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We believe markets will see some time wise correction from current levels in the broader range of 10,300-10,700 levels over the next few weeks, After a week marked by consolidation and announcement of a mega fraud, Vikas Jain, Senior Research Analyst of Reliance Securities Ltd provides the market outlook and three technical stock picks for the next week.
Equity Markets saw a week of consolidation after sharp sell-off during the last week. Recovery of 800 points in Dow Jones during the week after previous week’s fall has stabilised equity markets worldwide. The week was marred by the announcement of a large scale fraud involving more than Rs 11,000 crore in Punjab National Bank, which soured the sentiments for PSU Banks.
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