Weekly Market Outlook - Technical - April 22, 2022 - ICICI Direct

- Benchmark Indices settled 1.7% lower amid higher volatility lead by weak global cues and lacklustre earning sessions. Nifty settled the week at 17172

- Nifty is expected to prolong consolidation in the 16800-17500 range, as indicated by lack of faster retracement on either side

- Meanwhile stock specific action would continue as we progress through earning session

- Sectorally, Telecom, PSU, Auto to relatively outperform while BFSI and IT to remain stock specific

Our preferred large cap stocks are Reliance Industries, Axis Bank, Adani Port, NTPC, Coal India, Titan, Tata Motors while in midcap space we like Transport Corporation of India, Coforge, Minda Corp, Gati, Trent, Gujarat Alkalies, Jamna Auto, Phillips Carbon Black, Laurus Labs, Action Construction Equipment, Mazagon Dock Shipbuilders, Redington

Source : Equity Bulls

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