Market Round Up
- Taking clues from weak Global markets, domestic bourses opened on negative note and thereafter continued to see profit booking that kept indices under pressure. Selling pressure was seen in metal, power, infra and technology sector that dragged nifty below 10100 levels in intraday session and finally settled around 10118 down by 68 points.
- From higher levels, long unwinding pressure was seen in bank nifty and nifty fut. whereas Nifty IT added fresh shorts. Nifty fut. shed almost 6 lakh shares in OI and closed at 36 points premium.
- Profit booking was seen across the board and overall stock fut. shed almost 4 cr. shares in OI. Major unwinding was seen in stocks like voltas, hexaware, justdial, cgpower, kscl and cadilahc.
- Selected buying interest was seen in tyre sector and stocks like balkrisind, icil, pageind, amarajabat, fortis and mrf.
- Stocks like bata, igl, vguard, recltd, petronet and relcapital added fresh shorts in yesterday’s trade. Indices are expected to open on flat note in today’s session and will continue to see long unwinding pressure at higher levels. However, on lower side nifty will find strong support around 10040 levels and from those levels pullback is expected in second half of session. Put writing at 10000 strike option will also prove as strong support zone whereas call writing t 10200-10300 will act as stiff resistance in short term.
Script Action Initiation Target SL
NCC BUY Around 99 109 94
PFC BUY Around 122.50 128 120.90
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