3070: Hot Stocks | Can bet on Aurobindo Pharma, Sun Pharma, Maharashtra Seamless for short term
Indian markets started the week on a positive note with Nifty ending above the key resistance level of 13,100 on December 1, boosted by the better than expected GDP data.
Bank Nifty also surged high and surpassed 29,800 levels led by the PSU bank stocks.
On the technical front, secondary oscillators suggest that markets are likely to remain volatile in the coming sessions with wild swings on both sides.
However, a decisive move in Bank Nifty above 30,000 would add further buying momentum to the index.
As far as Nifty is concerned, now 13,000 would act as key support levels for the coming sessions as call writers at 13,000 strikes were seen unwinding their positions while put writers added hefty open interest at 13,000 put strike.
Any dip in prices should be used to create fresh longs. On the higher side, Nifty could test 13,300 levels with Bank Nifty likely to outperform.
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