Nifty stumbled at historical high tumbling to Wednesdays close; IT felt by -1.58%. Nifty made a historical high 10114 level after a gap up the opening of 40 points. The midsession and post market session turned clueless owning to a settlement of the derivative contract. Nifty reeled to close near Wednesday’s closing price (10020). The minor support of Nifty falls near to 9940 level, further weakness below the level is expected to take Nifty to Fibonacci retracement zone 9700 -9780.

Sectors

BANKING sector withstands the selling pressure as its stocks YES BANK, HDFC BANK holed its gains. SERVICE, MEDIA sectors managed to retain their gains in today’s session rest other sectors was dragged by PHARMA AND IT sectors. IT sectors underwent a correction as its heavy weight stocks INFY, TCS, HCL TECH paired week’s gains.

Stocks

YESBANK surged by 4.32% and to close at Rs.1785.85. At the same time, it secured exceptional returns over recent days. Trading volume increased by 501 percent in last trading day. There could be positive breakout as we could see the gap remains open.

GODREJCP surged by 4.4% and ended at Rs.1074. Trading volume hiked by 249 percent in last trading day. 64% of the trades are taken to delivery. We see short term support around 945.

ICICIBANK witnessed Bearish Piercing pattern on daily chart. It is listed in top traded counters. Impressively 57% of the trades were taken for delivery. It is regularly heading higher levels for 4 days. This stock is currently settled above the recent resistance zone. We see short term support around 296.

BEL witnessed Star pattern on daily chart. BEL stock volume raised by 296 %. Moreover, 65% of the trades are deliverable volume. We see short term support around 168.

HDFCBANK advanced by 2.41% and ended at Rs.1789.65. Trading volume hiked by 264 percent on 27 July 2017. Interestingly 62% of the trades were taken for delivery. It is likely to witness bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 1647.

INFY is the most active stock. Moreover, 77% of the trades were taken for delivery. Derivative traders were aggressive in adding short positions. Open interest gained by 11.04 %. It is trading inside the trading range. The Support is seen around 932 and resistance is seen around 1008.

KTKBANK slipped by 3.07% and finished at Rs. 151.7. There could be a negative breakout. Derivative traders were aggressive in adding short positions. Open interest surged by 14.39 %. It is trading below its recent support zone. The Near term resistance is seen around 171.

SBIN is listed in top traded counters. Impressively 63% of its trades are taken delivery. It is heading for a bullish breakout. It is frequently climbing for 4 days. This stock is currently settled above the recent resistance zone. We see short term support around 280.

TATAMOTORS witnessed Bearish Engulfing pattern on daily chart. It is listed in top traded counters. Surprisingly 77% of its trades are gone for delivery. It is trading inside the trading range. The Support is seen around 427 and resistance is seen around 469.

Comment your stocks to watch below.