Hot Stocks: Here’s why OFSS & InterGlobe Aviation are top buy calls for Thursday

A V-shaped reversal rally has almost completed 88.60 percent retracement of the entire downswing seen from January 2020 top to March 2020 bottom.

Indian bourses on 2nd Sept started the day on a positive note and traded largely into Tuesday’s trading range and closed above 11500 levels. The market breadth mainly remained in favor of bulls.

For every two losers, there were more than four gainers.

A Bearish engulfing pattern followed by a Bearish Belt Hold line on a daily time frame can call for some further consolidation with bearish tilt.

The short-term trend of the benchmark index would be considered bearish unless the highs of the said patterns get taken off.

We may expect some sectoral leadership changes in the coming months. IT and Pharma index may continue to trade in a narrow range while auto & banks may continue to lead.

A massive fall of 3.14 percent on 31st Aug can be considered as a throwback of a consolidation pattern breakout on Bank Nifty on a daily time frame.