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The market may see some volatility in the short term ahead of RBI MPC meet next week. For the short term, analysts recommend betting on stocks that look healthy on technical indicators.
Nifty has almost tested the new milestone of 20,000 and gained over 7% in the last four weeks, which has pushed the oscillators into the overbought zone. The sharp dip in IT has derailed its momentum, and we could see a breather in auto and FMCG.
Bank of Baroda formed a Bullish Harami pattern on the daily chart. It found support at the 21-day EMA, indicating potential buying interest.
Firstsource Solutions, incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 9820.60 Crore) operating in IT Enabled Services sector.
On the weekly options front, the maximum Call OI is placed at 20000 and then towards 19800 strikes while the maximum Put OI is placed at 19600 and then towards 19500 strikes.