Daily stock market analysis for 29 Dec

NIFTY fell for the second consecutive day amid uninspiring global markets. The 50-share NSE index NIFTY fell 0.12% to close at 10,478 on F&O expiry day ahead of year-end.  For the most part of the day, the wider NIFTY traded in narrowband before ending lower for the second straight session as investors worried of government decision to increase its gross borrowings from the market above the budgeted amount.

European markets were flat after Asian markets finished mostly higher on Thursday as economic data from the region and in the U.S. said to be boosted investors confidence in some markets.

Among NSE indices NIFTY REALTY and NIFTY METAL outperformed as the top sectoral gainers surging 3% & 2% respectively whereas NIFTY PSU BANK fell down 1.94% along with NIFTY PHARMA as a top sectoral loser.

From the NIFTY 50 basket of shares HINDALCO, UPL and VEDL excelled as top gainers while IOC, SBIN, and BPCL were the top losers.

Top stocks to trade tomorrow last day for 2017.

RELINFRA: This stock gained by 3.99% and finished at Rs. 555.05 recording a considerable margin on the weekly basis, this stock trading volume rose by 316% at last trading day, indicating for bullish trend formation. This stock is currently settled above the recent resistance zone and the short term support is around Rs.431.

JPASSOCIAT: This stock surged by 8.67% and to close at Rs.23.2 with 338% inflated trading volume. Meanwhile, it secured considerable gains in last five sessions and regularly rising for 3 days. This stock is likely to witness positive breakout. This stock is currently settled above the recent resistance zone.

GAIL: This stock witnessed Star pattern on daily chart. This stock volume is spiked by 143% on 28 December 2017 on that surprisingly 71% of the trades gone for delivery signaling for bearish reversal. This stock is currently settled above the recent resistance zone. We see short-term support around Rs.453.

DLF: This stock increased by 6.24% and settled at Rs.263.8 with 174% inflated trading volume. Though most of the trades are settled intraday, there is an evidence of bullish breakout as it is steadily advancing. This stock is currently settled above the recent resistance zone and the short term support is around Rs.222.

RCOM: This stock surged by 7.67% and ended at Rs.30.9. This stock trading volume inflated by 750% on 28 December 2017, but largely the volumes are intraday trades. This stock is regularly rising for 3 days and maintained an exceptional margin over recent days indicating the further bullish trend formation. This stock is currently settled above the recent resistance zone.

JINDALSTEL: This stock surged by 4.01% and ended at Rs.202.45. This stock trading volume increased by 126 percent on 28 December 2017, but a majority of them is settled intraday. There could be bullish breakout as it is steadily heading higher levels. This stock is currently settled above the recent resistance zone.

RPOWER: This stock increased by 1.35% and settled at Rs.45.10 with 266% inflated trading volume. Though numerous trades are intraday in nature this stock is continuously climbing for 7 days suggesting for a positive breakout. This stock is currently settled above the recent resistance zone and the short term support is around RS.35.