Nifty 8709 /Sensex 28082 / Bank Nifty 19378
28 Advances /23 Declines/ 0 Unchanged
“Sensex, Nifty end flat amid thin volume; Reliance, Bharti drag”
Tata Steel, Asian Paints, Cipla, Infosys and GAIL are top gainers while NTPC, Bharti Airtel, HDFC, Adani Ports and SBI are losers in the Sensex.
The market has ended with minor gains amid low volume. The Sensex was up 21.20 points at 28082.3 and the Nifty was up 11.20 points or 0.1 percent at 8708.80. About 1710 shares have advanced, 1180 shares declined, and 135 shares are unchanged.
“India will become second biggest steel manufacturer by year-end”
Currently, China is the largest steel manufacturing country followed by Japan and produces five times more steel than India.
Union Minister for Steel Birender Singh today said India would become the second biggest steel manufacturer in the world by year-end.
Steel industry accounts for just two per cent share in the Gross Domestic Product (GDP) of the country and efforts are being made to increase it.
Our Recommendations
Our Call To Buy PC Jewellers (FUT) around 510 proven great as it flared and made high of 524.50 before settling at 523 on closing. We booked full profit at 523.
[Profit of Rs 19500 on 1 Lot]
Our call to buy Tata Communication (Fut) around 633—630. Too proven great as it flared and made high of 651.25 before settling at 644.05 on closing. We booked full profit at 651.25
[Profit of Rs 29750 1 Lot]
Our BTST call to buy Tata Motors DVR around 367---366 proved great as it flared and made high of 373.20 before settling at 366.80 on closing. We booked part profit at 373
[Profit of Rs 14700 1 Lot]
Our call to buy TBZ (cash ) above 77 proven great as it flared and made high of 89.20 before settling at 87.40 on closing. We booked full profit at 89.
[Return of 15.58% in Just 2 trading day/3 invsetment day
Now what to expect???
Nifty and Bank Nifty Future levels
*Nifty has immediate support at 8690 levels and resistance is at 8780---8850.
A move and sustain below 8690 will take to 8620---8550 mark else it could test it's resistance level of 8780---8850 again.
Further upside rally will see only close above 8850.
*On the other hand, Bank Nifty has immediate support at 19400 and hurdle is intact at 19700.
Break and sustain below 19400 will take it to 19050---18900 else could test it resistance level of 19700 again.
Trade with levels only...
Today's Top Pick
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