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Metals, private banks and consumer stocks will impact the markets today

Nifty 50 index has support near 11500 levels; if breached on a closing basis, we could be set in for sharp profit booking in index pivotal with a potential target of 11250-11300 levels

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1. Bull market or bear market today?

Nifty 50 has broken its short-term average. The positive momentum will be only above 11700 levels.

2. Stocks likely to be in limelight today?

ICICI Bank, Bharti Airtel, Titan and VEDL stocks will be in limelight on the back of results.

3. Sectors likely to impact market today?

Metals, private banks and consumer to be in focus, while IT could be on the positive side.

4. Your mid-term view?

Nifty 50 index has support near 11500 levels; if breached on a closing basis, we could be set in for sharp profit booking in index pivotal with a potential target of 11250-11300 levels. India VIX has gained by 10% to close at 3-year high and we expect sharp volatility as we are nearing election results and individual companies results.

5. What drove markets on Monday?

Nifty 50 opened lower on the back of global cues and trade war concerns. It traded weak throughout the day with sharp profit booking in metals, media and realty index that lost 2.2%, 2.1% and 1.5%, respectively. Except for IT index that ended flat to positive, other indices on an average were down by 1%. Nifty 50 ended 114 points lower at 11,598 levels.

Vikas Jain, senior research analyst, Reliance Securities

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