Biocon, pharma stocks likely to be in limelight today

Bull market or bear market today?

Sideways to positive market. Nifty is trading in a sideways trend, it has formed a good support near 11250 zone and if managed to hold above the same the sideways move can extend in the 11250-11400 zone.

Stocks likely to be in the limelight today?

Biocon has seen a good move from lower levels with decent volume hinting it may extend its current move towards Rs 240 zone if managed to sustain above Rs 222 zone.

Sectors likely to impact market today?

Nifty Pharma may see some strength as it has witnessed good positive divergence on the hourly chart.

Your mid-term view?

Index has a good support zone near the 11000 mark. A hold above these levels bullish stance will be intact. We may see some more consolidation in short to mid-term in 11000-12000 zone.

Rohit Singre, senior technical analyst, LKP Securities