Bajaj Finance, Hero MotoCorp likely to be in limelight today

1. Bull market or bear market today?

Markets are likely to be in a tight range of 11180-11000 zone, if able to sustain above 11180, then we may see a quick move towards 11350 zone.

2. Stock likely to be in the limelight today?

Bajaj Finance stock is showing an overall uptrend and has given fresh breakouts on daily charts, hinting that the stock may see a quick move towards Rs 3,600 if it manages to hold above Rs 3,250. Hero MotoCorp has given the fresh breakout on the daily charts, can hit Rs 2,720 -2,800 level on the higher side if managed to hold the Rs 2,500 zone.

3. Sector likely to impact the market today?

Nifty Auto looks good at the current juncture as the index has given a small breakout after showing good positive divergence on the daily charts.

4. Your mid-term view?

On weekly charts Nifty again moved in the rising channel pattern, suggesting upside to be intact for the near term. The index has good support near 10750 and a strong hurdle is coming near the 11350 zone. The mid-term range for Nifty can be between 10500-12000 zone.

Rohit Singre, senior technical analyst at LKP Securities