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Higher lows over three months and support buyingseen near 1200 zones making room for upside.

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Nifty looks set to end December on a negative note after 2.5% loss seen last week where the cuts were even sharper in the broader market. The weekly price action formed a bear candle carrying a lower high-low, indicating the extension of corrective bias.

As we look ahead, the profitability of PSUs is shooting up across domestic as well as global cyclical with a turnaround in the fortunes of PSU Banks driving the overall trend. Higher commodity prices over the past two years have aided the P&L and balance sheets of Metals/O&G PSUs.

Cipla key Products/Revenue Segments include Pharmaceuticals, Royalty Income, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2022.

For more than a decade, the stock has been taking support at a rising moving average followed by a breach of the intermediate falling trendline. In recent context, the stock is rising with the same characteristic,” he said.

Price taking support at 200 day EMA and 80% retracement of previous up move has remained resilient during last week decline.

LIC Housing Finance, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 22514.08 Crore) operating in NBFC sector.

HDFC Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.

“The market selloff on Friday was the consequence of the cumulative impact of Covid fears, valuation concerns and margin calls in many momentum stocks. It is important to note that the 320 point cut in Nifty was caused on a day when DIIs bought heavily for Rs 3398 crores and FIIs sold only for Rs 706 crore,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.