Nifty faced its first real resistance at 11,200 levels but correction was limited. There are concerns as Coronavirus cases exceed 40,000 daily making India the biggest contributor and raises doubts on lockdown lifting on July 31. Here are some tips to trade.

· Buy Manappuram at Rs.173 for targets of Rs.200 in 1 month time frame. With gold scaling Rs.51,500 per 10 grams Manappuram remains an underpriced bet.

· Build fresh short positions in Piramal Enterprises PEL in the 1490-1500 range for lower targets of Rs.1400 post sharp rally as upsides are likely to be capped from here.

· I reiterate my call to buy PFC at around Rs.84 for upside targets of Rs.105 in one month as a key beneficiary of the liberal power rescue plan of the government.

Nifty 11,200 continues to be the level where call writing is concentrated and that will be the pressure point for now.