What are some of the best bluechip stocks cheap in the current Indian stock market?

Well right now, the correct question is, which stocks are not cheap. The market correction since last year has wiped out almost all the gains in respectable stocks. Like someone recently quoted," Stocks are on sale." Pile in.

I suggest you use Stock Screener for Indian Stocks: Screener.in to filter stocks that you like by their earnings performance.

Spend quality time in the near future figuring it out. Use constitutents of the CNX 500 index to choose from. Avoid small and penny cap stocks.

Hope this helps.

Currently Indian Stock Market Is Trading At Low Price And Most Of The Blue Chip Stock Are Also Very Cheap To Buy And Hold For Long Term.

Some Of The Best Blue Chip Stocks (Cheap) At Present Are : Tata Steel, Sun Pharma, Dr.Reddys, ITC, BHEL, Hindalco, Tata Motors.

Banking Sector (ICICI Bank, SBI Bank, Axis Bank)

Telecom Sector (Bharati Airtel & Idea cellular)

For Long Term Holdings Have A Look At The Energy Stocks, Companies That Are Working With The Renewable Energy Resources. (Now They Are Trading At Very Low But In The Future They Will Be Hot Stocks To Buy)

Well, In stock markets Everyday is a New Day. Exciting and innovative things happen in Stock Markets each day. These events in their wake bring new opportunities and these are yours if you are well informed.

So to invest in any stock, you should probably wait for the breakout levels of the stock in news/volumed stocks. Because flat markets usually provides wrong signals and hence stop loss triggers most of the times. And well for the breakout level/point you can use some breakout techniques as well. One of my favourite is The Bursting Setup which has been developed by The Financial Doctors. They claim this technique to give results with 1:10 risk reward ratio Also they keep updating live charts for the same pretty much everyday on their website. So you can try your hands on that. And also i guess they provide the technical analysis/advisory using the same technique. So check out for the same.