While it is hard to pinpoint a reason for the sudden surge, a decline in food inflation for a second consecutive week and the retreat in global commodity prices, which augur well for the Indian economy could have spurred short covering near support levels.The banking stocks namely Yes bank and Kotak Mahindra Bank saw a good upmove by virtue of reporting strong Q3 earnings.
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Derivative Segment future Prediction: Analysis of derivative data suggests that 1.80 lakh shares were reduced in open interest with a substantial increase in the cost of carry, indicating that the aggressive rally in the second half of today’s session was due to short covering. On the options front, implied volatility increased marginally, indicating that the volatility will continue to persist going forward.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 5670 | 5733-5800-5836 |
Sensex | 18900 | 19350-19500 |
Stock | Profit (Rs) |
Tip | 1340 (Rs 50,000 Trading) |
Share | Gains (Rs) |
Tips | 37980 |
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 57540 |
Strong future shares at National stock exchange
HCL Tech,Orchid Chem,TV18,Ispat Ind, BRFL,Jindal Saw,Hexaware,TCS,Polaris & Mphasis.
Weak future stocks at NSE
IVRCL Infra,Jet Airways,Zeel,Orbit Corp,Ster Tech,Pantaloon,Rel Media,HDIL,Patel Engg & Jindal Saw.
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