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Published on 17/10/2020 9:16:47 AM | Source: Religare Broking Ltd

We reiterate our cautious view on market and suggest maintaining positions on both sides - Religare Broking

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

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NIFTY OUTLOOK

* Markets witnessed profit taking last week and lost over a percent, taking a breather after two weeks of successive rise. The benchmark hovered in a range in the initial sessions but a sharp slide in middle derailed the momentum. Finally, the Nifty index settled at 11762.45.On the sectoral front, mostly indices traded in line with the benchmark and ended lower.

* Going ahead, we feel market could remain choppy amid mixed global cues and ongoing corporate earnings. Besides, the COVID related updates will also be in focus.

* We reiterate our cautious view on market and suggest maintaining positions on both sides. On the index front, Nifty has critical support at 11,600 while 11,850-12,100 zone would act as a hurdle.

 

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