Nifty rose 133 points or 1.1% and ended the session at 12126 - ICICI Direct

Nifty rose 133 points or 1.1% and ended the session at 12126 - ICICI Direct

Investment Guru India

Technical Outlook

Equity benchmarks snapped their past four session's fall as the Nifty rose 133 points or 1.1% and ended the session at 12126. In the coming session, we expect volatility to remain high owing to weekly derivative expiry. However, we do not expect Nifty futures to breach last session's low (12048). Hence, a dip towards 12100-12120 should be used as an incremental buying opportunity for a target of 12165. The across sector participation supported by improved market breadth makes us believe the index would resolve higher and challenge the upper band of consolidation at 12300 in coming weeks.

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