How was the NIFTY today?

NIFTY ended flat ahead of January derivatives expiry day. The 50-share NSE index NIFTY ended flat by 0.02% to finish at record closing high of 11086.00 on Wednesday. After testing New 11100 level for the first time ever, NSE NIFTY erased gains contributed by the IT stocks as investors eyed on profit-booking. Though volatility witnessed for the most part of the day, NIFTY extended its gains for the sixth straight session boosted by the speculators who covered their short positions ahead of the January derivatives expiry on Thursday.

Looking overseas, European markets trading mixed to lower taking cues from the Asian markets which closed mixed on Wednesday. The investor’s sentiment dampened after U.S. dollar fell further from a three-year low.

Among sector gauges compiled by NSE, NIFTY PSU BANK, NIFTY IT, and NIFTY PHARMA are the top sectoral gainers while NIFTY METAL and NIFTY PVT BANK are the top sectoral losers.

From the NIFTY 50 basket of shares, SBIN, GAIL, TECHM, and LUPIN outperformed as top gainers while BHARTIARTL, TATAMOTORS, HINDALCO, and ICICIBANK are the top losers.

Top stocks to watch on Thursday 25 Jan

BHARTIARTL: This stock plunged by 6.62% to 3 times the increased trading volume at last session. Derivative traders were aggressive in adding short positions and Open interest gained by 14.34%. The aggressive nature of bears is recognized by the unfilled gap witnessed in the daily chart. This stock trading below its recent support zone at Rs.459.5.

NIITTECH: This stock registered an exceptional margin on the weekly basis and continuously advancing for 3 days. This stock surged by 9.97% on the back of 5 times the increased trading volume on Wednesday. Though a majority of them are settled intraday this stock gives an impression of bullish trend formation.

TATAMOTORS: This stock is one among the top traded stocks as 59% of the trades are taken for delivery on 24-01-2018. Derivative traders were aggressive in adding short positions and the Open interest surged by 5.7%. This stock is trading below its recent support zone at Rs.403.6 and the near term resistance is seen around Rs.442.

PNB: This stock reported a considerable percent on the weekly basis as it surged by 4.76% on Wednesday. Though numerous trades were an intraday trade, this stock trading volume hiked by 270%. This stock is currently settled above the recent resistance zone at Rs.194.65 and the short term support is around Rs.164.

GODREJCP: This stock volume hiked by 1.5 times with 68% of the trades is taken for delivery at last session. There could be positive breakout as this stock is frequently rising for 5 days. This stock is currently settled above the recent resistance zone and the short term support is around Rs.975.

MCDOWELL-N: This stock plunged by 7.01% and to close at Rs.3487.85 with 4 times the increased trading volume. The strength of the sellers is indicated by the today’s gap appeared in the daily chart, indicating for the bearish trend. This stock is trading below its recent support zone and the near term resistance is seen around Rs.3950.

AMARAJABAT: This stock surged by 6.83% to 2.5 times the increase in trading volume. Derivative traders were aggressive in adding long positions and Open interest increased by 20.04%. This stock is currently settled above the recent resistance zone at Rs.875.6 and the short term support around Rs.818.

IBULHSGFIN: This stock witnessed Bearish Engulfing pattern on a daily chart and listed in top traded counters. The technical indicator RSI indicates overbought scenario as it is frequently climbing for 5 days. This stock is currently settled above the recent resistance zone and the short term support around Rs.1183.

KPIT: This stock strengthened by 3.34% and closed at Rs.210.25 with 2 times the increased trading volume at last trading session. Though a majority of trades are intraday, this signals positive breakout. This stock is currently settled above the recent resistance zone as it is frequently heading higher levels for 3 days.

MINDTREE: This stock witnessed hanging man pattern on daily chart on the back of 2 times the inflated trading volume. There could be selling pressure as it is frequently heading higher levels for 5 days. This stock is currently settled above the recent resistance zone and the short term support is around Rs.595.