Dhaval P Vyas Investment Research

Today, Nifty opened on a negative note and closed with a loss of 0.60% for the day.

The market breadth was negative. Buying came into FMCG, and Media stocks. Selling pressure was visible in Metal, PSU Banks and Real-estate stocks.

Major gainers today: Hindustan Unilever, BPCL, ITC

Major losers today: Bajaj Finserv, Adani Enterprises, Bajaj Finance

After 2 days of rest, bears set the tone for 1st half of the day. But, bulls fought back well in the 2nd half ensuring a decent recovery. This has rekindled a hope for further recovery.

For Nifty, support lies at 16800 spot with resistance at 17200 spot. Despite a high volatility and a fall on the 1st day of the week, the market looks strong enough to see a bounce as far as Nifty continues to hold above 16800 spot.

Profitable trading!