Aurobindo, Dr Reddy, TCS, Bata, RIL, Havells to steal limelight today
Technical chart and derivative data of Nifty indicates extension in an ongoing relief rally
Bull market or bear market?
We are witnessing put writing in 10500 – 10600 strikes from the last couple of sessions, which indicates further bounce in the market in coming days.
Stocks likely to be in limelight today?
Aurobindo Pharma, Dr Reddys Lab, TCS, Bata, Reliance Industries (RIL) and Havells may show positive momentum in coming days. While, Petronet, SAIL and Equitas may remain under pressure.
Sectors likely to impact market today?
Energy and IT indices are expected to do well in the remaining part of the ongoing week.
Your mid-term view?
Technical chart and derivative data of Nifty indicates extension in an ongoing relief rally. Thus, we continue to maintain our positive stance on the index for a target of 10700 - 10750. Hence, traders should hold long positions with trailing stop loss of 10390.
What drove markets on Tuesday?
The gain in index heavyweights like Reliance Inds, TCS, HDFC Ltd was evened-out by fall in Banking and FMCG counters.
Jay Purohit, technical and derivatives analyst, Centrum Broking