Market in a bullish trend; buy these 2 stocks on dips now: Shilpa Rout

Shilpa Rout, Derivatives Analyst, Prabhudas Lilladher, says she has two picks right now. One is a buy in Oracle Financial Services Software (OFSS). It has been consolidating above Rs 3,600 for a couple of sessions now and holding quite well. The stop loss is at around Rs 3.620 for intraday, one should look for targets of Rs 3,700 and above zones. The other one would be a buy in Chambal Fertilisers. It is giving a good breakout with a stop loss of Rs 280 from here. Look for targets in Rs 325-330 zone.

First up your take on the market, is it just a bump in the road or do you expect the markets to consolidate around the current levels?
The correction that we are talking about today is just a minor dip that was supposed to happen because 18200-18250 zones were offering concrete resistance. A dip towards 18,000 cannot be ruled out on Nifty and likewise Bank Nifty moving towards 43,000-42,800 cannot be ruled out as well. But these are only buying opportunities because the market is in a very bullish trend and one should be participating on every dip.

What should one buy on dips?
I have two picks right now. One is a buy in Oracle Financial Services Software (OFSS). It has been consolidating above Rs 3,600 for a couple of sessions now and holding quite well. The stop loss is at around Rs 3.620 for intraday, one should look for targets of Rs 3,700 and above zones. The other one would be a buy in Chambal Fertilisers. It is giving a good breakout with a stop loss of Rs 280 from here. Look for targets of Rs 325-330 zones.

Talk to us about some of the big movers in the market today. Of course, Interglobe Aviation is one stock that everybody is talking about but there are also RVNL, BHEL. They are all gaining traction, anything that is catching your attention?
Interglobe has been flying high since yesterday because of the news for Go Air. It has been riding the rally and from here as well, one can look at targets of Rs 2,200-2,280. It is very well poised and with a stop loss on dips, one should be buying on dips till Rs 2,100 and it should be a very good gaining script from here.