Dealer’s Diary
The Indian markets recouped the losses of the previous trading session, as they traded with strong gains throughout the day, without any major volatility. The indices witnessed a gap-up opening, along expected lines, as global indices traded with gains in excess of 1%. The BSE Sensex and the NSE Nifty soared by 2.1% each. The BSE Mid-cap and Small-cap indices underperformed the benchmark indices and gained 1.5% and 1.1%, respectively. Among the frontliners, Sterlite, Tata Steel, L&T, HDFC and Hindalco were up by 3-6%, while Sun Pharma was down by 1%. In the Mid cap segment, Prakash Ind., Blue Dart, Core Projects, Rajesh Exports and BGR Energy were up by 6-11%, while Spice Communications, CRISIL, HT Media, Andrew Yule and Simplex Infra were down by 3-6%
The trend deciding level for the day is 16420/4904 levels. NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 16629–16763/4977–5022 levels. However, if NIFTY trades below 16420/4904 levels for the first half-an-hour of trade then it may correct up to 16287–16077/4859–4786 levels.
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