Index View: Nifty

Nifty has been facing resistance in the 24700-24750 zone, coinciding with a downward trendline resistance. A major trend reversal is expected above 24800 on a closing basis, with 24200 as a potential downside. The 200 DMA at around 24000 level is a key trend support to watch.

Bank Nifty

Following a sell on rise template, Bank Nifty's intraday rallies are being sold into strength. A significant upside trend could begin above 55800 on a closing basis, with strong support in the 54000-54300 zone.

FORCE MOTORS (BUY)

LCP: 20047 Stop Loss: 19200 Target: 21500

Despite broader market weakness, Force Motors is trading near all-time highs, showing strong momentum post-quarterly results. A 10-15% upside is anticipated in the current leg.

Maruti Suzuki (BUY)

LCP: 12834 Stop Loss: 12350 Target: 14000

Auto stocks, including Maruti Suzuki, are resilient against market downturns. Trading at all-time highs, a close above 13000 could spur an 8-10% gain.

MCX (BUY)

LCP: 8339 Stop Loss: 7950 Target: 9000

MCX appears to have completed its consolidation phase, with a breakout suggesting a continuation of its upward trend. An 8-10% move to reclaim all-time highs is possible.