Mehta Equities’ stocks recommendation of the day_1
By Riyank Arora
On Wednesday, the benchmark indices gave a good breakout above the 19,550 marks. The Nifty ended 231 points higher while the Sensex was up by 742 points. Among Sectors, almost all the major sectoral indices witnessed good buying interest, with Nifty Reality and Nifty IT being the leaders ending up by 2.95% and 2.59% for the day respectively. Technically, post a strong opening the market successfully managed to close above the 19,550 mark. Any pull-back towards 19,650 now should be a good buying opportunity, the next up-move and push the upside towards 19,800 and a weekly close above 19800 should trigger the next up-move towards the 20,000 mark. Immediate Support is looking to be around 19,625 below which downside can extend towards 19,600 and 19,550.
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Markets takes a break after three days rally; Nifty closes near 20,900 top gainers on December 7 include Adani Ports, Power Grid, Ultra Tech Cement whereas Consumer Durables and Media stocks among key losers
The benchmark equity indices ended Thursday’s trading session in the negative territory. The NSE Nifty 50 dropped 36.55 points or 0.17% to settle at 20,901.15, while the BSE Sensex slips 132.04 points or 0.19% to 69,521.69. Bank Nifty index ended flat slight up 6.85 points or 0.01% to settle at 46,841.40.
The broader indices ended in mixed, with fall led by Largecap and smallcap stocks. FMCG and Metal stocks outperformed among the other sectoral indices while Consumer Durables, and Media stocks shed.
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Adani Ports and SEZ, Power Grid corporation, Ultra Tech Cement, CIPLA and NTPC were the top gainers on the NSE Nifty 50, while the laggards include Bharti Airtle, Hindustan Unilever, Apollo Hospitals, ONGC and Tata Steel.
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