Markets held well yesterday and it could let a few scrips more headroom to start the short position. Dr Reddys and Airtel continue to attract substitution from profit taking bouts that are now almost done and markets are sensitive to any further price deterioration in banks and unfortunately REC and PFC could bottom out sooner than later. infracos like MSME Lanco who have been disqualified on Portfbids could hurt much more and reality the free fall sector if indices deteriorate as a result.
Buy and hold includes banks and IDFC ( accumulate the feller) HDFC Bank is a better defense if markets remain weak and ICICIBANK and SBI a better bull front esp as SBI seems to have stopped its fall. Bank Policy has no other good times factored in and one looks forward to a good Q3 from India Inc.