SGX Nifty indicates positive note for Indian indices
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The benchmark Indices are expected to open on a positive note as indicated by trends on SGX Nifty. US Indices closed with gains as Dow Jones hits a fresh new all-time high and Asian markets also opened stronger with Nikkei trading 2 percent higher. Key companies announcing their quarterly results today includes Adani Power, Coforge, Hero MotoCorp, Adani Transmission, P&G Health, Bluestar, Praj Industries and Tata Consumer. Immediate support and resistance for Nifty 50 are 14,500 and 14,800 respectively, said Mohit Nigam, Head-PMS Securities.
At 09:02 AM, the Sensex was up 488.99 points or 1 percent at 49166.54, and the Nifty was up 54 points or 0.37 percent at 14671.90.
Markets open on positive note: Sensex up 172 points, Nifty above 14,650
Kunal Patil/ PTI
The stock markets opened on a positive note on Thursday. The benchmark indices were in the green. Sensex rose over 172 points in early trade on Thursday, tracking gains in index majors HDFC twins, ITC and Bajaj Finance amid largely positive cues from Asian peers.
The 30-share BSE index was trading 174.54 points or 0.36 percent higher at 48,852.09 in initial deals. NSE Nifty advanced 69.05 points or 0.47 percent to 14,686.90.
Bajaj Auto was the top gainer in the Sensex pack, gaining over 2 percent, followed by Bajaj Finance, ITC, HDFC, Titan, Maruti and M&M.
Yoganand D
BL Research Bureau |
Updated on
December 31, 2020
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Investors with a short-term horizon can buy Century Textiles & Industries at current levels. The stock had met with a key resistance at ₹380 in mid-September and witnessed a short-term downtrend until it found support at around ₹300 in late October. Subsequently, it changed direction from the long-term base level of ₹300 and continued to trend upwards.
However, the stock encountered resistance at ₹400 in early December and experienced a corrective decline to ₹360. Last week, the stock bounced up from ₹360 and surpassed the 21-day moving average initially. On Thursday, the stock surged almost 4 per cent with good volume, breaking above the barrier at ₹400.