Expect Markets to consolidate gain during next week - Rakesh Tarway

Weekly Market Outlook by Mr. Rakesh Tarway, Head of Research, Reliance Securities.

We expect markets to consolidate again during the next week. We expect a consolidation in the current week and sustenance above levels of 9150 will be watched for the up-move. We expect sharp profit booking in high beta sectors and midcaps in case NIFTY breaks below levels of 9000.

The option data also continues to suggest an immediate resistance at 9,200 strike as it has the maximum OI of 3.5 million shares. On the downside 9000 strike has the maximum put OI of 3.7 million shares.

Source : Equity Bulls

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