On November 10, the market was seen working in a limited range. At the end of trading, it closed with a slight decline. Yesterday FMCG, IT and Banking stocks had put pressure on the market but Nifty managed to stay above 18000. Nifty closed 27 points lower in yesterday’s trade. On the other hand, the Sensex closed around 60,350 with a fall of about 80 points.
Like Sensex-Nifty, there was weakness in small-medium stocks yesterday. The Nifty Midcap index closed down 0.44 per cent. On the other hand, the smallcap index closed down 0,09 percent.
MCX was in action in yesterday’s trade. Yesterday, the stock closed with a gain of 5.21 per cent at 1,934.55, while Indiamart has been the biggest gainer of the F&O segment and closed at 7,597.35, up 5.33 per cent.
KPIT Tech also saw strong action in yesterday’s trade and set a new high of Rs 410 in intraday before closing at 399.60 level with a gain of 7 per cent. Similarly, there was strong buying in HEG yesterday and it closed at 2252.25 with a gain of 9.89 percent.
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Let’s know what is the opinion of Gaurav Sharma of Globe Capital Markets on these stocks
MCX- Gaurav Sharma has buy advice on this stock with a stop loss of Rs 1600 for target of Rs 2100-2200.
IndiaMART InterMESH- Gaurav Sharma is of the opinion that this stock is looking very close to its important support of Rs 6,850. In such a situation, positional traders in this stock are advised to buy slowly. If this stock sustains above Rs 8000, then it may see 9,000-9,500 levels in the coming weeks.
KPIT Technologies- Gaurav Sharma is of the opinion that positional traders can buy more on this stock in the fall. In the short to medium term, the stock may see further upside. While buying the stock, put a stop loss of Rs 360.
HEDGE- After a consolidation in this stock, a breakout has been seen again. Now on the upside, it may face resistance around Rs 2600. Short term traders must put a stop loss of below Rs 1950 in this stock.
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