Markets may witness time-wise correction from the current levels because of the ongoing rally in interest rates and commodity prices, according to technical analysts. The indices welcomed the March series on a positive note as markets find some relief from the relentless selling seen in the few weeks. On the other hand, Metals and select pharma counters are expected to outperform the markets in which Tata Steel Vedanta , Hindustan Zinc and Biocon will be our preferred bets in the near term. On the index front, short-term traders may create long positions in the Nifty keeping strict stop loss placed below 10,400 for targets of 10,650-10,700 levels. (The author is Head of Equity Research, Karvy Stock Broking.

Source: Economic Times February 26, 2018 02:37 UTC