activity in the first half. So maybe after the open only we will look
04:33for Hindalco. But Tata still looks really a strong candidate to buy for. It is consistently holding
04:40above the levels of 160-165 which is positive and based on its technical formation it could
04:46see the levels of 180-83 in the near term. Hindalco we were like positive but I think there is some
04:53development so we need to see later on. But Tata still at current levels around 170-172 would
04:57survive with a stop loss close to 165 with a target of 185 on the higher side. And the other
05:03stock which we like is Power Finance Corporation. It was around 570 levels. From there all the way
05:09the stock has fallen to 430-420 and now again it is recovering back. So amongst PSUs if we see any
05:17specific one or two stocks then PFC is delivering really decent return on every time frame. So PFC
05:27looks a strong bet to buy around 440-445 with a target of 475-480 and we can keep stop loss
05:36somewhere close to 430.
06:07something we would like to watch out for. Nirav, fundamentally so many stocks are available 15-20%
06:13cheaper. I am assuming what was the buy last week should remain even more attractive buy
06:19yesterday and today. Anything that you have picked in this recent fall that looks attractive because
06:25there are still some stocks out there that are looking relatively cheaper? Yes, I think in the
06:31auto pack we have been looking at the two wheeler space and I think we have seen good moves in
06:38Hiram Auto Corp. We have seen good moves in TBS Motor Company, Bajaj Auto. So I think these are the
06:45preferred areas for us and I think we have been selectively looking at FMCG also. We have been
06:53looking at HUL. We have been looking at stocks like Lithium-Ion batteries etc. So selectively we
07:00have been picking up stocks in this sector. Shrikant, yesterday what we did notice is that
07:11there were some areas in the market that maybe stayed out in terms of participation. So a lot
07:17of the PSU names, BDL, HAL had it quite rough even in trade yesterday. Now they were in a structural
07:22bull trend is what most technical analysts were of the opinion. Do you feel this interim breakthrough,
07:29breakdown is a buying opportunity? Do you feel like these stocks could lead the way up in today's
07:34trade and hence could potentially be constructive on them? I think see the overall momentum that we
07:42saw in last one, one and a half year it was mainly from all these PSUs and after this specific
07:50development we saw good amount of profit taking or offloading long positions. So till the market
07:59is not stabilising, till the markets are not giving the clarity that it is comfortably holding
08:04above the levels of 23,000, we could see some sideways sort of activity or some consolidation
08:09sort of activity in all these stocks. We are not expecting further more steep decline in these
08:14stocks but yes they could consolidate at the lower boundary of the entire trading page.
08:19But if we see the market starts trading above the levels of 23,000 then yes all these stocks can do
08:26again really well because see the overall momentum, the overall long-term trend is still
08:32intact. They were like not corrected at all in last two months and that's the reason we saw
08:38massive correction when there was specific development. But otherwise I am of the view
08:43that they are going to consolidate and eventually again we are going to see rally from PSUs.
08:49Well it will be interesting because remember as we said that yesterday the PSU action was
08:54very mixed. There were some which really cracked and some which did really well. We have got one
08:58which cracked a little bit yesterday by the way GRSC on our show today a bit later on. So it will
09:03be lovely to understand from them about the business aspect but today Garden Reach is up
09:07about 2.3% as well or 2.9% actually. Early rates but let's wait and watch. Nirav one quick question,
09:14yesterday the last two or three days the TDP linked stocks whether there is an actual linkage
09:19or no is separate except for Heritage Food of course which has got a direct linkage but
09:24the belief that infrastructure projects will start with a bank so from an NCC to a KCP cement
09:30to a Ramco cements all of them did really well. Would you bet on any of these and fundamentally
09:37if you are betting on any of them what are the fundamental reasons for the same?
09:41Well yes I think definitely we would like to have a look at all these stocks but it will be on a
09:48case-by-case basis and I think there is a huge potential for development in Andhra Pradesh
09:57and of course we have seen good momentum in stocks like KNR Construction yesterday
10:04NCC we have KCP which has been doing quite well. So some of these stocks could be big beneficiaries
10:11of the demand which is going to which is expected to come up in the years to come.
10:19So definitely we would like to have a look at these stocks.
10:24Okay well those stocks are up and active and half but it's time to tell you what some of the
10:30key brokers have said and remember it's a tough time for them as well. Between Monday, Tuesday
10:35and Wednesday they might have had to change the view two or three times depending on what the
10:40situation existing but now that the situation is clear it's good to get you one key view. So
10:45we're getting the Morgan Stanley view on India and they say that this remains India's decade.
10:51Actually we missed the best line of the report which says that Modi 3.0 this remains India's
10:58decade. That's the key crux of the note. Now the assumptions they are making that the 12-month
11:04forward Sensex target is 82,000 for Morgan Stanley which implies about a 14 percent upside. So that's
11:11the first thing that they see upside during the rest of the year 14 odd percent on the nifty.
11:15They say that if the earnings growth forecast through FY26 for them is 500 basis points higher
11:23than consensus. Clearly Morgan Stanley believes the next two years the earnings growth could
11:27surprise significantly positively on the upside. Remember the Morgan Stanley investor conference
11:33is four days from now and we'll be talking to Ritam Desai on this note on the sidelines of that
11:37event as well. Morgan Stanley forecast GDP growth of about 6.8 percent in FY25. Not bad again you
11:44could argue maybe slightly higher than the consensus or more spoken about number of six
11:47and a half percent. And of course they also go on to say that from a portfolio strategy perspective
11:53they like cyclicals over defensives and large caps over the small and mid caps. So this doesn't change
12:00too much. The fact that they like cyclicals over defensives which means that they are reasonably
12:05aggressive and from a sectoral perspective except for these four sectors they are underweight
12:10everywhere else. So they are overweight financials. They are overweight technology. They are overweight consumer
12:16discretionary and industrials and they are underweight every other sector. But guys 82,000
12:24on the Sensex as per Morgan Stanley for the rest of the year. That's not that's not bearish at all.
12:30I mean it may not be extraordinarily bullish but certainly not bearish. It's a good number. It's a
12:35good number especially in the midst of everything that we've seen and in putting in context for the
12:41recent moves. Well we've talked about a few stocks. Shrikant before we go into market open Adani stocks
12:49anything that looks good there because they also sold off very sharply after of course Monday's
12:54up move in trade here on Tuesday. Not a significant recovery yesterday. Do you feel like today could
13:00be a day when Adani stocks could make good intraday longs. In fact Savina from yesterday only
13:11in the second half we saw a good amount of buying interest in Adani enterprises as well as Adani
13:16ports, Ambuja Cement, ACC. But most of the time whenever we see there is uncertainty in the market
13:23we see specific buying interest in stocks like Adani ports as well as
13:28Ambuja Cement. Based on their technical formation I'm of the view that again we are going to see
13:34recovery or pullback sort of trend in all these stocks because the sell-off was much much sharper
13:39than expectations and it was the all these stocks have broken their important supports. So we need
13:46to see that whether they manage to sustain above their important support levels on a weekly basis
13:52or not. I'm to say on Friday but for the day yes we could see the levels of maybe 14 30 14 50 sort
13:58of levels for Adani ports and for Adani and for Ambuja also 6 20 25 looks achievable. But at
14:05current levels I think the trading opportunity is not that favorable because the risk reward
14:09ratio is not that favorable. So it is better to stay away but yes if there is any position then
14:14try to reduce those positions close to important resistance level. I'm expecting all these stocks
14:19are going to consolidate for next few more days. Shrikanth just wanted to get your take on
14:27a couple of counters that have seen news flow today and are doing well as well. Uno Minda do
14:31you have a view over here? Seems well poised for the whole EV push as well and BHEL with that big
14:38order win. Yeah Seelink for Uno Minda it is consolidating and it is relatively outperforming
14:48to the entire space. It is holding well above the mark of 850 900 which is which is certainly
14:53positive and whenever the stock is rallying it is consolidating and again rallying to the next
14:58levels. So this time also I am expecting stock to spend some more time between the levels of maybe
15:04900 and 850 but eventually we are expecting stock to move towards 1000 1050 sort of levels.
15:10No doubt previous highest levels 930 940 is going to act as immediate resistance for it but the
15:16broader pattern is suggesting us that the stock is bullish and the other stock on which we are on
15:22which you discuss is BHEL. Yes there also we saw dip decline but the stock is still holding well
15:30above their monthly and quarterly loads so which is positive. I would say the stock is still into
15:35uptrend and we could see the levels of 300 310 in the near term. What about banks? You know we've
15:44been betting on a recovery in banks or an extension of the rally and most people have said they like
15:51private sector banks versus PSU from a medium term outlook. What is your take on HDFC bank?
15:58There was also a report by UBS that said FBAs have to come back which is only a matter of time.
16:03HDFC bank could be a key beneficiary to that. Nirav that's for you.
16:08Yeah I think HDFC bank definitely we have a long-term view over there and of course at this
16:18point of time there is a certain amount of uncertainty but I think it remains a buy. It's
16:26a stock which we have been acclimated. Apart from that we've been looking at ICICI bank,
16:32state bank of India. Nirav just wanted to get your take on the whole FMCG
16:40pact. The last two days have been brilliant for them but in the context
16:44of perhaps a defensive play, new government focus etc. What happens now to all your dabbers and
16:51imamis etc. Do you see more of a run-up there or they go back to sort of the deep freeze for a bit?
16:59Yes I think we expect some consolidation in these stocks because the run-up has been quite sharp
17:05and I think most of the positives have been factored in also because yesterday as we had
17:10discussed that in the case of HUL they've got the benefit of the revival in the rural economy
17:18plus the prices of Kuru oil which have cooled off and we know that 51% of the portfolio is
17:27soaps and detergents where we have crude based derivatives. So I think that is going to ease
17:33the margin pressure also as far as HUL is concerned. So HUL benefits on account of this.
17:40We have other companies like Dabur which are ahead of the curve as far as the investments
17:46are concerned and the various investments which they have made have helped them to report
17:53a growth in rural markets which is 400 basis points above the urban. So I think all the hard
17:59work which has been done by these companies is really paying off as far as the companies are
18:05concerned. On the other hand we have smaller players like Jyoti Laboratories also which have
18:11reported fantastic operating leverage. While the sales are up around 12% the EBITDA has moved up
18:18by around 52%. So this is the kind of margin expansion which has happened in some of these
18:23companies and I think the valuations are now trying to play catch up with these developments.
18:32Okay well 48 seconds left for the markets to kick start trade. Maybe I've missed this Srikant
18:38but and maybe we've done this but I'll still ask you at the end on the basis of the pre-open rates
18:45that they have settled down. We have 30 seconds Srikant if you had to bet on one stock which one
18:49would that be? Yeah I would like to go with HDFC Bank. The reason is because it is holding
18:56comfortably above the levels of 1550-1560 where it has spent a lot of time. So based on technical
19:02formation I think the stock can move to the levels of 1650 or 1660 in next few days. So it's a buy
19:08if there is any correction then I don't think that the stock will go below the levels of 1520.
19:12So the risk reward ratio is quite favorable for creating long positions. Got it Srikant thanks
19:17and that's HDFC Bank and it's also not open very high so you still have the ability to be able to
19:23go out and buy. It's a very liquid stock watch out for HDFC Bank from a trade perspective.
19:27Half a percent higher for the Nifty 50 about 100 odd points a third of a percent for the Nifty.
19:33The banks flattish though wonder maybe it's FMCG which is taking the markets higher maybe we'll
19:38talk about it. Mid caps up about a percent so that's the big thing the market breadth
19:42would be very positive because the small cap index is up 1.5 percent. Usually this is what
19:47happens on a flurry day of the Nifty the small caps underperform and then they start outperforming.
19:53FMCG is in the green let's pull up the Nifty 50 heat map and see what is actually driving
19:58the markets higher because Bank Nifty was not necessarily very buoyant. Okay it's a slate of
20:04PSUs which are doing this. So NTPC, ONGC, Coal India, Power Grid, BPCL. Srikant John mentioned
20:12about PSUs perking up they're certainly taking the index higher. Adani Enterprises is up about
20:171.3 percent as well not a PSU but just laying it out that that stock is in the green. Adani Ports
20:21is up about a percent Tech Mahindra is up about a percent. So it's actually a varied set of names
20:26which are doing well on a day when it seems to be even Stevens between the red and the green or
20:30maybe a bit more green but clearly PSUs holding fort very very strongly two and a half percent
20:36now up for Adani Enterprises watch for that. What's not doing well actually the trade of the
20:40last three days just taking a bit of profit booking maybe HUL down two percent, Britannia
20:45down one and a half percent, Nestle down about a percent, Tata Consumer down slightly around a
20:51percent and a lot more green now the Nifty up half a percent. Well very very very different move
20:57than what we were used to the last two days for some of you might have gone long on the FMCG stocks
21:02based on yesterday's up move well we'll ask Srikant if the stop losses have been triggered or no
21:07based on yesterday's closing calls if you took it long but clearly PSUs and some of the high beta
21:14names are coming back on the index wonder if that's the case at the broader end of the spectrum too.
21:18Absolutely that was the question we asked Nirav just before open to do all the FMCG numbers go
21:24back into the deep freeze where they've been but the broader market's doing even better and one and
21:30a half percent up on the mid-cap 150 let's pull up the small cap index as well two percent up so
21:36that's where all the action and excitement is really being seen so just a couple of you know
21:41stocks that we want to talk about this morning we put together that whole basket of sort of TDP
21:46impact stocks we've been seeing moving very interestingly since the last couple of days
21:52and we're pulling that up as well heritage foods 10 percent up again ramco cements taking a bit of
21:57a breather now why have we picked this stock because some of them are based in Andhra Pradesh
22:02some of them have you know heritage food for example has some of Chandrababu Naidu's family
22:08on the board etc so that's how the street is looking at it Amara Raja the person who runs it
22:15used to be a TDP MB Jaydev Kalla six percent up on that KCP another 18 percent up this is something
22:21Neeraj has spotted in terms of location wise close to Vijaywada which is the dream city for
22:28Chandrababu Naidu now defense has also been seeing a recovery we'll pull up some of those numbers
22:34HAL remember HL was beaten down the last couple of days about six percent up today so that's that's
22:40where the story is really going BHEL has that order win coming in from Dhani group so that's
22:47eight percent up for BHEL fantastic opening for this stock UNOMINDA RVNL all of them with order
22:53wins or tie-ups today UNOMINDA an interesting stock to watch out for in the whole EV focus
22:58in Modi 3.0 about six and a half percent up RVNL was the order win about 290 300 crores from
23:06Indian Railways five percent up this morning just Century Textiles and Torrent Pharma the other two
23:10that I'll pull up they were a newsy stocks that we were talking about Century Textiles has a joint
23:16venture for a luxury property in Gurugram so six and a half percent there Torrent Pharma
23:22has seen the nod for a new drug in India not moving too much but not bad one percent up in
23:28the green so I've picked all the winners Samina and I think that's the large scale mood in the
23:33markets it's not looking too bad for the broader markets this morning topping the list of gainers
23:38is BHEL on back of that order win from Dhani Power I don't know whether Tamna mentioned that but the
23:42stock is up nine percent as we see it railway stocks back in focus defensive stocks also not
23:49defense stocks also not doing too badly Titagar Rail is up eight percent Cochin Shipyard is also
23:55up about eight percent these were stocks that sold off very sharply on Tuesday didn't do a
24:00significant recovery yesterday but what you're seeing today is a little bit of a catch-up with
24:04their peers in trade Mazgan Docks is up six percent pull up Garden Reach as well these are
24:09very early in simple trades all through the last quarter where it was a down day and you know you'd
24:14pick up these defense norms and you would be in the money pull up HAL and BDL as well while we're
24:19at it because those sold off in trade yesterday as well HAL is up five and a half percent the
24:24stock looks good BDL which also got beaten black and blue is up about five percent as we see it so
24:29not a bad day for these counters in trade apart from that Jupiter so rail is also doing well like
24:35I said Titagar Wagon RVNL on back of order when Jupiter Wagons is also seeing a seven percent
24:41uptick along with that you've got PFC REC that are looking good all Adani counters are also
24:46trading in positive territory NBCC they had a pretty big order win let's see what they're getting
24:51up to as well you should see an up move on a seven percent on NBCC so back are the days of
24:57seven ten twelve percent sort of gains on stocks in the broader markets real estate continues to
25:03look good you've got infrastructure names also trading with a very very clear positive bias
25:10NCC Gale are some of the other names that are having a relatively strong start in trade this
25:16morning on the sell side it's defensives profit taking after two days of a strong up move across
25:21consumption names HUL Britannia Godrej Nestle are your top gainers with cuts of two to two and a
25:28half percent trade Imami Darbar United Breweries Maricor also trading with cuts of two percent
25:34pharma also looking quite weak Dr. Lal's trading with half a percent cut so it's risk on from the
25:40look of it but Shikant very quickly markets have opened up some with a pretty pretty big gap up
25:46give me a quick trade for today after seeing what we've got in the last after seeing market open
25:52yeah I think select market is again reversing back after hitting the levels of 22,800
26:00so we are of the view that today it is better to focus more on stock instead of focusing more on
26:04the index I'm expecting market to consolidate at higher levels but in this particular space
26:10if we really like would like to go for any specific stock then Bharat Electronics looks
26:18looks good because yesterday there was hardly any momentum in all these defensives but today
26:24we are expecting defensives in that defense stock specifically to do well we like Bharat Electronics
26:32which is around 275 there the target is around 295 and we can keep today's low as a stop loss
26:39which is around 265 we also like Bank of Baroda from the PSU banks and in that
26:48currently it is around 267 but the target is around 280 keep a stop loss somewhere close to
26:53262 for the same. Tata Steel buzzing this morning let's just pull up that counter so Tata Steel has
27:00clarified that they are in discussions with the Dutch government for a decarbonization roadmap
27:06premature to draw any final conclusions at this time they are responding to a newspaper report
27:12which claimed that the Dutch government is paying them 3 billion euros for decarbonization now
27:19they're saying that no I mean we're still in discussion so it's premature I think that's
27:22still a positive because at least that discussion is on so the stock doing fairly okay one one and
27:28a half percent up Nirav I just wanted to get your take on the entire metal pack and you know Tata
27:34Steel of course on that one news flow but what's the broad view there? Yes I think we remain
27:41positive on Tata Steel as well as the Steel Authority of India and as far as Tata Steel
27:47is concerned as well as the entire steel industry the focus is on clean steel green steel and
27:53sustainable steel so I think there is a lot of move which is happening towards decarbonization
28:00and moving towards the electric arc furnace route and I think that augurs extremely well
28:06for the entire industry so I think the frontline steel players should continue to do quite well.
28:13This thing about Tata Steel one that the government will pay money because you can
28:19kind of understand why it would happen in the Netherlands a country very low-lying country very
28:24very strict about what is happening as far as emissions go because they face a threat about
28:30rising sea level so in some sense you can almost believe when something like this comes out that
28:35if it is possible yes it is possible in the Netherlands to I mean Tata Steel gets we don't
28:41know the quid pro quo for something like this I mean is there is it just a grant it may not be
28:46profits but even if it is yeah to pay outs and incur the whole expenditure but even if it is
28:52a grant without anything Tata Steel has to give and if it helps them just clean up the plant
28:57because they would do it for Tata Steel because it's a major employer. No and also Neeraj when we
29:02spoke to them at this quarter earnings I think while they had resolved all the issues in the UK
29:07in terms of plant closures and made those payments struck that deal with the government
29:12there was a little bit of an overhang because there was no indication in terms of conversation
29:16with the Dutch government. Of course when we spoke to them they said that they expected to
29:20fall on track and be exactly in line with the kind of deal that they'd struck with the UK government
29:25but if you look today in the UK situation they had to shell out money and if this three billion
29:31is coming their way for changing their plans that was for employment that was for plant closure
29:36yeah this is for an environmental yeah moving to a an efficient uh but that investment could have
29:42to come from them as well right yeah the fact that the government is and the fact that these
29:46conversations have been underway had been an overhang on Tata Steel. I suppose European Union
29:51is also very very clear about moving to uh you know cleaner industry and are willing to pay
29:57and are willing to pay for it yeah yeah especially in the Netherlands because of the
30:01and of course TISCO being such a large employer yeah yeah interesting interesting so Tata Steel
30:06in focus or railway stocks in focus. Srikant just wanted to get your take on on any of that back
30:12rail PSUs all of them completely shining today so as I saw the defence players Cochin Shipyard,
30:19HAL all of them are back but let me start with um you know your view on which do you think are the
30:24most attractive in terms of the railway stocks yeah the one I think see like from the railway
30:31space uh we like RVNL uh the reason is because it is relatively outperforming to almost all the
30:38stocks and whenever there is a correction we see smart recovery in the stock uh the correction was
30:43also lesser than other stocks uh it is currently around 373 375 uh yes we could see some consolidation
30:50but eventually we are expecting stock to do well in the near term we could see the levels of maybe
30:554 10 4 15 sort of levels on the higher side from the defence space we like Bharat Electronics and
31:01from the power space we like Power Finance Corporation okay Srikant just one quick thing
31:09HDFC Bank is actually in the red after starting off in the green you would use this opportunity
31:12to load up yeah I think see it is yesterday there was like smart gains for HDFC Bank we could see
31:20some sideways activity but broadly we are of the view that it is going to consolidate around these
31:25levels but eventually it is heading higher because since the uh sell-off that we saw in the stock on
31:3117th of January after the dismissal of the I'm going to say disappointing numbers uh since uh
31:3817th Jan to till date we saw a good amount of bullish consolidation in the stock and now it is
31:44on the verge of crossing that so the real target which is coming out of this particular pattern is
31:50around 1750 which is unbelievable but yes this is what like we are going to see in next few weeks or
31:56months it will take some time but I think the stock is heading higher the if not HDFC uh which
32:03you do believe is in a consolidating phase what about SPI uh bounce back today
32:09yeah there also we see some activity because yesterday there was like a completely muted
32:14sort of activity in all the PSU buy-ins uh we could see some retracement but at this levels
32:20I am of the view that it is better to buy if there is any correction in the market instead of buying
32:25at this levels because the market has already reached to its important level of 22,800 and in
32:31the past if you see the overall trend and range of the market then it was between 22,800 and 21,800
32:38so yes we could see some correction let the market stabilize somewhere close to 22,500 400 levels
32:45then again uh we may look for taking some more positions otherwise we need to be more and more
32:51uh choosy while taking positions in the market all right thank you so much Shrikant thank you
32:57so much Nirav uh great uh speaking with you this morning it's it's looking like an interesting
33:02morning and uh maybe just slowly and surely markets building up steam losing some of its
33:08initial gains right now but still very much in the green above 22,700 on the Nifty