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On the technical front, the key resistance level for Nifty50 is 18,100 and on the downside, 17,900 can act as strong support, he said, adding that key resistance and support levels for Bank Nifty are 41,900 and 40,800 respectively.

The stock quoted a 52-week high price of Rs 7377.6 and a 52-week low of Rs 4276.85.

The Bengaluru residential real estate market is now on the cusp of a strong demand cycle, on the back of: a) strong hiring in the IT sector and rising count of global captives, b) salary increments for IT employees, and c) best-in-class affordability.

The latest red-hot inflation numbers have put global investors on edge about the potential actions by the US Fed in its meeting next week. The FOMC is likely to push interest rates by 75 basis points, while a 100-bps hike can not be ruled out.

“A lot of consumer spending is going to happen over the next three-four months which is Dussehra, Diwali, Christmas and the entire festive marriage season. I would probably go and bet on Trent. I think this is one stock where there is a lot of opportunity for appreciation. The second company which I will bet on is the tried and tested Titan.”

The Rs 807.85-crore initial public offering (IPO) of Tamilnad Mercantile Bank, which was sold in the range of Rs 500-525 apiece, received a dull response from investors as it was subscribed 2.86 times.

Investors who are looking to top up their existing funds or build their portfolio can consider investing in consumption, IT, auto, banking, and financial stocks which could form a major chunk of their portfolio.

The Relative Strength Index of the stock stood at 78.89 on Thursday.

In the domestic equity market, the 30-share BSE Sensex was trading 275.51 points or 0.46 per cent up at 60,622.48. Similarly, the broader NSE Nifty rose 36.15 points or 0.2 per cent to 18,039.90.

Amid rising volatility, analysts believe that technicals suggest some solid action in select counters in the near term.