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Nifty index towards 11700-12000 level - Debabrata Bhattacharjee, Head of Research, CapitalAim

Posted On: 2019-03-26 21:40:28

The Benchmark Index is witnessing a positive momentum from the beginning of this month. Record FII's flow in the market is the key trigger for the elevated bullish sentiments. The momentum comes despite the crude oil prices are trading on the higher zone in international markets. FII's are pouring more and more money in the stocks and take positions in the futures and options market.

The currency market reflects the FII's flow in the markets Indian rupee is traded at around 68.88 on the Tuesday trading. We expect the index to consolidate in the broader range of 11600 on the upper side while 11200 on the lower front.

Tuesday's market surges almost 129 points or 1.14% at 11483. Nifty 50 indexes in the morning session gap-up opening and remain strong till closing. Any closing above 11600 level can lead nifty index towards 11700-12000 level in the near term.

Stock recommendations :

ASIANPAINT : Buy| Above: Rs 1500| Target: Rs 1540 | Stop loss: Rs 1460|

Asian paints is in the consumption space. Put Writing was seen at ATM and OTM strikes. Base put at ATM 1440 strike is higher than any call strike for the current series indicating expectation limited downside.

LIC HSGFIN : Buy| Above : Rs 535| Target: Rs 548| Stop loss: Rs 522|

LICHSGFIN can gain after the backfire of sellers in the market in this particular stock. The majority of the positions in the stock is on sell side according to F&O data analysis.

JUBLFOOD : Buy| AT: Rs 1460| Target: Rs 1510| Stop loss: Rs 1420|

JUBLFOOD is gaining momentum from short sellers as well. On Charts we expect a breakout of Triangle formation which will lead it towards 1500 + levels days ahead.


Source: Equity Bulls

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Reaction on RBI policy from Mr. Mustafa Nadeem, CEO, Epic Research

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