Market outlook: Bajaj Auto, Havells, Wipro will be in focus
Bank Nifty traded volatile and witnessed profit booking in the second half. Weakness in the rupee at above 69 levels also hurt sentiment in the market.
Bull market or bear market?
Likely to trade in a range with a negative bias and the positive momentum will be only above 11000 levels
Stocks likely to be in limelight today?
Bajaj Auto, Havells, Wipro will be in focus
Sectors likely to impact market today?
Sharp correction in crude prices provide comfort to the OMCs. Pharma sector looks attractive after the correction.
Your mid-term view?
On the lower side, Nifty will find support at its 20-DMA at 10800 level. However, its 76.4% and 100% Fibonacci Extension levels of prior up-move (9,952-10,929) will work as a major hurdle point for the index.
What drove markets on Thursday?
Bank Nifty traded volatile and witnessed profit booking in the second half. Weakness in the rupee at above 69 levels also hurt sentiment in the market.
By Vikas Jain, senior technical analyst, Reliance Securities
Source: DNA Money
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