Hot Stocks | L&T Finance, Exide Industries, Century Textiles three buy calls for the short term
Episode 2682, Jul 08, 2020, 12:30 AM
Nifty rallied for the fifth consecutive session and touched 10,800 levels backed by strong global cues.
This time, Bank Nifty took the lead from the front and rallied sharply to regain momentum above its 100-days exponential moving average on the daily charts.
On the derivative front, put writers were once again seen shifting to higher bands while call writers also seem to be feeling discomfort at the current juncture which suggests that bullish momentum will likely continue in the coming sessions as well.
On the technical front, Bank Nifty is looking much stronger than Nifty and it is likely to test 23,000 levels in the coming sessions.
On the downside, 10,600 and 22,000 should act as strong support for Nifty and Bank Nifty, respectively. Any dip in the prices should be used to create fresh longs.