HDFC Sec: More upside likely

According to HDFC Securities, markets could continue to move higher. The markets could open flat to positive. However, the volumes are not picking up as they should, just ahead of the derivatives expiry.

An up gap in most indices on Tuesday suggests that we may be headed
higher for the next couple of sessions but then correct downwards to fill the latest up gap.

IT, public sector banks, engineering and auto stocks could do well. These include Ashok Leyland, Maruti, BEL, Bhel, BoI, Canara Bank, Syndicate Bank, Infosys, TCS and Wipro.

However keep taking profits.