On Monday, the correction was led by the Bank Nifty which fell close to 4%. The fall was exacerbated after the RBI Financial Stability report hinted at the gross NPAs of banks increasing from 8.5% in Mar-20 to a level of 12.5% by Mar-21. Here are some tips.

· It is time to sell Havells around Rs.598-600 levels for lower targets of Rs.550. The Jun-20 quarter was bad and Lloyd Electric will continue to be an overhang.

· Use the fall in Biocon stock to accumulate as hidden value of Syngene and Biocon Biologicals are not manifested. Buy Biocon around Rs.398 for targets of Rs.450.

· I reiterate my high risk trading call on AU Small Finance Bank after the latest results at price of Rs.790 for targets of Rs.850 in one month.

All eyes will now turn to the outcome of the RBI meeting and the FOMC to see the future traction on the rates front. 11,200 may be Nifty resistance for the time being.