Good morning, friends!
I assume you've taken enough rest over weekend with enough preparation for amazing week ahead. Let's see what is there in front of us.
Weekly TL Break Out with a weak closing has left everyone confused. But keeping the things simple, we've decent support in 17500-17700 zone and there is all probability that this zone can absorb the selling pressure created on Wednesday. Major resistance zone is still around 18000-18150. So as long as we're closing above 18150 or below 17500, we're going nowhere. Personally I am bullish and expecting the 17500 levels to be saved on Closing Basis. Rest, Mr. Market is supreme. We'd open in mild red. For Intraday, Buy above 17800 or Sell below 17700.
Here Weekly Break Out has already happened. I have mentioned several times about 38900-39400 zone several times previously. It did manage to cross it but couldn't above it, infact closed within this range. So I expect a bounce here if this range holds. Intraday Buy above 39100 or Sell below 38700.
Sectors to focus: IT & FMCG on Buy side and Pharma on Sell Side.
Stocks to watch out for:
#MEDICAMEQ @856
#REPCOHOME @247
#ASTRAMICRO @308.
Wishing you a profitable day ahead!