Mazhar Mohammad of Chartviewindia.in said the near-term trend may remain directionless, as Nifty50 appears to be in a new trading range between 16,350-16,160.
In Thursdays session, the 16,330 and 16,395 levels are likely to act as key resistance points, while supports are likely to come in at 12,200 and 12,170 levels.
Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 19053.42 Crore) operating in Gas & Petroleum sector.
“I expect midcap indices to be more volatile both on the upside as well as downside. Among large caps, some of the new companies will probably take over from some of the older names in the Nifty in the next one year.”