Hot Stocks | Buy call on Colgate, Dabur India and Fine Organic for short term
Episode 2702, Jul 15, 2020, 12:30 AM
After gaining for four consecutive weeks, Indian markets took a breather and fell sharply on Tuesday due to profit-booking.
Nifty slipped below 10,700, tracking weakness in Asian peers. The market witnessed a sustained selling among large-cap financial names.
On the technical front, however, Nifty managed to hold above its 200-days exponential moving average which is placed at 10,540 on the daily interval. It should act as a major support for the upcoming sessions.
In the coming sessions, the selling pressure may persist if Nifty slips below 10,500 levels.
On the derivative front, call writers were seen adding hefty open interest at 10,700 and 10,800 call strikes which should limit any sharp upside in the market.