Nifty is gyrating in the range of 7,750-7,950 for past few trading sessions. With expiry slated next week intraday volatility could inch higher. Decisive move beyond the given range will trigger fresh directional move else market will continue to remain sideways.
Last Close: Rs 2,884
Target : Rs 3,160
Positive sector outlook & mature consolidation on daily scale. Stock could be accumulated with a stop below Rs 2,830 with an expectation of a move back towards Rs 3,160.
Last Close: Rs 1,645
Target : Rs 1,760
'Breakout from mature consolidation on the immediate scale .Short term traders could participate the move with a stop below 1585 for target upto Rs 1,760
Last Close: Rs 157
Target : Rs 145
Stock is in downtrend. Short term traders could participate the move with a stop above Rs 163 for target upto Rs 145.
Disclaimer: Motilal Oswal Securities ( MOSL ) is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.Motilal Oswal Securities Limited is registered under SEBI (Research Analysts) Regulation 2014 SEBI Registration No :-INH000000412. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.
Shubham Agarwal is a head of Quantitative Research, Motilal Oswal Securities