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.