Nifty to move between 9,230 and 9,300 next week

Investors can expect Nifty to continue to trade in a range next week as all eyes will be on the Reserve Bank of India's policy meet on April 6, said Swapneel V Mantri, Technical Analyst - Institutions, Sushil Finance.

Where are we: With the Nifty largely trading rangebound between 9,020-9,190, action was mainly seen in midcap and smallcap counters with midcap indices hitting new lifetime highs. Nifty closed the week firmly above 9,100 level at 9,173.

What is in store: Expect Nifty to continue to trade rangebound going into the RBI policy next week. Any expectations belied from the Monetary Policy committee meet may lead to the much anticipated breather in the ongoing rally. Levels wise, 9,230-9,300 remain a short-term target on the upside. On the downside, 9,050-9,020 remains the support zone.

What should investors do: With the longer term chart structure bullish, investors can look at accumulating shares in any weakness in prices. Sector specific cement scrips ACC (CMP: 1450) and Ambuja Cement (CMP: 236) are breaking out of long consolidation zone on daily charts and offer a good buying opportunity for higher targets of Rs 1,520, Rs 252 respectively. In terms of specific stocks, one can look at buying Amara Raja Batteries(TGT: Rs 962), Castrol (TGT: Rs 462), Pidilite (TGT: Rs 740), Powergrid (TGT: Rs 210), and Zee (TGT: Rs 562) for a good appreciation in short to medium term.