ICICI Direct Remains Constructive On RIL, HUL, Divis Labs

Broking firm, ICICI Direct says in the large cap space it remains constructive on RIL, HUL, Divis Labs, TCS, Kotak Bank while in midcaps we are positive on Persistent, L&T Info, Timken, Zydus Wellness, Sequent and Supreme Industries.

"Structurally, we believe the Nifty has strong support in vicinity of 14400 as it is confluence of: a) 61.8% retracement of post budget rally (13662-15432), at 14338 b) Friday's panic low is placed at 14350) positive gap seen on February 2 (14469-14281)," ICICI Direct has stated in its report. In the coming session, ICICI Direct expects Nifty future to open on a flat note tracking muted global cues.

"We expect the index to trade in a range after Friday's sharp up move. Hence, use intraday dip towards 14680- 14705 to create long position for target of 14793," the brokerage firm has stated.