The past week has been a week of consolitation for the markets. We saw Nifty moving in a range. The support is around 5620-5640 and resistance is at 5775 and 5850 levels. Maximum calls have been written around 6000 to 6200 levels and puts below 5600. This is an expiry week and also a shortened week. RBI policy is on the 25th which has to be watched out. Last week we saw many of the smaller banks and private banks seeing short covering and hence we saw a rise in Bank Nifty.
We feel that FMCG and metals are still looking strong and can be bought at dips. HUL and Hindalco are good stocks to buy. Hindalco has a strong support around 220 levels. HUL can be accumulated at all dips as it is in a weekly ascending channel.
No comments:
Post a Comment