morning thoughts...
The markets continues to trade volatile and swing both ways with pressure on higher levels and will continue the same pattern in the coming sessions with nifty finding supports at 10200 and bank nifty at 24750 with resistances at 10500 and 25500 respectively
Stock specific action will continue with sectoral shifts and and sectors like IT , steel ,aviation , nbfc, pharma may see renewed buying interest at lower levels
Banking sector has faced much pressure after recent events and a technical bounce is not ruled out so private and certain psu banks may inch up , yes bank , icici , karnataka bank , sbi , axis bank may see some bounce from lower levels
Amongst the steel sector jsw steel , tata steel , jindal steel and aluminium cos vedanta and hindalco looks good for upsides
As the dollar index remains stable IT cos like infosys , tcs and hexaware will see good buying at lower levels
The markets will see sectoral churning and good rotational shifts in all sectors
The pcr for the derivative markets stands at 1.15 and converging pcr stands at 1.28 with macd at 45 and brc ratio above 75%
Commodities may continue to be subdued and pressure in bullions , base metals and energy
Stocks to watch
Buy nifty and bank nifty on dips and sell on rallies
Sell gold , silver , crude , copper
Buy jsw steel , shriram transport fin , balrampur chini
Buy tcs 3000 ca , jet airways 760 ca , infosys 1140 ca
Buy arvind 400 ca , ktk bank 140 ca
The markets continues to trade volatile and swing both ways with pressure on higher levels and will continue the same pattern in the coming sessions with nifty finding supports at 10200 and bank nifty at 24750 with resistances at 10500 and 25500 respectively
Stock specific action will continue with sectoral shifts and and sectors like IT , steel ,aviation , nbfc, pharma may see renewed buying interest at lower levels
Banking sector has faced much pressure after recent events and a technical bounce is not ruled out so private and certain psu banks may inch up , yes bank , icici , karnataka bank , sbi , axis bank may see some bounce from lower levels
Amongst the steel sector jsw steel , tata steel , jindal steel and aluminium cos vedanta and hindalco looks good for upsides
As the dollar index remains stable IT cos like infosys , tcs and hexaware will see good buying at lower levels
The markets will see sectoral churning and good rotational shifts in all sectors
The pcr for the derivative markets stands at 1.15 and converging pcr stands at 1.28 with macd at 45 and brc ratio above 75%
Commodities may continue to be subdued and pressure in bullions , base metals and energy
Stocks to watch
Buy nifty and bank nifty on dips and sell on rallies
Sell gold , silver , crude , copper
Buy jsw steel , shriram transport fin , balrampur chini
Buy tcs 3000 ca , jet airways 760 ca , infosys 1140 ca
Buy arvind 400 ca , ktk bank 140 ca
