Markets Continue Upward Trend

The Indian markets opened on a positive note today as a big rally was seen in yesterday’s session. The global markets were trading on a mixed note. The Nifty opened with a positive bias of 32 points at 6180 and Sensex was up by 85 points at 20,295. Both the indices opened up in the range of 0.52%-0.41%.

The advance-decline ratio is in on the positive side in the morning session. On the NSE, 745 shares are trading in gains and 591 shares are down.

Top 5 NSE Gainers: Dr Reddy’s Labs is the top NSE gainer so far, up by 3.5%, followed by JP Associates, Grasim, Cipla and IDFC. 

Top 5 NSE Losers: Jindal Steel is the top loser this morning, trading down by 0.69%, followed by ITC, TCS, Tata Motors, and NMDC.

Seven out of the 13 sectors are trading in the green zone. Oil & Gas and Banks is the top gainer, up by 188 points and 158 points, Heathcare and Capital Goods are also gainers by 151 points and 97 points, Mid-Cap up by 47, gaining some strength in the morning trading session. 

On the global front, the Asian shares are trading on a mixed note. The Nikkei market is the top loser in today’s session, down by 168 points, Hang Seng is up by 32 points. However, Taiwan, KOSPI, Shanghai is trading on a positive note.

Buzzers: Dr Reddy’s Labs opened with a positive sentiment and broke its stiff resistance in the morning session at Rs 2140. The stock made a new high at Rs 2144 and if it manages to break this level, we will see an up-move up to Rs 2150 in further trading sessions.

Cipla opened with a positive move and broke a stiff resistance at Rs 420. If it manages to hold this position, we will see a further move up to Rs 430.  

The 6120-6140 levels will be a lakshman rekha for the Nifty. A major hurdle will be faced at 6200. If the Nifty breaks and trades above these resistance levels, we may see a further up-move.