Hot Stocks | Sun Pharma, HDFC Life two buy calls for short-term

Nifty ended last week tad above 9,200, shedding over 6 percent as compared to the previous weekly close.

Although it appears to be a sharp cut when compared to the previous week's close, the overall trading action during the week was muted.

In fact, in the last couple of trading sessions, price action was extremely lethargic and the market completely looked directionless.

Neither bulls had the strength to overcome the sturdy wall of 9,400-9,450 nor bears were dominant enough to violate the 9,100-mark.

Hence, this week, 9,450 to 9,100 remains to be an immediate range. Only a sustainable breakout on either side would confirm the next path of action.

Traders holding existing longs should maintain their positions as long as 9,100 is successfully defended.

At present, traders are advised to stay light and should ideally continue focusing on individual stocks.

Although we are completely not out of the woods when it comes to coronavirus pandemic, we remain hopeful till the time above-mentioned key support is not violated.