Indian Stock Market Report 22nd October, 2013

Today, the market opened a bit down but managed to close flat for the day.

Infra, Metal and Media stocks continued to get buying interest while IT stocks reversed the trend compared to previous day as they managed to see some buying.  Auto, FMCG stocks declined for the day.

Major Gainers today: Renuka, Punj Lloyd, J P Power

Major Losers today: Karnataka Bank, DishTV, Adani Enterprises

Though the market has struggled to move up, the trend still remains up and Target of 6260 spot in Nifty continues to remain on cards. One should note that selling has still not been seen in a major way. So, keeping the long positions open is not a bad idea.

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