It was a cheerful start to the week for the Indian market which, in keeping with positive global sentiments, traded with strength and ended with huge gains with the Nifty closing at a 31-month high. The rally was led by the metal pack which saw strong buying interest followed by realty, financial, oil & gas and auto. Today's session saw the biggest point gain on the Sensex since May 26, 2010, according to NDTV Profit. Sensex shut shop at 18560, up 338 points and Nifty at 5576, up 97 points from the previous close. The market breadth was positive with advances at 989 against declines of 292 on the NSE.
Next Day Trading Session:
In the next session NIFTY is expected to trade in the range 5520-5610. However, 5480 might act as strong support level forNIFTY. Traders are suggested to buy at dips. Banking stocks may attract buying again. Auto and reality may also appearstrong while PHARMA and FMCG may face selling.
Stock for watch:
Icici bank: Stock looking good on chart, can touch 1100-1120 in near term. Buy with SL of 1000.
Escort: buy with sl of below 208 tgt 227-233
Also watch:
Everonn education ltd
Everest industries ltd
Stocks Can give good movement.
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