Business
Our short-term targets are 11460 and 11500. The reversal in the short term is 11335
Updated : Aug 08, 2018, 05:40 AM IST
The Nifty is likely to continue its bull market both in the short term as well as medium term, hence any dip should be utilised as a buying opportunity. Our short-term targets are 11460 and 11500. The reversal in the short term is 11335.
Colgate-Palmolive, Titan, Fortis, UltraTech Cements, Sterlite Technologies, Tata Steel and Kansai Nerolac Paints are expected to trade with a positive bias
Bank Nifty is likely to resume its uptrend from here on. IT is likely to witness some profit booking, FMCG is likely to inch higher.
Nifty is trading in its wave 5 up and the minimum equality target on the upside comes to 11650 levels whereas the reversal for the same is pegged at 11100 levels. The extended target for the Nifty comes to 11900 levels
Metals, some Banking and Financial stocks.
Jay Anand Thakkar, CMT - assistant VP, equity research, Anand Rathi