Anand Rathi - Daily Technical Note

Nifty and Sensex have exhibited a bearish candlestick.

Technically, one may use the level of 4250 (Nifty) and 14450 (Sensex) as the stop loss level.

Nifty faces resistance at 4340 and Sensex at 14600.

BSE Smallcap and BSE Midcap also exhibited bearish candlesticks.

CNX IT has lost ground.

In the Punter's zone we have a Buy in Federal Bank & Sell in Shri Renuka Sugars and M&M.

In the Technical call section, we have a Buy in Reliance Capital & Sell in ONGC and Reliance Industries.