Hot Stocks | Kansai Nerolac, Asian Paints, Havells can give 12-17% return in short term
Episode 3460, Jul 22, 2021, 12:30 AM
After hitting a record high last week, the Indian market witnessed selling pressure at higher levels and Nifty slipped below the crucial support of 15,700 tracking weak global cues.
Metal and realty counters were worst hit while cement and paint stocks were on top of the leaderboard.
On the derivatives front, Call writers remained active at 15,700 and 15,800 strikes while Put writers shifted to lower bands.
On the technical front, Nifty has been struggling in a broader range of 15,450-15,950 for a long time and now once again 15,500 to 15,450 zone would act as a strong support area in the coming sessions.
Secondary oscillators suggest that the market is likely to witness negative bias in the coming sessions as long as Nifty is trading below 15,800.
We can expect stock-specific action in the coming week rather than any directional move in the market.