Market rally sustainable and any dip an opportunity; betting on 2 PSU stocks: Vishal Malkan

economictimes.indiatimes.com:

Vishal Malkan of Malkansview.com, says the benchmark indices are moving slow but steadily with Nifty making new highs almost every week. Along with this, broader markets are also participating, especially the blue chip companies. I think this rally will still continue or at least sustain. There might be like 200-300 point correction which is hardly a percent or two but will provide buy on dips opportunities.

As of now, at least the benchmark indices are quite subdued and nothing exciting there but broader markets is where the fun is happening. What is your thought in terms of the benchmark indices? Do you think that now is a time to be a bit cautious on the markets?
Vishal Malkan: I would say that benchmark indices are moving slow but steady.

Nifty especially is making new highs almost every week. So this is a good sign and broader markets are also participating, especially the blue chip companies. That is why I think this rally will still continue or at least sustain.

So there is nothing much to worry about. There might be like 200-300 point correction which is hardly a percent or two but will provide buy on dips opportunities. So I would go with buy-on-dips on the top performing sectors like auto, infra and realty.

Is there anything that you see in terms of an action that is happening in that oil and gas space? Gujarat Gas that is buzzing quite a lot in trades. Is there anything specific on the charts for something like Gujarat gas?
Vishal Malkan: Gujarat Gas had a stupendous rally in the last few days.

Of course the momentum is on but buying at this level does not qualify for the risk reward ratio. I would like to have a dip on that, maybe around Rs 540-544 where I can take a bet on with a stop loss of Rs 535. I