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Tomorrow market will remain
closed on April 21 for Ram Navami. Investors should remain calm and stay with
their investments, and add more on dips. Unless the index swiftly registers a
close above 14300 in the next session, there is a distinct possibility of it
slipping towards 13950. If bulls manage a close above 14300, then sideways move
with slightly positive bias can be expected.
The market to trade in a consolidated range, where 14200-14000 will act as a strong base, and, on the upside, 14800-15000 will act as stiff resistance, but there will be stock-specific opportunities in ‘Corona-proof sectors’. will keep investors on the edge for some time but as the situation stabilizes, bulls will be back .Now For many industries like travel, tourism, restaurants, and hotels, the impact will be significant but IT, pharma, metals, telecom, and consumer staples will be less affected. Discretionary consumption will be the most-affected sector and will see challenges. We believe that a correction of up to 10 percent from the nifty peak of 15,200 would be a good support level .One needs to be selective on sectors like auto, large private sector banks, large NBFCs, electrical appliances companies, chemical, and pharma.
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