Markets once again closed on a negative territory. The weekly fall for Nifty was 3.6%. The idea is to find which stocks can help us outperform the market within the broader indices.
Stocks which are falling with the market but not rising with the market rises:
Stocks which are falling with the market but not rising with the market rises:
- PNB
- State Bank of India
- ACC
- Tata Steel
- Sail
- Rel Infra
- Ranbaxy
- ONGC
- NMDC
However among these according to our proprietory model PSU banks are looking extremely oversold from medium term point of view. Hence one can gain exposure to these stocks. Either take position in a PSU Bank ETF. Among the stocks Canara Bank looks extremely oversold. One can buy at 241.6 with a stoploss at 225 for a target around 280-300. Similarly Tata Steel is another stock which appears very oversold. One should take position in this counter so that you lower your risk.
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