Hot Stocks: Rallis India, Berger Paints, Godrej Agrovet could give about 10% return in 3-4 weeks
Episode 2620, Jun 17, 2020, 12:30 AM
It’s been a highly volatile week for Indian markets so far, as tug of war between the bulls and bears on the back of mixed global cues kept the Nifty in a broader range of 10000-9700.
From the derivative front, call writers were seen adding hefty open interest at 10000 call strike which should act as a strong hurdle for the Nifty.
However, on the downside, marginal put writing was observed at 9800 & 9700 strikes which would act as immediate support.
From the technical front as well, the secondary oscillators suggests that volatility will likely to grip the markets in the coming sessions as well with stock specific action on to the radar.
As far as NiftyBank is concerned, we believe that 19600-20600 would be the consolidation range for the index and any side break will give further direction for the markets.