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We expect the Nifty 50 index to scale higher to 11100-11200 levels until 10800 level is not breached on the downside
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Updated : Dec 21, 2018, 06:10 AM IST
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Nifty 50 index to remain sideways, but mid-caps and small-caps could show positive momentum.
Bajaj Auto, Bharat Forge and Escorts to remain positive, while Marico and Dabur to be in red.
Autos and energy sector to remain positive, while consumer staple sector could witness profit booking.
We remain positive on markets. We expect the Nifty 50 index to scale higher to 11100-11200 levels until 10800 level is not breached on the downside.
Nifty 50 index opened lower on back of global cues, but strong buying helped the index recover from its low to end a tad lower at 10,951 levels, down 15 points. Among sectors, auto, pharma and private banks were positive, while metals and PSU Banks witnessed profit booking to decline by 1.1% and 1.8%, respectively.
Vikas Jain, senior research analyst, Reliance Securities
