 "Image: iSTOCK")
NIFTY VIEW
Nifty broke the significant support of 11,400 levels on Monday weakening the bias. Some consolidation, however, was witnessed near 11,300 levels. The support for the day is seen at 37,730/11,270 while resistance is seen at 38,330/11,400. Bank Nifty would have the daily range of 28,950 - 29,600. IT Index along with Pharma, Metals & RIL have shown strength to hold Nifty. Bank Nifty too, after correcting by 1000 points, after a break of 30,250, shows a halt. Signs of pullback from here on cannot be ruled out for a while.
Stock recommendation:
RELIANCE INDUSTRIES
Recommendation: BUY
