Stock calls and outlook on Nifty by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking:
Nifty Outlook:
It was a week of consolidation for our markets as we saw a fragile start on Monday followed by some consolidation for three days and then a good pull back move to conclude at the highest point of the week. The tail end rally was mainly propelled by the heavyweight banking conglomerates along with the beaten down Midcap index.
Going by last few days’ price action, 10340 – 10300 seems to have earned great respect from the short sellers
Nifty Outlook:
It was a week of consolidation for our markets as we saw a fragile start on Monday followed by some consolidation for three days and then a good pull back move to conclude at the highest point of the week. The tail end rally was mainly propelled by the heavyweight banking conglomerates along with the beaten down Midcap index.
Going by last few days’ price action, 10340 – 10300 seems to have earned great respect from the short sellers