Dalal Street starts Samvat 2082 on an upbeat note as Sensex and Nifty clock their 5-day winning streak.
Modest gains on Mauhrat Trading Day! Yipeee!!
NIFTY (+25, 25869)
Sensex (+63, 84426)
Bank Nifty (-26, 58007)
Well, the Diwali party continued as bulls to remained firmly in control, and celebrated another festive positive session — The positive takeaway was that in the broader markets, the NSE Midcap 100 index rose 0.11% and the Nifty Smallcap 100 index rose 0.6%.
Bottom-line: All bullish eyes set on Nifty’s all-time peak at 26,277.35, which is likely to be sooner rather than later.
Long Story Short: Well, what began as a dovish RBI-driven rally has started to broaden out indicating, ‘Happy days are here again’
Adv-Dec 30—20
INDIA VIX 11.29 (-0.63%)
NIFTY PCR (28th OCT) 0.99
USD/INR Futures (Sep) (+0.14%, 88.05)
Sectoral Gainers
NIFTY MEDIA (+0.56%)
NIFTY METAL (+0.40%)
NIFTY PHARMA (+0.34%)
Sectors Losers
NIFTY REALTY (-0.09%)
NIFTY PSUBANKS (-0.06%)
TODAY’S MARKET RE-CAP:
1) Banking stocks ended flat as the Nifty Bank index slipped 0.044% and most importantly, is flirting with its all-time-high at 58261.55 mark.
2) Nifty (+0.10%) opened on a firm footing and the positive takeaway was that the benchmark ended in green in the Mahurat trading day despite profit taking at higher levels.
Nifty is clearing above its 21 DMA (25158), 50 DMA (24980) and its 100 DMA (25007).
Nifty’s 200 DMA at 24252 mark.
3) The market breadth (37:13) was in favour of the bulls.
4) Nifty Mid-cap (+0.11%) and Nifty Small-cap (+0.43%) indices ended with modest gains.
5) Technically, the next goal post for Nifty is seen at 26000 mark and then its all-time-high at 26277.35 mark.
Bottom-line: Happy days are here again at Dalal Street.
STOCKS IN SPOTLIGHT:
Biggest Nifty gainers were Cipla, Bajaj Finserv, Axis Bank, Infosys, Grasim, while losers included Kotak Mahindra Bank, ICICI Bank, HCL Technologies, Max Healthcare, Asian Paints.
Droneacharya Aerial Innovations jumped 4.27% after the company announced that it has been awarded a work order by the Indian Army, Ministry of Defence, for the supply of 500 units of sub-tactical very short-range drones.
Top Nifty gainers
CIPLA (+1.58%)
BAJAJFINSV (+1.18%)
INFY (+0.69%)
JSWSTEEL (+0.68%)
GRASIM (+0.67%)
Top Nifty Losers
KOTAKBANK (-0.98%)
ICICIBANK (-0.65%)
ASIANPAINTS (-0.64%)
ULTRACEMCO (-0.61%)
HCLTECH (-0.60%)
OUR VIEW FOR THURSDAY’S TRADE
Our stock markets will remain closed tomorrow on account of Balipratipada.
Technically, we suspect Nifty will now aim its all-time high at 26277.35 mark.
Bottom-line: Festive season optimism likely to help benchmarks acquire more heights.
ALL ABOUT NIFTY:
Nifty (CMP: 25869)
Support: 25675/25501
Resistance: 26000/26277
Range: 25722-26000
21 DMA: 25160
50 DMA: 24981
200 DMA: 24522
Trend: Positive
BULLISH LOOKING STOCKS:
CIPLA
GRASIM
NUVAMA
BULLISH LOOKING STOCKS (LONG TERM):
BEL
L&T
FEDERALBNK
BEARISH LOOKING STOCKS:
ASIANPAINTS
KEI
TITAN
STOCKS TO AVOID:
IEX
CDSL
360ONE
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