Daily Indian stock market update

NIFTY up for the second straight day ahead of U.S. Fed decision. The 50-share NSE index NIFTY rose 0.31% to finish at 10155.25 on Wednesday. The Indian benchmark index NIFTY rose for the second day in a row and closed higher on the back of healthy buying across most sectors but were off day’s high as traders took a cautious stance ahead of the outcome of Federal Reserve Meeting. The sentiment in today’s session is influenced over the covering-up of short positions by speculators and also through continuous capital inflows by foreign funds.

Looking overseas, European markets trading mixed to lower while Asian markets finished mixed to lower on Wednesday. The Worldwide market is awaiting cues on the pace of interest rate hikes this year from the U.S. Federal Reserve’s March policy meeting outcome due later in the day.

Among sector gauges compiled by the NSE NIFTY REALTY, NIFTY FIN SERVICE and NIFTY BANK excelled as top gainers while NIFTY MEDIA, NIFTY PHARMA, and NIFTY METAL are top losers.

From the NIFTY 50 basket of shares, BHARTIARTL, BAJFINANCE, NTPC, IBULHSGFIN, BPCL, and LT outperformed as top gainers while TATASTEEL, BOSCHLTD, HEROMOTOCO, ADANIPORTS, and EICHERMOT are top losers.

Top picks for trading tomorrow 22 March 18

UBL: This stock plunged by 4.4% and closed at Rs.959.25 on Wednesday. This stock trading volume hiked 2 times with the majority of intraday trades. Derivative traders were aggressive in adding short positions and the Open interest surged by 22.11%. This stock is trading below its recent support zone and the near term resistance is seen around Rs.1091.

TATASTEEL: This stock weakened by 1.81% and to close at Rs.582.25 on Wednesday. This stock is one among the top traded stocks with a majority of intraday trades. This stock is trading below its recent support zone and the near term resistance is seen around Rs.686.

RCOM: This stock surged by 9.52% and to close at Rs.25.3 on Wednesday. This stock trading volume inflated 76% with a majority of intraday trades. This stock is trading inside the trading range and the Support is seen around Rs.22 and resistance is seen around Rs.30.

NTPC: This stock trading volume hiked 35% with 69% of the trades is taken for delivery. Derivative traders were aggressive in adding long positions. Open interest gained by 3.47%. This stock is oscillating nearer to its resistance zone of Rs.171.

NMDC: This stock trading volume hiked 106% with 72% of the trades is taken for delivery. This stock is trading around the lower range of its price band and the crucial support zone is around Rs.119.

NIITTECH: This stock strengthened by 3.44% and to close at Rs.949.65 on Wednesday. This stock trading volume inflated 105% with a majority of intraday trades. This stock is oscillating nearer to its resistance zone of Rs.959.

JUBLFOOD: This stock surged by 4.03% and ended at Rs.2207.35 on Wednesday. This stock trading volume inflated 131% with a majority of intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.1966.

HEROMOTOCO: This stock trading volume hiked 138% with 67% of the trades is taken for delivery. Derivative traders were aggressive in adding short positions and the Open interest increased by 5.51%. This stock is trading around the lower range of its price band and the crucial support zone is around Rs.3461.

DHFL: This stock strengthened by 3.34% and ended at Rs.520.2 on Wednesday. This stock trading volume inflated 75% with a majority of intraday trades. This stock is currently trading inside the trading range and the support is seen around Rs.490 and resistance is seen around Rs.577.

CESC: This stock dropped by 2.27% and settled at Rs.880.2 on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest increased by 2.75%. This stock is trading below its recent support zone and the near term resistance is seen around Rs.1024.

BHARTIARTL: This stock surged by 4.45% and closed at Rs.418.2 on Wednesday. Derivative traders were aggressive in exiting short positions and the Open interest reduced by 2.21%. This stock is oscillating nearer to its resistance zone of Rs.433.

BEML: This stock surged by 4.85% and to close at Rs.1100.15 on Wednesday. This stock trading volume inflated 136% with a majority of intraday trades. This stock is trading around the lower range of its price band and the crucial support zone is around Rs.1047.