Focus on insurance, tech stocks
THE market remained volatile in the first half of the trading session on the back of the previous session’s hangover, however, the second half of the trading session saw a strong rally.
Global cues, profit booking subdue indices
Stock Picks
- KPRMILL - Above 1,240 with a target of 1,290 and Stop loss of 1,202. It is trading in a Strong uptrend and has recently breached an important resistance level
- MOTHERSUMI - Above 213 with a target of 227 and Stop loss of 200. It has a support of 8 and 40 EMA
- AARTIIND - Above 1,380 with a target of 1,420 and Stop loss of 1,350. The stock is in upward trending channel and has reversed from the support of 8 EMA
- SHKELKAR above 132 with a target of 140 and Stop loss of 124. It has a support of 8 and 40 EMA
- ADANIPORTS - Above 757 with a target of 785 and Stop loss of 725. It has reversed from the support of 40 EMA.
(Source-CapitalVia)
Mumbai: THE market remained volatile in the first half of the trading session on the back of the previous session's hangover, however, the second half of the trading session saw a strong rally.
Today, the market remained well above the previous day's low of 47,775, but in the latter, the market managed to move beyond the level of 48,550, which was a significant resistance for the market. This was a unique day for the market and on Thursday the market could trade between the levels of 49,000 and 47,690.
Above 49,000 level, Sensex could reach 49,400 level. On the other hand, 48,550 and 47,690 will serve as the major support in the market. Below 47,690 levels, the Sensex would fall to 47,000 levels.
"As long as the market does not break 47,690, the market will remain in the trading range. The focus should be on insurance and technology stocks," says Shrikant Chouhan, EVP (equity technical research), Kotak Securities.
