Nifty, after trading range bound for most part of the week, ended with gain of over 1 percent in the passing week. The move was in line with expectation as it generally trade sideways in the last week of the year, due to Christmas and New Year celebrations across the globe.
We believe, in the near-term markets might remain sideways as we have approached 8000 mark which is a crucial hurdle to cross. Having said that, stock specific action will continue. Identifying the right stock is the key in such market situation so focus more on that aspect.
We suggest traders to accumulate stocks naming Maruti, Bajaj-Auto and Eicher Motors on dips. BRITANNIA, GODREJCP, HAVELLS are some of the better placed stocks from this space, which can be considered for short t o medium-term buying.