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Published on 25/10/2020 9:32:33 AM | Source: Religare Broking Ltd

Markets managed to end in the green amid consolidation bias in the passing week - Religare Broking

Posted in Market Outlook| #Market Outlook #Religare Broking Ltd

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Nifty Outlook

* Markets managed to end in the green amid consolidation bias in the passing week. The benchmark traded volatile throughout the week however buying interest in index majors especially banking, auto and metal kept the tone positive. Finally, the Nifty index settled at 11930.35.

* Apart from the earnings announcements, global cues viz. update on US stimulus package, upcoming US election and COVID related update from Europe will remain in focus. Besides, we expect volatility to remain high due to scheduled expiry of October month derivatives contracts.

* Nifty has been hovering within 11,650-12,050 and either side break would trigger the next directional move. We advise maintaining focus on the selection of stocks and risk management.

 

 

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