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The market's mood is expected to remain upbeat, albeit highly volatile, as it approaches the exit poll as well as the general election results, according to experts.
Based on the OI percentage, 82 stocks saw long unwinding, which included Abbott India, Havells India, Ipca Laboratories, Oberoi Realty, and Aditya Birla Fashion & Retail.
Aditya Agarwala of Invest4edu discusses market insights including key levels for Nifty and Bank Nifty. He anticipates resistance at 50,000 on Bank Nifty and a potential new all-time high for Nifty around 23,000. Aurobindo Pharma is one of his picks. At current levels, one can initiate fresh long in the stock for a target of Rs 1,300 on the upside with a stop loss at Rs 1,120 on the downside. The second stock is Astral. This is one stock which has clearly bucked the trend and has been making higher highs and higher lows.
Based on the OI percentage, 132 stocks were on the short-covering list that included Hindustan Copper, Voltas, Bharti Airtel, Muthoot Finance, and Eicher Motors.
A short build-up was seen in 100 stocks, including Exide Industries, Indraprastha Gas, Dr Reddy's Laboratories, Titan Company, and Berger Paints.