Focus on FMCG, Auto stocks

Mumbai The Sensex is steadily reaching towards its peak of 52,517. Buying action in Titan, ONGC and L&T helped Sensex to close at a record high. Tomorrow is credit policy and the outcome of the RBI announcement could dictate the trend. "For the Sensex, 52,000/52,800 are the support levels, however, the resistance is close to 52,517. The 52,517 level could be a big hurdle. Investors shouldn't act aggressively in a rising market, and hence should buy on dips or stay stock specific. The focus should be on FMCG and Auto stocks.," says Shrikant Chouhan, EVP (equity technical research), Kotak Securities.

STOCK PICKS

• l ICICIPRULI - Above 575 with a target of 583 and Stop loss of 568. It is trading in a Strong uptrend and is on the verge of a fresh breakout.
• CASTROLIND - Above 135 with a target of 139 and Stop loss of 131.Is has support of 8 and 40 EMA.
• ACC - Above 2040 with a target of 2085 and Stop loss of 2000. The stock is in upward trendand is on the verge of a breakout.
• DABUR - Above 542 with a target of 550 and Stop loss of 534. It has a support of 8 and 40 EMA.
• HDFCBANK - Above 1527 with a target of 1547 and Stop loss of 1505. It has reversed from the support of 8 EMA.

(Source-CapitalVia)