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 8^th 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.

Key Insights

1. FII were net buyers in equity segment by Rs. 700Cr (Approx)
2. FII increased long positions in NIFTY Dec Fut
3. Among options, stronger hands have accumulated NIFTY 8400 call and BANKNIFTY 19000

Stocks to Watch

1. SAIL current trend is bullish; heading towards 65 levels – Metal Outperform the broader market
2. HINDALCO & TATASTEEL looking bullish
3. MARUTI may resume its bullish trend
4. BHARATFORG looking bullish above 975 levels

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