3 Key observations from today’s session; Nifty price target visible
Indian Markets opened on a stronger note and continued to climb higher levels on 8th December 2016. The bullish momentum is expected to continue, target seen around 8400 – 8500 zone. Oil and Metal may outperform meanwhile banking nifty expected to gain in line with broader markets.
- FII were net buyers in equity segment by Rs. 700Cr (Approx)
- FII increased long positions in NIFTY Dec Fut
- Among options, stronger hands have accumulated NIFTY 8400 call and BANKNIFTY 19000
Stocks to Watch
- SAIL current trend is bullish; heading towards 65 levels – Metal Outperform the broader market
- HINDALCO & TATASTEEL looking bullish
- MARUTI may resume its bullish trend
- BHARATFORG looking bullish above 975 levels
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