Market will be volatile between 51,700 & 51,100
The Sensex closed at the highest point of the day on the weekly closing of the index options. Index giant Reliance Industries has pulled the market sentiment.
image for illustrative purpose
Stock Picks
- TRENT - Above 700 with a target of 725 and Stop loss of 685. It has a support of 8 and 40 DMA.
- BRIGADE - Above 293 with a target of 297 and Stop loss of 289. It is an upward trending channel and on the verge of a breakout.
- CDSL - Above 525 with a target of 537 and Stop loss of522. It is an upward trending channel and on the verge of a breakout.
- TECHM - Above 1000 with a target of 1040 and Stop loss of 960. It has a support of 8 and 40 DMA.
- SRTRANSFIN - Above 1456 with a target of 1475 and Stop loss of 1442. It has reversed from the support of 8 and 40 EMA.
(Source-CapitalVia)
Mumbai: The Sensex closed at the highest point of the day on the weekly closing of the index options. Index giant Reliance Industries has pulled the market sentiment. Otherwise the market participants were more interested in small-cap stocks throughout the day.
Based on the market closing, we can conclude that the market is consolidating and would remain volatile between the 51,700 and 51,100 levels until the market closes at the 51,700 level," says Shrikant Chouhan, EVP, Equity Technical Research at Kotak Securities.
The Sensex would move above the 51,700 level to 52,200. However, the market will need strong support from FMCG or IT sectors with consolidation and large support available.
