Markets last week rose above their crucial marks with capital goods, banking and technology being best performers and so closed climbing more than 1.5%. Nifty future surpassed 100 day EMA of 6126 and closed above it. Now, 6210 may act as next key mark acting as resistance above which 6250 is seen as major resistance. While, support is seen around 6080 and any closing below this may drag it towards major support of 6000. Key event to affect market volatility in the coming week is F&O Expiry.
NIFTY WEEKLY :
WEEKLY MARKET TREND:
Weekly wrap: Banks, power shares lift Nifty as Budget neutral.
Wall Street dips with S&P 500′s record high in sight.
Tata Power, Adani Power in focus ahead of CERC tariff order.
HCL denies report of founder Shiv Nadar seeking buyer for $10 bn stake.
Shree Renuka Sugars slips 10% on fears of equity dilution after Wilmar deal.
Weekly Stock pick:
ABAN IS CONSOLIDATING AROUND THE IMMEDIATE RESISTANCE SINCE LAST TWO WEEKS WHICH IS EXPECTED TO GIVE BREAKOUT.
BUY ABOVE 526.50 TARGETS 550-580. MAINTAIN SL OF 496.
Weekly Stock Calls:
ABAN BUY ABOVE 526.50 TARGETS 548-570 SL 496.
TITAN BUY ABOVE 239 TARGETS 244.50-250 SL 231.
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SOURCE : TRIFID RESEARCH