Nifty decisively broke above the 11,200 mark to close the day at 11,300 driven by IT and cement stocks. However, banks and FMCG stocks remained under pressure. Now 11,200 will be like a support for the Nifty, though we cannot confirm upsides. Here are some ideas.

· Buy Ambuja Cements at Rs.215 for upside targets of Rs.245 in one month. Pick-up in cement demand from rural and semi-urban sites is likely to keep demand buoyant.

· I reiterate that traders must use the correction in Biocon to accumulate the stock at Rs.398 for targets of Rs.450 in one month on Syngene and Biocon Biologicals play.

· Buy CDSL at Rs.356 for targets of Rs.385 in one month. The spurt in demat account openings and greater shift towards delivery benefits CDSL big time.

The Fed rate decision and the tone of the RBI in terms of monetary policy will be the key policy cues going ahead.