Hot Stocks | ICICI Bank, Aditya Birla Fashion, Ashok Leyland can give double digit return in short term

Indian markets continued their bull run and gained for the fourth consecutive session on June 23.

Nifty reclaimed 10,450 and Bank Nifty moved above 22,250, on the back of strong rally seen in some of the heavyweights like Bajaj twins, ICICI Bank, Axis Bank and Reliance Industries.

On the derivatives front, put writers added hefty open interest at 10,300 and 10,400 strike while 10,500 call strike holds maximum open interest concentration.

On the technical front, now Nifty would face a strong hurdle at 10,500-10,550 zone as the 200-days exponential moving average is placed on daily charts.

However, the bias is likely to remain bullish and any dip should be used to create fresh longs. Additionally, as we are approaching the expiry of the June series the volatility would likely to grip the markets in the coming sessions.