HDFC Sec: Markets may take a technical breather

According to HDFC Securities Retail Research, markets could open flat to up but take a technical breather. Some profit booking could happen today if there are no comparable FII flows today.

Bajaj Auto, Pfizer, Tata Chem and Cummins are expected to witness
signifcant action.

According to HDFC Securities' technical report, the latest development on the charts suggests that the Sensex could continue to trudge higher in the coming days.

The target for such a rise is 12016 and 3520, which are the levels above which we will shift to our next best count, and that would mean substantial gains in the coming days.

On the downside the immediate support comes in at 11780 and 11630.