Dhaval P Vyas Investment Research

Today, Nifty saw 2nd consecutive day of buying as it closed 0.70% up.

Market breadth turned positive from negative yesterday. Buying came into Real-estate, Metal and IT stocks. On the other hand – Media, Pharma and Auto stocks were down for the day.

Major gainers today: HCL Technologies, HINDALCO, Ultratech Cement

Major losers today: Eicher Motors, NTPC, MARUTI

Yesterday: We wrote “From technical point of view, a bounce is likely to be seen.”

Today: Considering day’s high, Nifty went up 150+ points intra-day.

17200 spot may act as a resistance point for Nifty. From bulls’ perspective, next week is likely to remain interesting. Will bulls add to strength or bears will try to come back after 2-day rest + 2 days of weekend. 🙂

Profitable trading!