NIFTY VIEW
Market continues to hold its level with stock-specific movement. VIX continues to be high, though lower than all-time high, which brings in lot of choppiness in stocks. Midcap sector continues to underperform. Support for the day is seen at 38,700/11,650 for Sensex and Nifty, respectively while resistance is seen at 39,270/11,800. Bank Nifty would have a range of 29,400/30,000. Sector wise, Energy and metal look comparatively positive while IT sector now witnesses fatigue at higher levels. Bank Nifty shows only stock-specific move, keeping the sector well within its range.
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CMP: Rs 586.45
TARGET: Rs