After three consecutive negative session domestic stock market bounced back from the days low. Today domestic stock market has seen a sharp recovery in the second half across all sectors. Sensex and Nifty gained more than 0.50 percent whereas Bank Nifty gained 1 percent. The NSE mid-caps and small-caps were almost flat at the end of the day after smart recovery from the days low.
Today market opened in negative zone in the morning due to global cues. Yesterday, Nikkei 225 was down 1010 points due to fear of a slowdown in growth and recession, other Asian markets were also down. These lead to a weak opening in the Indian stock market today morning (Wednesday).
Among the individual stocks, Brigade Enterprises is on three months high of Rs 220 per share, gained 6 percent today, whereas Jubilant FoodWorks dipped 5 percent to Rs 1155per share, 10percent declined in last two trading session. HDFC bank is the major gainer in the Banking sectors today.
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| Nifty and Bank Nifty Expiry |
Top Nifty Gainers and Losers of the day:
| Top Gainers of the Day | |||
| Scrip | CMP | Change | % Gain |
| Adani Ports | 376.55 | 15.45 | 15.45 |
| Zee Ent. | 455.05 | 18.3 | 18.3 |
| Bharti Airtel | 320.45 | 11.35 | 11.35 |
| Top Losers of the Day | |||
| Scrip | CMP | Change | % Loss |
| Sun Pharma | 413.65 | -10.7 | -2.52 |
| Yes Bank | 179.45 | -2.85 | -1.56 |
| Tcs | 1889.2 | -29.3 | -1.53 |
Nifty on Expiry Day:
If Nifty moves above 10782 then you should Buy with 1stTarget of 10845 during the day with a Stop Loss of 10685 FOR the Target of 10940-10990-11050
If Nifty moves below 10720 then you should Sell with 1stTarget of 10655 during the day with a Stop Loss of 10790 FOR the Target of 10592-10545-10485
Bank Nifty on Expiry Day:
If Bank Nifty moves above 27140 then you should Buy with 1stTarget of 27230 during the day with a Stop Loss 26950 FOR the Target of 27230-27385-27475
If Bank Nifty moves below 26950 then you should Sell with 1st Target of 26850 during the day with a Stop Loss 27225 FOR the Target of 26850-26750-26650
Conclusion:
The
Expiry day would be a highly volatile session, as per the
technical chart, Nifty and Bank Nifty both are up to sideways.
Traders should remain cautious about the global cues.
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Finogyan Team
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