Top stocks for trading tomorrow.

Nifty Pare Losses to Trade Range bound; INFY, IOC soared by 3%. Indian bench mark index Nifty witnessed star pattern on daily chart. The recent recovery is just a part of short term consolidation. We see strong resistance around 9950 levels. Any settlement above the aforesaid resistance could help bulls to regain the sentiment. Swing traders can use weakness below the previous day’s low for creating short positions.

Sectors on action

Mostly all the sectors in NSE were taken by bullish dominance, except PSU BANKS which are more or less in a neutral state. Among the sectors, MIDCAP, NIFTY NEXT 50, FMCG, MEDIA are the top gainers.

Top stocks for trading

Most of the bullish stocks have witnessed adequate volume but the momentum was not that strong which indicates still the market having selling pressure intact. TATAMOTORS and TATAMTRDVR are among the top losers where as the stocks INFY, IOC, NTPC, YESBANK, SUNPHARMA are the stocks which contributed bullish sentiment to Nifty as top gainers.

TATAMOTORS fell by 1.26% and to close at Rs.379.3. It witnessed Bearish Engulfing pattern on daily chart. Derivative traders were aggressive in adding short positions. Open interest increased by 2.73 %. Currently, it is trading around the lower range of its price band. The crucial support zone is around 358.

SBIN is the most active stock. Derivative traders were aggressive in adding short positions. Open interest gained by 4.15 %. It is continuously climbing for 3 days. Currently, it is trading around the lower range of its price band. The crucial support zone is around 270.

NHPC weakened by 1.85% and closed at Rs.29.2. Trading volume rose by 39 percent in the last session. Surprisingly 61% of the trades were taken for delivery. It is likely to witness It is trading below its recent support zone. The Near term resistance is seen around 31.45.

L&TFH surged by 7.55% and to close at Rs.188.05. Trading volume hiked by 170 percent. It signals bullish breakout. The momentum of the bulls is evident from the opening gap. This stock is currently settled above the recent resistance zone. We see short term support around 165.

INFY stock’s volume increased by 54% on 28 August 2017. Impressively 58% of the trades were taken for delivery. It is regularly heading higher levels for 3 days. It is trading inside the trading range. The Support is seen around 878 and resistance is seen around 1020.

CASTROLIND weakened by 1.75% and closed at Rs.383.85. Trading volume hiked by 56 percent on Monday. Impressively 56% of the trades were taken for delivery. Currently, it is trading around the lower range of its price band. The crucial support zone is around 372.

ADANIPOWER surged by 6.13% and ended at Rs.30.3. Trading volume rose by 204 percent in the last session. Derivative traders were aggressive in adding long positions. Open interest gained by 7.27 %. It is continuously climbing for 3 days. It is trading inside the trading range. The Support is seen around 27.6 and resistance is seen around 35.

ADANIENT surged by 9.21% and settled at Rs.119.2. Trading volume inflated by 335 percent in last trading day. But most of the trades are intraday in nature. The aggressive nature of buyers is indicated by the unfilled gap. It is regularly advancing for 3 days. It is trading inside the trading range. The Support is seen around 115 and resistance is seen around 143.