By Swapneel Mantri(Technical analyst Institutions, Sushil Finance)Where we are: The week gone by saw Nifty largely trading rangebound and lacklustre as US tariff wars and OPEC meeting had the global markets on tenterhooks.What is in store: Expect range-bound trade to continue as we head into the expiry week.
On levels, we expect Nifty to trade broadly between 10,920 and 10,690.
Further, stock specific bottoming out among the quality midcaps/smallcaps can be seen in coming sessions.What could investors do: Investors can make the use of volatility to accumulate the quality scrips at lower levels and consolidate the portfolio holdings from long term point of view.
Stock specific among the frontline counters Bharti Airtel, ICICI Bank, ITC looking good on charts and expect to head towards levels of 412, 321, 275, respectively in near term.
Among the beaten-down counters, Glenmark, LUPIN, Sun Pharma showing bottoming out signs and can be accumulated at current levels for higher targets of 720, 990, 652 in short- to medium term.
Among the non-banking financial companies, LIC Housing, DHFL, Power Finance Corporation, Mahindra Mahindra Finance exhibiting good uptrend and expect to head towards 540, 690, 95, 543 levels in coming sessions.