Stocks market analysis

NIFTY ended higher for the first time in the year 2018 to reclaim 10500 mark. The 50-share NSE index NIFTY surged 0.59% to settle at 10504.80 in today’s trade increasing for the first time in the New Year to reclaim 10500 mark. Public sector bank stocks contributed the NIFTY most on BANK NIFTY F&O expiry day as investors gained momentum after the government sought for parliamentary approval to issue about Rs 80,000 crore of bonds to fund capital injections into state lenders.

Looking overseas, European markets are trading higher on Thursday extending gains from the previous session following the lead from the Asian market which ended broadly higher on a record-setting run today as economic data from the U.S. and some regions of Europe reinforced investors optimism.

Nine out of eleven sector gauges compiled by the NSE ended higher led by NIFTY METAL and NIFTY PSU BANK surging nearly 3% as top gainers whereas NIFTY REALTY and NIFTY AUTO are the top losers.

From the NIFTY 50 basket of shares, ASIANPAINT, DRREDDY, LT and TATASTEEL dazzled as top gainers while TATAMOTORS, EICHERMOT, and BPCL are the top losers.

The perfect list of stocks to trade today.

JISLJALEQS: This stock advanced by 5.83% to finish at Rs.136.25 with 162% increased trading volume on Thursday. Derivative traders were aggressive in adding long positions and Open interest gained by 18.33% signaling for the bullish rally formation. This stock is currently settled above the recent resistance zone.

IDBI: This stock gained 8.24%to end at Rs.64.4. The momentum of the bulls is visible through the gap appeared in daily chart and the 9 times the increased. Though numerous trades were intraday in nature, there could be a positive breakout. This stock is currently settled above the recent resistance zone and the short term support is around Rs.57.

JINDALSTEL: This stock trading volume inflated 7 times on 4 January 2018 and registered a remarkable margin in the last few sessions. This stock surged 11.39% to close at Rs.244.55 indicating for the bullish breakout. This stock is currently settled above the recent resistance zone and the short term support is around Rs.159.

GMRINFRA: This stock plunged by 3.44% to close at Rs.21.55 on 4 January 2018. Derivative traders were aggressive in unwinding long positions and Open interest reduced by 1.72% which justifies the bearish trend formation. Currently, this stock is oscillating nearer to its resistance zone of Rs.23.

BANKBARODA: This stock gained 3.83% to end at Rs.163.9 with 92% increased trading volume on Thursday.  This stock did rise in the last trading session but fell by a significant margin on a weekly basis. This stock is trading inside the trading range and the Support is around Rs.157 and resistance is around Rs.172.

CUMMINSIND: This stock surged by 4.47% to close at Rs.972.95 with 2 times the increased trading volume. There is an evidence of bullish trend formation as this stock 57% trades are taken for delivery. This stock is currently settled above the recent resistance zone and short-term support is Rs.838.

CESC: This stock trading volume inflated by 160% on 4 January 2018. Derivative traders were aggressive in adding long positions and Open interest gained by 4.68% which justifies the bearish trend formation. This stock is currently settled above the recent resistance zone and the short term support is around Rs.980.

ADANIENT: This stock rallied 4.03% and listed in top traded counters on Thursday. Though numerous trades are intraday in nature this stock is heading for bullish trend formation. This stock is currently settled at Rs.183.3 above the recent resistance zone.

TATAPOWER: This stock fell 1.19% to end at Rs.99.6. The technical indicator RSI indicates overbought scenario which signals the possibility of short-term selling pressure. This stock is currently settled above the recent resistance zone and the short term support is around Rs.88.