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Forecast

NIFTY

Nifty as on now taking support near the 22100 zone has picked up gradually with some volatility witnessed and ended the session near 22200 zone with bias once again improving and anticipating for further rise in this week. As mentioned earlier, with the overall bias maintained strong, the index is expected to carry on with positive move for next targets of 22400 and 22800 levels anticipated in the coming days. The support for the day is seen at 22100 level while the resistance would be seen at 22400.

BANKNIFTY

BankNifty took support near 46350 zone during the intraday session and ended on a flat note near 46600 level with near-term support maintained near the 50EMA level of 46200 zone and would need to breach above the 47300 band to trigger for fresh upward move. BankNifty would have the daily range of 46300-47000 levels.

Stock Ideas with Trend Reversal

Positive : - CESC, CUB, ICICIGI, INDUSINDBANK, KEC, LUPIN LTD, NAUKARI, TATA MOTORS, TCS, TORNTPOWER, VOLTAS, ZEE TELE

Negative :- AXIS BANK, BERGER PAINT, DIXON, GNFC, GUJGAS, ICICIPRULI, M&MFIN, PETRONET, PIIND, POLYCAB, RAYMOND, TATA ELXSI

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