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Nifty extends gains, Sensex rises 250 pts; Infosys, HDFC twins lead | Trade Nivesh Investment



Benchmark indices extended gains in morning driven by index heavyweights like Infosys, HDFC twins and Reliance Industries.
The 30-share BSE Sensex was up 253.58 points or 0.74 percent at 34,336.29 and the 50-share NSE Nifty rose 71.60 points to 10,548.30.
The broader markets also participated in the rally, with the Nifty Midcap rising 0.77 percent. About four shares advanced for every share falling on the .BSE.
Technical Outlook: Rohit Singre of Bonanza Portfolio said, "If Nifty manages to hold 10,270 levels, we may expect the index to consolidate. The immediate and strong hurdle for Nifty is placed around 10620, and any close above the same will lead to strong short covering in the index."
is placed at 10000 PE followed by at 10500 PE so 10,000 will act as a strong support in the month of February and on the higher side 11500 CE has highest open interest followed by 11000 CE.
He expects volatility to extend further and one need to trade with strict stop losses as it is a buy on the dip and sell on rising market for near term.
Currently, the index has strong resistance at 10620. Traders can initiate shorts on every rise with keeping a stop loss above 10620 and immediate support formed near 10270 so these level can be used as buying stop loss on the downside.
Gati fell 3 percent after net profit in Q3 slipped 26.7 percent year-on-year to Rs 4.8 crore and operating profit declined 21 percent to Rs 24.08 crore.
Operating profit margin contracted to 5.4 percent from 7.2 percent while revenue grew by 5.6 percent to Rs 448.5 crore versus Rs 424.8 crore YoY.
Aurobindo Pharma said its fiscal third-quarter profit rose 2.8 percent to Rs 595 crore, helped by higher sales of generic drugs in US and Europe markets.
The company posted a net profit of Rs 579 crore in the same period previous year. Total revenue rose 11.2 percent to Rs 4369.2 cr ...

News Release: Nifty extends gains, Sensex rises 250 pts; Infosys, HDFC twins lead | Trade Nivesh Investment
Submitted on: February 08, 2018 07:01:12 AM
Submitted by: trade nivesh
On behalf of: tradeniveshinvestment.blogspot.in/2018/02/benchmark-indices-extended-gains-in.html
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