The Bank Nifty today is a purchasing opportunity, especially after yesterday's price movement says. Market is likely to open up and traders must use this opportunity to take profits on existing short positions. Bank Nifty today is a buying opportunity, mainly after yesterday's price movement. The Bank Nifty yesterday rallied about 500-points from the lows so there could be a likely movement upwards. So one can buy it with a stop around 17600. Since we are in a bull market correction, the gap up could last or could fizzle out and so one should wait for about two days to see if the lows hold or the decline continues. Stock specific, Infosys , LIC Housing and HPCL are good trades for the day and one can buy them on dips. On the banking front ITC today also is likely to remain rough and had no trade on it either way. HUL is a low beta stock but one look for a positional trade in it even at current levels of Rs 763. His target of Rs 1000 on the stock residue.
Both BHEL and GAIL are up 4 percent. Tata Power, Hindalco and ICICI Bank are other top gainers in the Sensex. Among the losers are Hero, Wipro, HDFC.
The market is holding on to key levels. The Sensex is up 261.77 points or 0.9 percent at 26971.90, and the Nifty is up 77.05 points or 0.9 percent at 8106.85. About 1844 shares have advanced, 528 shares reduced, and 73 shares are same. Banks, infra and oil & gas stocks are lending strong support to the indices. 11:30 am Buzzing: Investors bought shares of Transformers & Rectifiers India (TRIL) on Thursday on signing technology license agreement with Japanese company. The stock denounce as much as 16 percent intraday.
INCREASE IN OPEN INTEREST
ASHOKLEY 47.50CE
NIFTY
DLF
CNXIT
DECREASE IN OPEN INTEREST
HCLTECH 1560CE
MCLEODRUSS
NIFTY 6900PE
BANK NIFTY
No comments:
Post a Comment