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State Bank Of India, Sun Pharma May Attract Buyers Today

Bull market or bear market today?

Markets are in range bound between 11400 and 11700 range but looking at the last two days it looks like the Nifty is making an attempt to cross the range. To summarise we feel if the index moves out of this band than we can see the upside to 12000

Sectors likely to impact markets today?

Sectors in focus will be select pharma and banking stocks. As we see the G Sec yield falling, coroporate banks will benefit more. Also in such choppy markets investors would like to stay defensive and we have seen pharma stocks trading at lower valuations.

Stocks likely to be in limelight today?

Stocks which we like is SBI which is near its 52-week high and has given fresh break out. Secondly, we have seen Sun Pharma smartly rallying from its recent low, so good long built up in f&o suggest we can see some more upside.

The implied volatility is at low which suggest that there is limited downside so mid term we feel all eyes are on quarterly results and how the monsoon progress. The immediate range for Nifty is 11370 on a downside and upside looks like at 12100 in medium term. – DNA India

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