Indian Stock Market Report 21st October, 2013

Today, Nifty traded sideways for most part of the day and closed flat with gain of 0.25%.

Media, Infra and Metal stocks were able to get buying. On the other hand, FMCG and IT stocks went down for the day, these two sectoral indices put their weight to limit the upside for Nifty.

Major Gainers today: Adani Enterprises, Federal Bank, Asian Paints

Major Losers today: Jindal Steel & Power, Petronet, Tata Global

We reiterate our opinion (which was given around 5980 spot level in Nifty) that the Target for long NIFTY trade should be around 6260 spot level. The bias remains positive.

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