Dhaval P Vyas Investment Research

After seeing yesterday’s intra-day recovery from low, today Nifty managed to gain 0.54%. Buying interest continued in PSU Banking stocks while IT stocks bounced after the recent downmove. On the other hand – Realty, Oil & Gas, FMCG stocks were negative for the day.

Major gainers today: IndusInd Bank, Bajaj Finance, Infosys

Major losers today: Apollo Hospitals, UPL Ltd, Hindalco

18550 spot is support below which selling pressure hasn’t managed to hold convincingly. 18670 spot continues to remain a short-term resistance for Nifty. Stock specific trading approach is likely to remain the key for traders – except few index specific trades here & there. Traders should do well to note – BankNifty has broken out of its sideways range before 3 days.