Hot Stocks | Sterlite Technologies, Dr. Lal PathLabs, Mahanagar Gas can give up to 15% return in short-term

Indian market continued its winning streak for the fifth consecutive session on December 29 and ended at record highs, led by gains in financial and IT stocks.

Investor sentiment remained upbeat amid positive global cues like stimulus and the Brexit deal.

On the derivatives front, 14,000 levels would be a key hurdle for Nifty in the upcoming sessions as Call writers are holding maximum open interest at 14,000 call strike.

On the downside, 13,800 would act as major support. On the technical front, secondary oscillators suggest that the market is likely to witness intraday volatility as traders will look to book profits at higher levels as we are approaching year-end and monthly expiry of the December series.

So far Nifty has moved more than 7 percent this month while Bank Nifty has surged nearly 5.75 percent.

We expect that bulls are likely to remain on the front foot in the upcoming sessions as well and any dip in the prices should be used to create fresh longs.