Markets gave off from days high and ended in green. Nifty is expected to trade in the range of 6050 on the lower side and 6150 on the higher side and any strong move on either the side will decide the trend. Support for Nifty is seen at 6050/6020 levels and a close below this level will further drift Nifty lower to test 5950/5920 levels. Major positive development can be seen only if Nifty closes above 6250 level until then expect selling pressure to continue.
Support: Major support level 6000/5980.
Investment Ideas----->
- SUN PHARMA @ Rs. 570 (Target Price: Rs. 697)
Trading Ideas----->
- Positive bias – Escorts (Target 134), Biocon (Target 426), Mcdowell (Target 2951), PTC (Target 71), Adani Port (Target 186) & Apollo Tyres (Target 92). Traders maintain stop loss accordingly.
