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Sensex inching towards 50.5/50.7K level

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.

Sensex trading in narrow range
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Sensex trading in narrow range

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Stock Picks

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.

(Source- CapitalVia)

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.

Kumud Das
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