Here are three intraday picks from the brokerage:
Buy Marico (Previous close: Rs 411) For today’s trade, a long position can be initiated in the range of Rs 411-407 for a target of Rs 427 with a strict stop loss at Rs 399.
Buy Tata Chemicals (Previous close: Rs 792) A long position can be initiated in the range of Rs 780-770 for a target of Rs 815 with a strict stop loss at Rs 747.
Sell ICICI Prudential Life (Previous close: Rs 522)A short position can be initiated in the range of Rs 523-528 for a target of Rs 505 with a strict stop loss at Rs 538.
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 128 points, or 0.87 per cent, lower at 14,513.50 in signs that Dalal Street was headed for a negative start on Monday.
07:30 AM
Tech View: Nifty lacks follow-up buying
Nifty50 on Friday formed an indecisive Doji candle on the daily chart. On the weekly scale, the index formed a Hammer candle. Analysts said the 14,700 level may pose strong resistance for Nifty50 in the coming days. A fall below 14,250 level on the index can trigger a strong correction, they said.
07:29 AM
ACC, ICICI Pru to report Q4 results
ACC, ICICI Prudential Life Insurance Company, Crisil and Bajaj Consumer Care would be among companies which would announce their quarterly results on Monday.