• Month on month basis Index has improved by 0.25% and week on week basis index decline by 0.6%.
• For the past 2 months, the Index is oscillating in the range of 15500 to 16000 range.
• The view for the index remains sideways to positive as far as it sustains above 15500 levels.
• On the higher side index has immediate resistance at the 16200 levels.
• Nifty is mildly away from an all-time high level but mid-cap and small-cap have claimed all-time high.
• From a sector perspective, Pharma and realty stocks moving from the support level.
• So stocks in the mentioned sector can be seen with a positive outlook.
• The auto sector is in negative movement but technical bounce cannot be rule out. Auto stocks at resistance will offer sell opportunities.
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