How was NIFTY today?

NIFTY holds 10500 mark amid late sell-off. The 50-share NSE index NIFTY fell 0.37% to settle at 10500.90 on Wednesday. The benchmark index NIFTY was trading flat for the most part of the day but slipped into negative territory dragged by State-run banks the most in the final leg of the trade. The investors’ Sentiment in India took a hit after revised bad loan resolution norms by Reserve Bank of India would lead to higher provisioning for bad loans which will hurt the profitability of the banks.

Looking overseas, European markets trading higher on the release of corporate earnings whereas Asian markets finished mixed in cautious trade on Wednesday ahead of Lunar New Year holidays. The worldwide investors await the U.S inflation report due later in the day for further cues on interest-rate changes in the world’s largest economy.

Ten out of eleven sector gauges compiled by the NSE ended lower led by NIFTY BANK, NIFTY PHARMA, NIFTY FIN SERVICE and NIFTY FMCG as top losers. On the other side, NIFTY REALTY is the only gainer.

From the NIFTY 50 basket of shares, YESBANK, SBIN, AXISBANK, ONGC, INFRATEL, SUNPHARMA and ICICIBANK underperformed as top losers while TECHM, IBULHSGFIN, ADANIPORTS, BHARTIARTL, and RELIANCE are top gainers.

Top shares to watch on Thursday 15 Feb

TATAMTRDVR: This stock volume spiked by 58% to 59% of the total trades is taken for delivery on Wednesday. The technical indicator RSI signals oversold scenario as it is continuously sliding for past few days. This stock is trading around the lower range of its price band and the crucial support zone is around Rs.206.

INFRATEL: This stock volume rose 86% to 72% of delivery trades on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest surged by 11.81%. This stock is trading below its recent support zone and the near term resistance is around Rs.370.

PAGEIND: This stock gained by 3.52% and settled at Rs.22846.8 with 2 times the increased trading volume on Wednesday. This stock secured an exceptional gain as it is frequently heading higher levels for 5 days. This stock is trading below its recent resistance zone and the near term support is around Rs.19008.

IGL: This stock witnessed Star pattern on the daily chart with 77% of delivery trades on Wednesday. The aggressive nature of buyers is visible through the opening gap with 2.5 times the increased trading volume. This stock is oscillating nearer to its resistance zone at Rs.321.

YESBANK: This stock is most active stock plunged by 4.49% and to close at Rs.320.35 on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest surged by 8.67%. This stock is trading below its recent support zone and the near term resistance is around Rs.365.

SBIN: This stock plunged by 4.35% and ended at Rs.276.2 on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest surged by 16.23%. This stock is trading below its recent support zone and the near term resistance is around Rs.325.

PNB: This stock Trading volume rose by 1.5 times with the majority of intraday trades on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest surged by 34.66%. This stock is trading below its recent support zone and the near term resistance is around Rs.190.

ORIENTBANK: This stock plunged by 7.73% and ended at Rs.103.85 on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest surged by 27.59%. This stock is trading below its recent support zone and the near term resistance is around Rs.129.

CANBK: This stock plunged by 5.8% and settled at Rs.308.8 on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest surged by 9.4%. This stock is trading below its recent support zone and the near term resistance is around Rs.305.

BANKINDIA: This stock plunged by 7.8% and finished at Rs.133.55 on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest surged by 29.05%. This stock is trading below its recent support zone and the near term resistance is around Rs.174.