How was the stock market today?

Nifty had a lackluster day; REALTY sector tested new historical 52 weeks high. Nifty opened normally the early trend was sideways but the market lost grip on the opening range and sliding down. The closing hours gained bullish momentum making movement choppy. Nifty wobbles to geopolitical causes. Nearer term support seen around 9825 and resistance remains at Psychological level 10000.

Sectors

METALS sector is the top gainers among the sector as some of its heavy weights outperformed. REALTY sector edged up to new 52 weeks historical high but it was dragged down by sentiment. The sectors FMCG and ENERGY witnessed weak sentiment in today’s session. Other sectors had a sluggish momentum.

Stocks of the day

  1. ITC weakened by 1.92% and closed at Rs.270.4. Trading volume hiked by 69 percent in last trading day. Moreover, 67% of the trades were taken for delivery. There is an evidence of negative breakout. Derivative traders were aggressive in adding short positions. Open interest surged by 11.35 %. It is trading below its recent support zone. The Near term resistance is seen around 286.

  2. ICICIBANK stock’s volume spiked by 54 percent at last session. Interestingly 58% of the trades were taken for delivery. Derivative traders were aggressive in adding short positions. Open interest surged by 4.45 %. It is trading inside the trading range. The Support is seen around 281 and resistance is seen around 303.

  3. GODREJCP Increase by 2.75% and finished at Rs. 925. It did rise in the last trading session but fell by a significant margin on a weekly basis. Derivative traders were aggressive in exiting short positions. Open interest reduced by 7.77 %. It is trading inside the trading range. The Support is seen around 853 and resistance is seen around 977.

  4. EICHERMOT stocks volume inflated by 108 percent on 7 September 2017. There is an evidence of positive breakout. The aggressive nature of bulls is visible through the today’s gap. It is steadily heading higher levels for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 30211.55.

  5. IBULHSGFIN surged by 4.12% and finished at Rs. 1316.35. Trading volume increased by 140 percent on Thursday. There could be positive breakout. The strength of the bulls is visible through the unfilled gap. This stock is currently settled above the recent resistance zone. We see short term support around 1132.

  6. TATAELXSI volume rose by 89 percent in last trading day. It is heading for positive breakout. Derivative traders were aggressive in adding long positions. Open interest increased by 13.41 %. This stock is currently settled above the recent resistance zone. We see short term support around 1634.

  7. COLPAL Increase by 2.69% and closed at Rs.1145.9. Trading volume hiked by 91 percent in last trading day. There is an evidence of bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 1100.

  8. ARVIND strengthen by 3.03% and closed at Rs.397.55. Trading volume increased by 194 percent on Thursday. It gives an impression of a bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 358.

  9. BAJFINANCE surged by 5.61% and finished at Rs. 1963.2. Trading volume hiked by 252 percent on 7 September 2017. It suggests for a bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 1752.

  10. TATACHEM surged by 6.34% and settled at Rs.616.95. Trading volume inflated by 225 percent. It is heading for a bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 560.

  11. NMDC stocks volume spiked by 50 percent in last trading day. It is heading for bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 126.