Nifty view & stock recommendations by Prabhudas Lilladher: Buy SBI, HUL

The bias remains corrective and cautious. However, it is also time to cherry-pick good stocks like SBI, Maruti, Tata Steel, FMCG, etc to accumulate.

Nifty View

Nifty still has its monthly trend intact while Bank Nifty has its monthly trend down too. Post budget, among Nifty 50 stocks weightage is tilted on negative with only 10 stocks in positive having 16 per cent weightage implying a very weak bias. Support for the week is seen at 39,050/11,440 while resistance is seen at 40,460/11,900. Bank Nifty would have a range of 29,150-30,550. The bias remains corrective and cautious. It is, however, also time to cherry-pick good stocks like SBI, Maruti, Tata Steel, FMCG, etc to accumulate.

BUY SBI | CMP: Rs 302.60 | TARGET: Rs