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Sensex: Gold: Rs.29630.00
Nifty: 10817 +28.50 Silver: Rs.38972.00
Derivatives: Buy Asian Paints; Sell Indraprastha Gas - IndiaNotes.com
Derivatives: Buy Asian Paints; Sell Indraprastha Gas
Way2wealth | Published: 10 Jan, 2018  | Source : IndiaNotes.com

Domestic bourses opened on positive note in yesterday’s session but thereafter nifty continued to trade in narrow band of 30 points with no clear direction. From higher levels, profit booking was seen in banking, telecom, auto and capital goods sector that kept indices under pressure. However, pullback in last hour of trades helped nifty to close around 10637 with gains of 13 points.


- Nifty fut. saw long accumulation whereas bank nifty fut. added fresh short positions in yesterday’s session.


- From higher levels profit booking pressure was seen in banking, auto pharma and telecom sector Major unwinding were seen in stocks like niittech, jet, wockpharma, ifci, rcom and jindalstel.


- Pcjeweller, ceat, ncc, chennaipetro, bergepaint and dcbbank were some of the selected stocks that saw long buildup.


- Short positions were initiated in stocks like balkrisind, pageind, nmdc, rpower, zee and havells.


Markets are expected to open on flat note in today’s session and thereafter will trade in narrow band of 10610-10660 levels. On higher side, nifty will see minor resistance around 10660-10680 and from those levels profit booking can be seen. However, overall sentiment remains bullish and any dips towards 10550-10500 levels can be used to initiate fresh long positions.


Recommendation


Script              Action         Initiation        Target         SL


IGL                  SELL         Around 326      314         330

ASAINPAINT     BUY         Above 1200      1233         1185

  Read full report Click here to read the full report


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.