Sensex Technical View :
The last few days have been consistently mentioning that one should avoid leverage positions ( futures,margin trading ). With the dip of 600-700 points from the top this strategy would have insulated traders. Had discussed about Sensex could take a pause around 18k a few days back.
Technically Sensex should see a bounce from either 17300/17000 support levels.The intermediate trend remains positive till 16900 holds. Short term volatility would remain. Buying on dips in the above range could give good returns on the index. Bounce backs would face resistance at 17800.
Stocks to watchout for :
Buy Alembic Ltd around 46-49 with a medium term view tgt 60.
Continue to hold on Apollo Hospitals with long term tgt 850 ++
Market buzz suggests SREI infra to be bought in dips to 76/70 with 3 months view the stock could do 90.
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