How did the NIFTY perform today?

NIFTY snaps long losing streak, thanks to gains in IT stocks. The 50-share NSE index NIFTY rose 0.30% to finish at 10124.35 on Tuesday. The Indian benchmark index NIFTY opened lower but immediately recovered from early lows in the opening hours of trade and ended higher in an overall volatile session to snap its long losing streak. Shares of Information technology companies rallied today reversing a recent spell of declines but broader gains were capped by losses in energy stocks.

Looking overseas, European markets trading mixed to higher tracking Asian markets which finished mixed on Tuesday. The Global investors are braced for new Federal Reserve Chairman Jerome Powell’s first policy meeting starting later in the day, which is widely expected to hike interest rates for the first time in 2018.

Seven out of eleven sector gauges compiled by the NSE ended higher led by NIFTY IT, NIFTY PHARMA, NIFTY AUTO, and NIFTY FMCG as top gainers. On the flip side, NIFTY REALTY and NIFTY PVT BANK are top losers.

From the NIFTY 50 basket of shares, INFRATEL, TECHM, EICHERMOT, TATASTEEL, SUNPHARMA, BOSCHLTD, and BAJFINANCE outperformed as top gainers while IOC, ONGC, and BPCL are top losers.

Shares to watch tomorrow 21 March

TATASTEEL: This stock witnessed Bullish Piercing pattern on the daily chart as it strengthens by 3.14% on the back of 55% increased trading volume on Tuesday. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. This stock is trading below its recent support zone as it is continuously grinding lower levels for 4 days and the near term resistance is seen around Rs.689.

JINDALSTEL: This stock surged by 5.7% and closed at Rs.233.55 on Tuesday. This stock trading volume hiked 95% with a majority of intraday trades. This stock is currently is trading around the lower range of its price band and the crucial support zone is around Rs.221.

NIITTECH: This stock surged by 4.11% and settled at Rs.918.05 on Tuesday. This stock trading volume hiked 1.5 times with the majority of intraday trades. This stock is regularly scaling down for 3 days and it is oscillating nearer to its resistance zone of Rs.959.

SAIL:  This stock surged by 4.86% and ended at Rs.72.25 on Tuesday. Derivative traders were aggressive in exiting short positions and the Open interest reduced by 5.08%. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.69.

L&TFH: This stock dropped by 2.35% and closed at Rs.153.6 on Tuesday. This stock trading volume hiked 51%s with a majority of intraday trades. This stock is trading below its recent support zone as it is regularly sliding for3 days and the near term resistance is seen around Rs.167.

CONCOR: This stock trading volume hiked 47% with a majority of intraday trades. This stock is trading below its recent support zone as it is regularly sliding for 3 days and the near term resistance is seen around Rs.1342.

RELINFRA: This stock surged by 6.79% and to close at Rs.453.05 on Tuesday. This stock trading volume hiked 1.5 times with the majority of intraday trades. This stock is oscillating nearer to its resistance zone of Rs.466.

MARICO: This stock surged by 5.18% and to close at Rs.318.95 on Tuesday. This stock trading volume hiked 2.5 times with the majority of intraday trades. This stock is currently settled above the recent resistance zone and the short term support around Rs.300.

CANBK: This stock dipped by 3.79% and settled at Rs.254.2 on Tuesday. This stock trading volume hiked 41% with a 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.234.