Business
Nifty is trading in the bear market territory and till it doesn’t close above 11200 levels its likely to trade with a negative bias for the target of 10750-10650
Updated : Aug 14, 2019, 06:25 AM IST
Bear market is likely as the Index has reversed from its 200-daily moving average. The short-term target is 10840 whereas resistance is at 11066.
Berger Paints, Reliance Industries, Sun Pharma and Aurobindo Pharma are likely to trade with a positive bias whereas ICICI Prudential Life, TVS Motors, Sun TV, Infosys and TCS are likely to trade with a negative bias.
Nifty IT and Nifty Auto are likely to trade with a negative bias.
Nifty is trading in the bear market territory and till it doesn’t close above 11200 levels its likely to trade with a negative bias for the target of 10750-10650.
Jay Anand Thakkar, CMT -assistant vice-president - equity research, Anand Rathi Shares and Stock Brokers