Posted By : Kishore B.S
As expected RBI kept rates unchanged, Bank Nifty traded flat. But Nifty is up by 50 points with major support from Capital goods and infra and oil & gas sector.
Going forward the stocks in Nifty Index are highly overbought and we expect small correction, which already started in IT and pharma which is an idle buy in some stocks.
We advice to buy Sunpharma trading at 600 and Dr Reddy trading at 2310