Nifty and Sensex showed a sharp bounce on Wednesday. SGX Nifty is hinting at a positive trend on opening and the macro data has shown some signs of encouragement. The only concern could be the sharpening lockdown measures in some states. Here are some tips.

· I again suggest buying Tata Steel at Rs.325 for targets of Rs.400 in one quarter. First quarter saw record steel exports to China and greater thrust on local steel for infra.

· You look to buy DLF around Rs.150 for upside targets of Rs.200 in one quarter. DLF is most likely to benefit from the turnaround in demand and spending and zero debt shift.

· Accumulate Manappuram at Rs.156-158 levels for upside targets of Rs.220 as gold prices extend gains further. It can be a good proxy for rising gold prices.

Core sector numbers and the PMI data have given the first hints that recovery may be commencing in the economy. That could spur markets higher.