'If anything, it was basically some amount of short covering in the PSU oil space, which had seen climatic action on Friday.'

"IT continues to look positive and hence, it is still good enough to hold on to this."

Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on market outlook.

SBI is a ‘SELL’ call with a target of Rs 2080 and a stop loss of Rs 2200.

ONGC Ltd is 'BUY' call with a target of Rs 282 and a stop loss of Rs 262.

Once we can take out 560, there could be more upside. There are chances that Lupin could get fairly close to 600.

It has not started falling today. It has a history of four days of similar declines. Given that, market is a bit sideways to down.

Bank Nifty has now broken in 9937 low, which corresponds to 5170, so it seems that the Bank Nifty is trying to lead this decline.

Broadly, once Titan crosses this 245-250 decisively, there will be a Rs 100 upside.

I am perfectly okay with the 5250-5550 type of range till the market has a clear handle on what happens in the budget, where does crude go,...

It is too late to cut longs in crude and chances are it is now in an accelerated downtrend.

Basically autos have entered a soft cycle. So there could have more downside. They would underperform in any rally.

Over the last many months Jindal Saw was between 175 and probably about 220.

IDFC was a recommendation yesterday also for buying.

Voltas bounce back from 148-150 which is a fairly important support previous bottom in Feb was made here. So you could expect another 175 k...

In case that starts getting taken out, then this was the last of the good results and then you probably wait for the stock to come to about...

Pharma is a good space because inflation or no inflation, people need to have drugs. So that will keep you safe.