The holiday-truncated expiry week saw the Nifty survive the sub-10,000 scare to close the week above 10,000 at 10,113. The Nifty has now for the first time given a positive weekly close following eight consecutive negative weekly closes since the highs of February 2018 — indicating arrest of downward momentum.Going forward, expect volatility to continue as we head into the earnings season and as global markets reacts to various macro news flows, like trade wars, QE rollback etc. Levelswise, expect the Nifty to head towards 10,320-10,410 levels on close above 10,200-10,220 levels. Stock specific, frontline counters, like SBI and TCS , are showing signs of intermediate bottoming out and expect to head towards 272 and 3,210 levels, respectively, in short to medium term. Further, stocks like Bajaj Fin , Bata , HDFC Standard Life have given a good breakout from the consolidation zone and expect to head towards 1,920, 840, 520 levels in short to medium terms.

Source: Economic Times April 02, 2018 03:33 UTC