Nifty heading high with caution; Manages to sustain above 9800 level. Indian benchmark index Nifty opened with a considerable gap up opening today. Though Nifty had a choppy day it managed to sustain above 9800 level within yesterday’s range. Nifty made a decisive cut above the recent resistance levels 9700 during last Monday, indicating buying interest prevailing in the market. Traders are recommended to hold long positions with the stop of 9650 levels.

Sectors

IT sectors turned volatile with a bearish bias. PHARMA sector sags with an inconsiderable movement. Most of the sectors in NSE heading towards their major resistance zone witnessing the evidence of upcoming new range in the market.

Stocks

  1. ACC strengthen by 3.34% and closed at Rs.1705.95.Trading volume hiked by 123 percent in the last session. There is an evidence of bullish trend formation. It is frequently rising for 5 days. This stock is currently settled above the recent resistance zone. We see short-term support around 1540.

  2. INFRATEL Increase by 2.55% and closed at Rs.420.3. Trading volume inflated by 118 percent in last trading day. Furthermore, 62% of the trades are deliverable volume. It indicates positive breakout. This stock is currently settled above the recent resistance zone. We see short-term support around 380.

  3. HDFCBANK is one among the top traded stocks. Moreover, 56% of the trades are deliverable volume. Derivative traders were aggressive in adding long positions. Open interest surged by 2.35 %. It is trading inside the trading range. The Support is seen around 1640 and resistance is seen around 1720.

  4. INDUSINDBK stocks volume increased by 78% on 12 July 2017. Interestingly 58% of the trades are gone for delivery. It is heading for bullish trend formation. It is steadily advancing for 8 days. This stock is currently settled above the recent resistance zone. We see short-term support around 1460.

  5. HINDUNILVR stocks volume inflated by 65 percent on 12 July 2017. Furthermore, 58% of the trades are gone for delivery. It suggests for bullish trend formation. This stock is currently settled above the recent resistance zone. We see short-term support around 1065.

  6. COLPAL stock volume spiked by 69% on 12 July 2017. Furthermore, 82% of the trades are deliverable volume. Currently, it is trading around the lower range of its price band. The crucial support zone is around 1060.

  7. LICHSGFIN stock volume hiked by 79 percent on Wednesday. Moreover, 63% of the trades were taken for delivery. It is trading below its recent support zone. The near-term resistance is seen around 780.

Comment your stocks to watch below.