Trade Long in Nifty with stop loss at 4800 - Karvy

End Game Summary

The markets opened the day on a flat note and continued to trade marginally in the green throughout the day. The Nifty managed to hold on to 4850 levels. Metal stocks were the biggest gainers today. Asian markets closed the day on a flattish note while European markets are trading on a mixed note. The Sensex closed at 16,175 levels. The overall market breadth was positive.

Stock Wise

In the REAL ESTATE & INFRA space, DLF and JP ASSOCIATES were up 3.14% and 3.09% respectively. Among the AUTO stocks, HEROMOTOCO and BAJAJ-AUTO were up 1.92% and 1.89% respectively.

In the IT space, INFOSYS and HCLTECH were down 1.59% and 1.17% respectively. In the BFSI space, IDFC and PNB were up 3.53% and 2.29% respectively.

Outlook

The market is expected to take cues from the global markets and open on a flat to positive note tomorrow. Trade long in the Nifty at 4820 levels with a stop loss at 4800 for targets of 4870 and 4900 levels.

Source : Equity Bulls

Keywords