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