Daily Indian share market update

NIFTY fell for fifth straight day to hit three-month closing low. The 50-share NSE index NIFTY fell 0.99% to finish at 10094.25 on Monday. The Indian benchmark index NIFTY extended losses for the fifth straight session to close below 10,100 mark for the first time in over three months. The sentiment at traders and investors’ desk dampened after Indian rupee slid today against the US currency due to concerns over widening current account deficit and a strong dollar ahead of US Federal Reserve meeting.

Looking overseas, European markets opened sharply lower while Asian markets finished mixed to higher on Monday. The Global investors are cautious ahead of crucial US Federal Reserve meeting which is widely expected to hike interest rates for the first time in 2018 in its meet starting tomorrow.

All sector gauges compiled by the NSE ended lower led by NIFTY REALTY, NIFTY METAL, NIFTY PSU BANK, NIFTY IT, NIFTY MEDIA, NIFTY BANK and NIFTY FIN SERVICE as top losers.

From the NIFTY 50 basket of shares, HCLTECH, TATASTEEL, BHARTIARTL, TECHM, BPCL, IOC, and BAJFINANCE underperformed as top losers while NTPC, POWERGRID, and MARUTI are top gainers.

List of stocks to short tomorrow 20 March

ORIENTBANK: This stock plunged by 5.7% and settled at Rs.95.05 on Monday. Derivative traders were aggressive in adding short positions and the Open interest increased by 8.98%. This stock is trading inside the trading range and the support is seen around Rs.89 and resistance is seen around Rs.108.

NMDC: This stock plunged by 6.65% and settled at Rs.117.9 on Monday. The momentum of the sellers is evident from the opening gap appeared in the daily chart on the back of 1.2 times the increased trading volume. This stock is currently trading below its recent support zone and the near term resistance is seen around Rs.134.

JPASSOCIAT: This stock plunged by 6.24% and closed at Rs.19.55 on Monday. Derivative traders were aggressive in unwinding long positions and the Open interest reduced by 7.93%. This stock is currently oscillating nearer to its resistance zone of Rs.21.

IDBI: This stock plunged by 6.59% and settled at Rs.73.75 at last trading session. This stock is trading inside the trading range and the support is seen around Rs.61 and resistance is seen around Rs.87.

BANKBARODA: This stock plunged by 7.27% and finished at Rs. 133.35 on Monday. This stock volume hiked by 1.2 times with the majority of intraday trades. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.129.

AJANTPHARM: This stock trading volume hiked by 1.2 times with majority of intraday trades on Monday. Derivative traders were aggressive in adding short positions and the Open interest increased by 15.67%. This stock is frequently climbing for 3 days and it is oscillating nearer to its resistance zone of Rs.1431.