NBFC stocks in focus - Buy on dips - Bajaj Finance, L&TFH

Bull market or bear market?
Index negated the formation of lower highs after six trading sessions. Now a hold above 10350 zones to extends its bounce towards 10500-10550 zones while support at 10300 then 10200 marks

Stocks likely to be in limelight today?
NBFC stocks (Buy on dips - Bajaj Finance, L&TFH), momentum could be seen in Aurobindo Pharma, RBL Bank, Axis Bank, Maruti Suzuki, short covering in the PSU.

Sectors likely to impact market today?
Banks, NBFC, FMCG

Your mid-term view?
Recently it has taken support at its rising trend line by connecting its major swing lows of 6,825, 7,893 and 10200 zones on the weekly chart. Now till it holds above 10200 zones it can bounce towards 10650 while 10850 could continue to act as a barrier to pause it bounce back move

Watch this Zee Business video

What drove markets on Wednesday?
Banking, NBFC, FMCG (almost buying interest and short covering was seen in most of the sector except IT stocks).

By: Chandan Taparia
(The author is derivatives and technical analyst, Motilal Oswal) 

Source: DNA Money