“Avoid taking overnight positions in futures” – Nirmal Bang

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The Nifty is likely to remain range-bound between 4,750 and 5,050 levels in the coming fortnight. If the level of 4,750 is breached, one should avoid buying. My advice to traders is to be cautious and avoid taking overnight positions in futures. The market seems to be in a nervous mode with the Union Budget round the corner, continuous FII selling pressure since the past few days, disinvestment on the government’s agenda and liquidity tightening initiatives by various countries.

Sectors looking good over the next fortnight are banking and tyre. Among stocks, Axis Bank Ltd (LTP: Rs 1,025), IndusInd Bank Ltd (LTP: Rs 148), UCO Bank (LTP: Rs 60) and Oriental Bank of Commerce (LTP: Rs 267) in the banking space look attractive, while Apollo Tyres Ltd (LTP: Rs 53) as well as JK Tyre & Industries Ltd (LTP: Rs 171) in the tyre space can be
bought at declines.

Thanks to Nirmal Bang . For Full Report, Please Click Here.

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