Maruti Suzuki, Century Textiles, Tata Steel, PVR to be in focus today

Bull market or bear market?

The bull market in the short term is likely to continue for the minimum target of 10700 levels. The support or reversal is pegged at 10290 levels.

Stocks likely to be in limelight today?

Maruti Suzuki, Century Textiles, Tata Steel, PVR are the stocks which look positive in the short-term.

Sectors likely to impact market today?

Banking, Auto, Metals are likely to trade with positive bias whereas Pharma and IT are likely to trade with a negative bias.

Your mid-term view?

The mid-term view is that the current up move is a bounce in the ongoing downtrend. This bounce is of expanded flat pattern in nature and its likely to reach till its upper swing resistance or till the 200DMA i.e. 10700/10750 levels. Once this bounce is over thereafter the downtrend will resume again.

What drove markets on Monday?

Banking, Financials and Pharma traded with negative bias hence the Index closed in negative territory however at lower levels. Nifty has a good support and its likely to recover to achieve our short-term target of 10700 levels

Jay Anand Thakkar, CMT -assistant VP- Equity Research, Anand Rathi