Sensex inching towards 50.5/50.7K level
l AARTI IND - Above 1295 with a target of 1320 and Stop loss of 1270. It is an upward trending channel and on the verge of a breakout.
2. GRANULES - Above 320 with a target of 330 and Stop loss of 310. It has reversed from the support zone.
3. ADANI TRANS - Above 860 with a target of 890 and Stop loss of 840. It is an upward trending channel and on the verge of a breakout.
4. JUBLFOOD - Above 2947 with a target of 2985 and Stop loss of 2925. It has a support of 40 EMA.
5. INDIGO - Above 1782 with a target of 1820 and Stop loss of 1750. It has reversed from the support of 8 and 40 EMA.
Mumbai: The market remained volatile throughout the day but finally closed above 50,000 levels. The 50-day moving average was a major hurdle for the market and is positive for the medium-term trend of the market.
Based on it, the Sensex could move closer to 50,500/50,700 levels. Surprisingly, support is still at 49,250 levels. The formation of a double bottom in the Bank Nifty is working positively. The Bank Nifty is expected to move closer to 35,000. Maintain a stop loss of 33,850," says Shrikant Chouhan, EVP, equity technical research at Kotak Securities.