Hot Stocks | India Cements, CESC, Jyothy Laboratories can give up to 15% return in short term
Episode 2882, Sep 16, 2020, 12:30 AM
Indian markets began this week on a positive note and bulls keep control over the markets taking cues from firm global sentiments.
IT and pharma counters outperformed the markets while banking stocks still felling pressure.
As far as Nifty is concerned, now 11,400 to 11,350 zone would act as a major support for the index moving forward while on the higher side 11,650-11,700 zone will act as an immediate hurdle.
Derivative data suggests the bias is likely to remain bullish in the upcoming sessions, as put writers were seen shifting to higher bands and observed adding hefty open interest at 11,400 strikes.
On the technical front, however, Bank Nifty is still likely to remain under pressure as 22,800 levels would be a strong hurdle and may cap any sharp upside in the prices.
Overall, we expect markets to remain volatile in the coming week and traders should keep stock-specific action on the radar.