Hot Stocks | Bhageria Industries, Garden Reach Shipbuilders, Tata Steel Long can give up to 12% return in short term
Episode 2786, Aug 12, 2020, 12:30 AM
Bullish momentum remained intact in the Indian market as Nifty surpassed 11,300 levels while Bank Nifty also managed to close above 22,200, supported by a sharp surge in HDFC twins, along with gains in Axis Bank.
The rally was also supported by metal counters, with Tata Steel, JSW Steel and Hindalco as top performers.
On the derivative front, call writers were observed covering their position at 11,200 strikes while put writers were seen shifting to higher bands which indicates that bias is likely to remain in favour of bulls in the upcoming sessions as well.
On the technical front, Bank Nifty is looking much more positive on charts.
The immediate hurdle for Bank Nifty is placed at 22,350, above which, a follow-up buying can be seen till 22,700 in the coming sessions.