Dhaval P Vyas Investment Research

Today, Nifty opened with decent gains but gave up most of the gains – as it closed marginally up 0.23%.

Major buying was seen in IT, PSU Banking, Media and Real-estate stocks. On the other hand, Energy and Auto stocks showed some weakness.

Major gainers today: Hindalco, Ultratech, Tata Steel

Major losers today: ICICI Bank, UPL, Eicher Motors

Market trend continues to remain ‘positive’. Yesterday, we mentioned resistance at 18900 spot zone. Today, Nifty high was 18888 spot. Technically, 18900 is likely to remain a resistance for Nifty while support is 16670-16550 spot. For the traders, the major concern is sluggish movement in Banknifty in last few days.