Pragmatic Investments

FOR THE COMING WEEK:

Indices are likely to face resistance at the 15050‐15200‐15500/4480‐4550 levels.

Any declines in the indices may see fresh buying creeping around the indicated supports.

Downside supports are placed at the 14500‐14200/4300‐4200‐4050 levels.

Depending on the global cues we expect to see fresh buying around the weekly supports and the trades could be influenced by strong moves sectorally.

Any move until the above mentioned resistances shall be utilized to exit from long positions and look out for a sustainable move.

However, looking at the broader scenario we advise investors to play the broad range movement with caution and strict stop losses.

STOCKS FOR THE WEEK: ICICI Bank, Axis Bank, SBIN, Infosys, LT and ACC. These stocks may be observed for long side participation from current levels as well as lower supports. Short positions may be taken in ONGC, Tata Steel, Nalco and M&M from higher levels of the Nifty.