MID SESSION BETTER
Nifty
continued its gains for the Eighth day in a row . Nifty closed
well above 7800 mark, a new record high for Nifty. Stop loss for long
positions may be trailed to 7725. Nifty spot is expected to encounter
resistance at 7865 7900 and find support at 7790 7755, for Friday.
While Global cues, Quarterly results and Funds
flow are expected to broadly guide the market movement, based
on the present market position, market can be expected to be better
during midsession and could experience profit booking towards close.
Nifty
7831 +35
Review
for Thursday :: Recovery in Second Half … !!!
Market
remained subdued to marginally in the forenoon and broke out of the
narrow range to close with about 0.50% gain towards close. 36 of
Nifty stocks gained but broader market was marginally negative with
an Advance Decline ratio of 1:!.1. Metal, PSU Bank, IT, FMCG indices
gained while Media, Energy, Pharma indices declined..Metal, PSU Bank,
IT, FMCG indices gained while Media, Energy and Pharma indices
declined. ITC, Reliance, HDFC Bank and Infy contributed more than 15
points to Nifty’s gain.
Cairn
declined sharply due to disappointing results,
Bank
of Baroda, Asian Paints, HCL Tech and Tata Steel remained major
gainers among Nifty stocks while Cairn. GAIL, Power Grid, Dr Reddy
remained losers.
UCO
Bank, Rel Capital, Bank of India, SAIL, JSW STeel
remained major gainers among F&O stocks while JP Power,
Cairn, JP Associates, Sun TV, Apollo Tyre declined among F&O
stocks.
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