In A Choppy Session, Bankex Outperform

The Indian markets witnessed a choppy trend in today’s trading session. Banking stocks outperformed in today’s trade, as stocks like Axis Bank, ICICI Bank, Canara Bank and Bank Of India surgee around than 2.5 per cent each. This was followed by Auto and Capital Goods index, that closed in the positive territory, and were up by around 300 points. The Nifty closed above major resistance level and was up by 108 points in today’s trade and closed at 8235 while Sensex was up by 373 point in today’s trading session and closed at 27251.

The advance-decline ratio on NSE was on a positive side, as the day ended with 1642 shares in green and 1063 shares in the red zone.

Top Nifty Gainers: Axis Bank closed the day higher by 4.91%, followed by ICICI Bank, GAIL, Ambuja Cement and IDFC.

Top Nifty Losers: Lupin closed the day lower by 3.36%, followed by Hindalco, Bharti Airtel, NTPC and Zee Entertain.

All of the sectoral indices closed in positive note in today’s trade. Bankex stocks witnessed handsome rally and broke all the technical hurdles and was up by 534 points. Followed by Auto and Capital Goods indexes also were up around 300 points each. While Consumer Durables, Oil & Gas, Mid-Caps and Small-Caps also closed in green territory.

The Asian markets continued with positive scenario. The Nikkei market saw good up move of 139 points. This was followed by Taiwan index and Straits Times market that saw nominal positive up moves, and were up by 43 points and 10 points respectively. However Hang Seng market was nominally down by 157 points.   

Buzzer: ICICI Bank was up by more than 3% on the bourses today and closed up at the technical level of around Rs 315. If the stock opens above this level, it may touch Rs 325/330 mark in the next few trading sessions.

The Nifty Future has given bullish crossover after its broke 8250 level in today’s intraday chart. Indicating more up move, if its open above this level.