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Published on 16/09/2020 11:03:28 AM | Source: Tradebulls Securities Pvt Ltd

Most of the price based evidence is pointing towards a broad range - Tradebulls

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Nifty

With no major price development off late; expect markets to remain choppy throughout the week. Most of the price based evidence is pointing towards a broad range action within 11250-11750 with 11550 as its breakeven zone. On daily scale, the rebound has been primarily led by banking & pharma sector with broader market continuing to outperform benchmark indices. With SEBI’s new norms for multi cap in focus, it’s better to pick selective midcap & small cap stocks which could provide the necessary alpha in the short term. Incase 11250 is breached only then the downside remains open towards 11000-10900 zone which can be participated via banking names which have been underperforming.

Nifty Chart

 

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