Keep stock-specific trading approach; Escorts, IndusInd Bank could give 8-11% return

Traders should book profit on any bounce towards 10,800 and maintain few shorts also. In the case of decline, 10,350-10,500 zone would act as support

The markets managed to end higher for the third successive week amid volatility. The beginning was downbeat, tracking weak global cues and local headwinds.

However, things gradually turned in favour of bulls, as a result, the benchmark index closed around the week’s high and reclaimed 10,700 at the close.

Though markets have made a decent recovery in the recent past, we’re still not out of woods. The Nifty has strong hurdle placed at 10,800 and sustainability above that zone seems difficult.

Traders should book profit on any bounce towards 10,800 and maintain few shorts also. In the case of decline, 10,350-10,500 zone would act as support.

We advise keeping stock-specific trading approach and prefer index majors over mid-cap and small-cap counters for trading.

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