The Nifty has strong support at 10,550-10,600, below which the trend is expected to turn negative.
The markets are poised for breakout above 10900. Once the breakout emerges above the 100 DMA of 10,920, we believe that the momentum may propel the market towards 11,200, said Vikas Jain, Reliance Securities.
Autos and metals have seen a fair amount of correction in first week on back of poor numbers. But this gives investors an opportunity to enter the autos and metal space. Even pharma sticks looks attractive at their current levels.
The Nifty has strong support at 10,550-10,600, below which the trend is expected to turn negative. Bank Nifty continue to outperform, we believe that more steam is left for 27,800-27,900, Jain said.The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .