Market update for Jan 1 2018.

NIFTY on a Bull ride throughout the year with the biggest yearly gain. The 50-share NSE index NIFTY ended the year 2017 higher by 0.50% to settle at 10,530.70 with the best annual gains in three years. Indian market rose today to sign off 2017 with the record-setting run throughout the year, as strong foreign fund inflows, hopes of an improving economy and higher corporate earnings boosted investor confidence. Investors will now be looking ahead as to what 2018 will deliver in terms of market-moving events and key trends.

Looking overseas, European markets trading mixed in line with Asian market which ended the year mixed to positive today as investors wave goodbye to 2017 and look ahead to long New Year break.

Among the sector gauges compiled by NSE, NIFTY IT and NIFTY FMCG are the top gainers while NIFTY MEDIA and NIFTY METAL are the top losers.

From the NIFTY 50 basket of shares, AXISBANK, TATAMOTORS, INFRATEL and TCS tops the table as top gainers whereas GAIL, BPCL, HINDPETRO are the top losers.

Top stocks to trade on the first day of 2018 

RCOM: This stock is on the top stock list for the past 6 days. This stock reported remarkable gains on the weekly basis. This stock surged 16.99% to finish at Rs.36.15 with exceptional trading volume, which gives an impression of a bullish rally for the upcoming days.

IFCI: This stock is sketching the Flag pattern in daily charts and recorded a considerable margin for the last five sessions. There is a breakout witnessed today with the gap, which indicates the bull’s strength. This stock is settled at Rs.30.8. above the resistance zone in today’s trade.

JPASSOCIAT: This stock reported an exceptional margin in last five sessions and regularly climbing for 4 days. This stock surged by 12.07% and ended at Rs.26 with 5 times increased volume. There could be further bullish trend formation as it is settled above the recent resistance zone.

GMRINFRA: This stock rallied above its resistances zone today surging 10.86% and finished at Rs. 22.45. This stock trading volume increased by 506% on Friday, which indicates the bullish trend formation.  The short-term support is seen around Rs.16.

TATAMOTORS: This stock surged 3.17% intraday and it is listed in top traded counters. Derivative traders were aggressive in adding long positions and Open interest increased by 4.83 %, which indicates the positive breakout. This stock is currently settled at 431.85 above its recent resistance zone.

HDIL:  This stock is heading for a positive breakout as the momentum of the buyers is acknowledged by the unfilled gap. This stock surged by 10.91% and closed at Rs.65.55 and the trading volume spiked by 424% on 29 December 2017.This stock is currently settled above the recent resistance zone and the short term support is around Rs.51.

TCS: This stock is the most active stock in today’s trade and 58% of the trades gone for delivery. Derivative traders were aggressive in adding long positions and Open interest increased by 3.36 %, which indicates the bullish rally. This stock is currently settled above the recent resistance zone.

ANDHRABANK: This stock fell by 1.27% and reported a significant loss in last five sessions with significant volume, which indicates the negative breakout. It is trading below its recent support zone. This stock is settled at Rs58.15. and the near term resistance is seen around Rs.63.

IDEA: This stock surged by 5.62% and settled at Rs.108.15 with 1.5times increased trading volume on 29 December 2017. This stock is heading for bullish trend formation as it is currently settled above the recent resistance zone. The short-term support is seen around Rs.91.

MRF: This stock weakened by 1.55% to close at Rs.72357.05.Derivative traders were aggressive in unwinding long positions and Open interest reduced by 3.01 % which indicates the bearish trend formation. This stock is currently oscillating nearer to its resistance zone of Rs.73387.