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Last Updated : May 02, 2019 12:36 PM IST | Source: Moneycontrol.com

Buy or Sell | Trade cautiously; buy Colgate, Aurobindo Pharma

For the Nifty 11,550 will act as an important support level whereas 11,850 is a strong supply zone.

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There is a need to be cautious as it is a big eventful month, an election outcome month. We are betting on low-beta sectors like FMCG and Pharma.

For the Nifty 11,550 will act as an important support level whereas 11,850 is a strong supply zone. Above 11,850 Nifty may move to 12,000-12200 and below 11500 it may slip to 11,000.

We are neutral in Bank Nifty at this juncture. Important support is at 29,400-29,500 will act as important support while 30,200-30,300 is the resistance level. Above 30,300 Bank Nifty may see short covering rally, says Rajesh Satpute, Associate Director- Research, LFS Broking.

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First Published on May 2, 2019 12:36 pm
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