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Watch Nifty
Ø Nifty continues to move sideways. A direction should emerge sooner than later. Support is good at 5850 and immediate resistance is around 6060-70. A break out of this range has to be watched.
Ø Nifty's resistance for 21/12 is likely around 6000 & 6020.
Ø It may be recalled that Hero Honda was recommended on 16/12 around 1600. It had made a phenomenal move up to give good returns in 3-4 days. Long term investors are advised to hold and short term investors can book 20-25%. Infosys, TCS also have yielded good returns.
Ø Tata Steel is another scrip to be watched. It has resistance around 685 and if crossed on a closing basis, can move up by another 50 points.
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