NIFTY VIEW
After a brief consolidation and Nifty holding on to a crucial support of 11,550, the market witnessed a good bounce and moved past the near-term resistance of 11,650 to close above 11,700. We may witness further short covering and perhaps buying and participation once again from almost all sectors. IT continues to be in the green. The support for the day is seen at 38,760/11,660 for the S&P BSE Sensex and Nifty, respectively, while resistance is seen at 39,350/11,790. Bank Nifty would have a range of 29,560-30,180.
BUY HDFC
CMP: Rs 1,980.40
TARGET: Rs 2,120
STOP LOSS: Rs 1,910
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