INSUBCONTINENT EXCLUSIVE:
By Swapneel V MantriWhere are We The week goneby saw Nifty starting New Year on a sluggish note, gyrating to various global and local news
flows amidst global growth concerns and macro volatility
Nifty closed week at 10727, tad below 200 DMA of 10781.
What is in Store Nifty has been trading largely range-bound with stock specific
action and expect to head towards 10,950-11,050 levels on firm close above 10,820-10,850 levels
On downside 10,690-10,650 is support zone
Further, as market breadth improves one can expect momentum to pick up in midcap counters too.
What could Investors Do: Investors can
accumulate quality scrips at current levels and consolidate portfolio holdings from long-term point of view
Stock specific frontline counters like Axis Bank, Bharti Airtel showing positive signs and can be accumulated at current levels for higher
targets of 690, 362 in short to medium term
Agrochemical player, UPL is showing good consolidation at current levels and expect to head towards 870 on close above 785 levels
Among midcap counters, select scrips like Amara Raja Batteries, Balmer Lawrie, Coromandel International, ConCor are displaying positive
Institutions, Sushil Finance.
