Hot Stocks | Three stocks that can give up to 10% return in next 3-4 weeks
Episode 2116, Jan 15, 2020, 02:00 AM
On the technical front, both Nifty and Bank Nifty are trading in a rising channel. However, Bank Nifty is facing a strong hurdle in the zone of 32,200-32,350.
Nifty hit a fresh record highs in Tuesday’s session and ended well above 12,350 as easing geopolitical tensions between the US and Iran along with the expectation of a US-China trade deal lifted sentiments.
On the derivative front, put writers were seen adding hefty open interest at 12,300 strike for January 16 series expiry while marginal call writing was observed at 12,500 strike.
On the technical front, both Nifty and Bank Nifty are trading in a rising channel. However, Bank Nifty is facing a strong hurdle in the zone of 32,200-32,350.
We believe that a decisive move beyond 32,350 in Bank Nifty can add further momentum to the prices which could take the banking index towards its record level as well. So, any dip in the prices towards support levels should be used to create fresh longs.