Market Outlook:
The
markets ended in red after a volatile session. Buying was seen in Auto
sector while Banking and Metal sectors witnessed selling pressure.
Nifty:
Nifty
traded within a tight range amid high volatility and ended in red.
The daily chart of Nifty suggests that a negative divergence and markets
might witness some profit booking taking place around this level. Support
is seen at 5880/5850 and a close below this level will further drift Nifty
lower to test 5780/5750 levels. Resistance is seen at 5950.
Trading Ideas
Positive bias - JP Associates
(Target 120), KTK Bank (Target 210) & Jet Airways (Target 625).
Traders maintain stop loss accordingly.
Investment Ideas
Dhanuka Agritech @ Rs. 132 (Target Price: Rs. 150)
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