Auto, PSU stocks to outperform in the short-term: Vinay Rajani of HDFC Sec

Nifty is in continuation of an uptrend. Every dip is getting absorbed by market and momentum has been in the favour of bulls. Support for the Nifty has shifted to 14,450 odd levels and unless that breaches, traders should remain bullish. Auto and PSE good sectors are likely to perform well for the short-term. Immediate resistance for the Nifty is seen at 14,890. Stoploss in longs should be kept on trailing basis.

Stock recommendation:

Buy Coal India (146.85) | Target: Rs 154 | Stop-loss: Rs 141

The stock has formed a 'rounding bottom' formation on the daily chart. Its price has