Hot Stocks | Page Industries, Bata India two buy calls for the short term

Nifty continues to trade in a narrow range of 200 points while mid-caps and small-caps have witnessed a sharp positive momentum post the news flow of re-classification of multi-cap funds.

Nifty Midcap100 is up by 4 percent and Smallcap by 6.5 percent for the week to date.

Among sectors, Nifty IT and Pharma are the outperformers, gaining 6.3 percent and 3.8 percent, respectively, while Bank and FMCG remain flat to negative.

Nifty is near the previous expiry close and crossover of 11,620 levels on the higher side would turn the monthly candle positive for the next up-move.

Any negative news flow from the global front or geopolitical concerns could accelerate the sell-off.

The second wave of the COVID-19 crisis continues to be a concern for India and the world.

With the derivatives expiry next week, we expect the market to trade volatile with rollover movement in individual sectors and stocks.

On the higher side, 11,600 CE strike has the highest OI of 29.2 lakh shares while 11,500 PE strike has an OI of 34.8 lakh shares.