Gift Nifty cautiously trades above dotted lines, hinting at potential wavering. Wall Street fell due to US PPI inflation, but Nifty sellers remain hesitant. Technicals show weakness confirmation below 21721, with hurdles at 22127. Bank Nifty strengthens on improving asset quality, facing resistance at 47100. Options data suggests a trading range of 21500-22500 for Nifty. Volatility index at 15.22, Put-Call Open Interest Ratio at 1.23. Await cues from FOMC and RBI minutes. Preferred trade: Buy Nifty (22041) with stop at 21701, targets 22127/22301. Buy Bank Nifty (46385) with stop at 45483, targets 46600/47100. Bullish on IPCA LABS, ADANI PORTS, and TORRENT PHARMA. Top stock to buy: ADANI ENTERPRISES (CMP 3224) with stop at 3097, targets 3301/3501, aggressive at 3677.
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