Nifty Pharma
Nifty Pharma has been leading the bull run in the last 4 weeks. We expect out-performance to continue for some more time.
Nifty Pharma Index CMP 11333
Support 10800
Target 12000/12100
Nifty Auto
Auto space has witnessed a good comeback in the last 3 months. In fact, most of the auto stocks are trading above pre-COVID levels now.
We expect things to normalize soon as the rise in stock prices are backed by good auto sales numbers. Therefore we expectAuto index to outperform Nifty in the coming 1 year.
Auto Index CMP 7554
Target 7800/8500
Support 7300/6700
Nifty Metal
Nifty Metal has given breakout this week. Therefore we can expect good movement for the next 2 weeks. Nifty Metal has not performed well in the past 3 months, therefore, there is sufficient headroom for the rise in the index now.
Nifty Metal CMP @ 2314
Target 2650/2750
Support 2150
Nifty Bank
Nifty Bank remains weakest of all sectors & stocks have been underperforming its peers by huge numbers. We don’t expect any quick recovery in this sector, therefore, one needs to remain underweight in this sector.
Nifty Bank CMP 21750
Target 23210/23500
Support 21000
Nifty Midcap 100
Nifty Midcap 100 index has given a good breakout. Therefore we can witness a good upside in midcap stocks.
Nifty Midcap 100 CMP @ 16103
Target 16900/18500
Support15000
