Published on 23/11/2017 12:05:49 PM
* Nifty managed to recover post an initial decline on back of buying in selected frontline majors and finally, ended in green with the increase of 15 points at 10,342 level. Among the Nifty stocks 23 stocks advanced and 27 declined during the day.
* Sectorally, PSU Bank and Media gained by 1.3% and 2.6% respectively, while profit booking was witnessed in Metal and Pharma to decline by 0.7% each.
* Broader market indices remained flat with NIFTY 100,200 and 500 to close up by 0.1% average while Mid-Cap index ended flat, Small-Cap outperformed the benchmark Nifty with the gain of 0.5%.
* Nifty November futures ended with 16 points of premium at 10,358 mark, while on the other hand, Bank Nifty November future ended with the premium of 26 points at 25,793 level.
* We believe that Nifty will cross the all-time-high provided it stays firm above 10,300 level, as Nifty 10,300 PE has seen highest OI (i.e. 54 Lac shares). However on the higher side 10,500 capping the upside, as Nifty 10,500 CE has 61 Lac shares OI.
Sectoral Activity: Amongst sectoral index, PSU Bank and Media remained in focus with positive momentum.
Stock Activity: Canara Bank and ZEEL observed build up in long position.
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