Nifty view for the week
Immediate term strength would remain intact till 5200 is not broken. Weakness till 5050 is possible only if 5200 is not respected. 5360 is a stiff resistance for Nifty this week.
Sector in Focus: BSE Consumer Durables Index
A sideways movement in BSE Sensex is likely to continue and the 200 – DMA near 17,270 is likely to act as strong support for BSE Sensex. The zone of 17,600 – 17,800 is expected to provide resistance in the current week.
In the current sideways movement of BSE Sensex, BSE Consumer Durable Index has outperformed the major indices in last week and is now at the verge of upward breakout considering weekly and monthly charts. The rally in this sector could extend if upward breakout is seen above 7000 levels. Hence buying positions can be created in cash & futures segment of this sector stocks like Rajesh Exports, Titan and TTK Prestige on mid-term basis.