Nifty crosses 9,200-mark intra-day; ITC up by 7%
Analysts at HDFC Securities said, If Nifty sustains above 9140 level then traders could expect positive move in the Nifty towards 9200 followed by 9240 level. If Nifty trades below 9140 level for first hour of trade then traders may see down move, which could take Nifty towards 9080 level followed by 9020 level.
Indian equity indices opened positive for the second consecutive day with Nifty touching a new high of 9,200-mark.
At 9.38 am, Nifty was trading at 9,183.95m up 30.25 points or 0.33%, while Sensex was at 29,733.07 up by 147.22 points or 0.50%.
Indian Rupee was trading higher against US dollar. The rupee was trading at 66.615 against dollar up by 0.210 paise or 0.32%.
Top gainer on BSE were - ITC trading at Rs 286.50 per piece surging over 6.82%, followed by Tata Steel at Rs 506.70 per piece (1.37%), Hero Motocorp at Rs 3367.95 (0.57%), Adani Ports at Rs 326.40 per piece (0.54%) and Lupin at Rs 1464.10 per piece (0.53%).
Top losers on BSE were - Bharti Airtel (Rs 357.25 per piece), followed by Gail India (Rs 375.50 per piece), Larsen & Toubro (Rs 1559.90 per piece), Infosys (Rs 1023 per piece) and Bajaj Auto (Rs 2923 per piece) trading negative in the range of 0.40% - 0.80%.
Sectors like Fast Moving Consumer Goods (FMCG) and metal were seeing highest gains on both BSE and NSE.
Nifty FMCG was trading at 23,704.40 up by 3.49% and Nifty Metal at 3,153.15 above 0.56%.
Analysts at HDFC Securities said, “If Nifty sustains above 9140 level then traders could expect positive move in the Nifty towards 9200 followed by 9240 level. If Nifty trades below 9140 level for first hour of trade then traders may see down move, which could take Nifty towards 9080 level followed by 9020 level.”
Another analyst from Motilal Oswal said, “Overall it has been making higher top – higher bottom formation and supports are shifting higher from 9000 to 9075 on immediate basis. Major market trend is positive till it hold above psychological 9000 zone.”
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