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Market
Outlook:
Markets ended on a flat note after a volatile
session. Buying was seen in FMCG & Oil & Gas while selling
was seen in Realty & auto stocks.
Nifty:
Nifty ended on a flat note after a volatile
session. The daily chart of nifty indicates Doji formation which
indicates indecision in the market. Immediate resistance is seen at
5460/5480 levels. However a close above this will further extend the
rally up to 5520/5550 levels in the near term. Support is seen at
5400/5380 levels.
Support:
Major support level 5,400/5,380.
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Investment
Ideas
- TORRENT
Pharma CMP @ Rs.703 (Target Price:
Rs.800)
Trading
Ideas
- Positive
bias Aurobindo Pharma (Target 160), Unichem Lab (Target 220),
Onmobile (Target 48) and Strides Acrolab (Target 1020). On the
option front we recommend to buy 5500CE. Traders maintain stop
loss accordingly.
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