Do you recommend any fresh stock buying tips on Thursday 10 December from a short to medium term perspective?

On Wednesday, the positive A/D ratio was indicative that there was still action outside the heavyweights in the market. That is good news because you can take very stock specific calls instead of trying to take macro calls. Here are my two trading tips for the day.

· If you have forgotten ITC in the last few months, and you cannot be blamed for it, here is a chance to buy ITC at Rs.204 for targets of Rs.225 in 1-2 months time frame. The stock has long been a value play and now a slew of FII upgrades have brought the focus back.

· Here is a word of caution first; this is a high risk call. If you have a higher risk appetite, buy South Indian Bank at Rs.10.20 with targets of Rs.17 in 3 months. It is a small old private bank and is reasonably valued at the current price with limited downside risk.

To put my recommendations in perspective, markets are fairly delicately positioned at current levels. That means; upsides will be relatively tougher from here. However, the positive cue is from the low level of VIX which still remains in the 18 to 19 range. That broadly indicates a buy on dips market with limited downside risk, so the story is long.