In the short term, the demand-supply equation is determined by foreign investors (FIIs), retail investors, and fresh issuances of companies. Because of the correction in the market, issuances went down.
The psychological mark of 22,000 holds intermediate support, followed by strong support of the 21,800-21,700 subzone. On the higher end, the 20-DEMA placed at 22,300,
MarketSmith suggests considering ITD Cementation, Neuland Laboratories, Arvind Smartspaces, Sharda Motor Industries, and Choice International as potential buys based on various financial and technical indicators.
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