Indian markets closed in the red mark in Friday’s business. The BSE Sensex slipped 143 points to close at 58,644.82. Similarly, Nifty also closed at the level of 17,516, down 0.25 per cent.
Looking at today’s business, the market is seeing pressure on the first day of the week. Nifty is trading around 17300. At the same time, the Sensex is trading at the level of 57,899.02, down 729.81 points. In today’s business, except PSU banks, metal and power sectors, all sectors are trading in the red mark. Auto, FMCG, IT, Healthcare, Capital Goods indices declined by about 1 per cent.
Nifty Bank and Midcap indices have also fallen more than the fourth quarter. Auto, Pharma and FMCG are putting pressure on the stock market. In this fall of the market, the sweetness of the sugar stocks has increased. UGAR and UTTAM SUGAR ran up to 20%. KM, SAKTHI and MAWANA SUGAR have also gained 5 to 10 percent.
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Market experts say that there may be volatility in the market this week. This week, domestic factors like RBI policy and quarterly results of companies can show their impact on the market.
Deepak Jasani of HDFC Securities Says that last week Nifty managed to close with a gain of 2.42 per cent after falling for 2 consecutive weeks. However, on the daily charts, there was pressure due to selling of FIPI and the previous trading day closed in the red mark. Nifty is not declining much, given that it is expected that soon it may see a correction. During the next few trading days, Nifty can be seen in the range of 17373-17879.
Today’s Intraday Calls which can make huge profits
Intraday call from Sumeet Bagadiya of Choice Broking
Sun Pharma: Buy current level, target Rs 930, stop loss Rs 880
State Bank of India: Buy Target Rs 580, Stop Loss Rs 525
Intraday Call by Anuj Gupta of IIFL Securities
Steel Authority of India: Buy, target Rs 112, stop loss Rs 99
Raymond: Buy, target Rs 820, stop loss Rs 758
Intraday pics of Avinash Gorakshakar of Profitmart Securities
Vedanta: Buy, target Rs 370, stop loss Rs 348
Marico: Buy, target Rs 528, stop loss Rs 502
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