Hot Stocks | CESC, HUL, Nestle can give up to 16% return in short term
Episode 2365, Apr 01, 2020, 01:30 AM
After witnessing a steep cut in the previous session, the Indian market bounced back sharply on March 31, tracking firm global markets.
The Nifty reclaimed 8,575 this week after some lower-level buying was witnessed in heavyweights like Reliance Industries, HDFC twins and Infosys.
However, on the technical front, the Nifty and the Nifty Bank indices are still trading in a bearish channel and on the higher side, 8,800-9,000 zone for the Nifty while 19,500-20,000 zone for the Bank Nifty should act as a strong hurdle.
On the derivatives front, put writers were seen adding open interest at 8,400 and 8,500 strikes, which should provide some support to the market.
Till then, we can expect some stock-specific action along with some volatility in a broader range of 8,400-9,000 in the coming few sessions.