Bulls Take Charge

The Indian markets opened on a positive note after the Asian markets traded in a green zone in the morning. The Nifty opened with a positive bias of 45 points at 5909 and Sensex opened at 19,550, up by 144 points. Both the indices opened up in the range of 0.77%-0.74%.

The advance-decline ratio is on a positive side in the morning trading session. On the NSE, 920 shares are trading in green and 360 shares are trading in red. 

Top 5 NSE Gainers: BPCL is the top gainer on NSE, trading up by 2.79%, followed by Jindal Steel, Hero MotoCorp, ONGC, and HDFC.

Top 5 NSE Losers: DLF is the top loser trading down by 1.1%, followed by Infosys, Dr Reddy’s Labs, Tata Motors, TCS.

All sectors are trading in green apart from IT. Banks is up by 114 points, Oil & Gas is up by 129 points, Metals are up by 87 points and FMCG is up by 46 points. 

On the global front, the Asian shares are trading in a positive mood. Hang Seng is positive by 262 points, Taiwan Weighted is up by 52 points and Shanghai Composite is down by 4 points and Nikkei 225 market is up by 248 points. 

Buzzers: BPCL is trading up by 2.89% at Rs 401. The stock is gaining good volumes and holds a positive sentiment from yesterday’s closing session. It faces a big hurdle at Rs 410, after which we could see further moves.

Jindal Steel saw a good momentum in the last few trading days. The stock opened on a positive note, higher by 2.5% and is trading at Rs 356. It has a good support at Rs 350. We can see a good up-move from this level.

The levels of 5880-5860 will be the limit for Nifty. Its final support is on 5860. If it breaks and closes below this level, we may see a further downfall after this level.