Market Outlook: Nifty, Bank Nifty on divergent path; 2 stocks to short

Sameet Chavan of Angel Broking recommends shorting Titan and UBL as the counters look weak on the charts

Nifty Outlook

Banking continues to impress; but some distortion in midcap index

The week started with a decent bump up which was then followed by yet another gap-up on Tuesday to reach new milestone of 18,600. However, the high-beta midcap counters (recent movers) started correcting fiercely, which dampened the overall sentiment in the market.

The Nifty had a rub-off effect of this and in the process; it came off slightly in the following couple of sessions as well. Thursday morning, the global markets were a bit stable and as a result, our markets opened with a decent