Hot Stocks: Here’s why Pidilite Industries & KEC Int may return over 20% in next 6 months
Episode 1856, Nov 04, 2019, 02:04 AM
The index during the entire up-move of the last two months is seen sustaining above the rising trendline joining last two months lows signalling buying demand at its elevated support base
The equity benchmark witnessed a strong up-move during the current week as Nifty resolved its three-month resistance at 11,700 on expected lines.
The ongoing rejuvenated market sentiment, supported by buying across sectors signifies broader market participation that exhibits inherent market strength.
This makes us confident that the index would accelerate with an upward momentum and head towards our earmarked target of 12,100 this month.
The index, during the entire up-move of the last two months, is seen sustaining above its rising trendline joining the last two months lows signalling buying demand at its elevated support base.
Any temporary cool-off towards the recent breakout area of 11,700 owing to elevated volatility based on derivative expiry should be capitalised on to accumulate quality stocks amid Q2 FY20 earning season, paving the way toward 12,100.