BEML, Castrol, Divi's Labs and Concor expected to do well

Bull market or bear market?

Nifty is sustaining above the breakout level of a 'Symmetrical Triangle' pattern. Also, we witnessed long build-up in Nifty. Thus, ongoing optimism may continue towards 10980 – 11000 level in coming days.

Stocks likely to be in limelight today?

Stocks like BEML, Castrol, Divi's Labs and Concor are expected to do well in coming days. While Escorts and UPL may see selling pressure.

Sectors likely to impact market today?

Pharma and IT space may see further buying interest in coming two-three days.

Your mid-term view?

Nifty may remain in the broader range of 10700–11100 for remaining for of the January series.

What drove markets on Wednesday?

Our market ended flat as selling pressure in FMCG and Metal index evened out by a marginal rally in Banking, IT and Pharma space.

Jay Purohit, technical and derivatives analyst, Centrum Broking