Hot Stocks | Sun Pharma, PFC, ICICI Pru Life can give up to 22% return in short term

Nifty filled its gap level near 9,550-9,600 and witnessed a strong pullback to close at an 8-day high with positive momentum across sectors and stocks.

The geopolitical concerns could continue to keep markets jittery but the technical set up and bounce look good for a higher move to cross the recent high of 10,325 levels.

We remain positive till 9,725 level of Nifty is not breached on the downside as it coincides with the current week lows and the 20-day average.

Bank Nifty and NBFC’s should witness a strong move from the current levels as it remained under pressure with respect to AGR ruling and interest moratorium ruling which is now postponed to the next hearing dates.

Nifty is up 6.3 percent, while mid-cap and small-cap indices are up 9.8 percent and 13.2 percent from the last derivatives expiry till date.

Among individual sectors PSU Banks, Realty and Media gained 23.8 percent, 15.8 percent and 15.5 percent, respectively, while Pharma, IT and FMCG are underperformers, gaining 5.4 percent, 3.6 percent and 0.8 percent, respectively, from the last expiry to date.