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Aurobindo Pharma, Adani Ports, KSCL likely to take centre-stage today

Bullish, after factoring the volatility which the current US-China trade war and the general election would bring to the markets, markets are likely to resume the upswing

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1. Bull Market or Bear Market?

Short-term bear as Nifty has broken down from rising trendline structure. It has also cracked below the long term 200-Dema of 10750.

2. Stocks likely to be in limelight today?

Aurobindo Pharma, Adani Ports, Kaveri Seeds Company (KSCL), Colgate Palmolive.

3. Sectors likely to impact market today?

Realty, IT, Metals and PSU Banks.

4. Your mid-term view?

Bullish, after factoring the volatility which the current US-China trade war and the general election would bring to the markets, markets are likely to resume the upswing.

5. What drove markets on Tuesday?

Failure to surpass its 200-Dema and crack below the previous low of 10640 saw selling pressure extend in markets. Bank Nifty too formed an uncertainty candlestick pattern which aided to weakness.

Hadrien Mendonca, senior technical analyst, IIFL Securities

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