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Last Updated : Sep 26, 2019 09:08 AM IST | Source:

Market Headstart: Nifty likely to open higher; Voltas, Pfizer top buy ideas

Experts expect Nifty to be volatile amid F&O expiry but if the index breaks 11,382, the crucial support level, then the selling could intensify in coming sessions.

Sandip Das @Im_Sandip1

The Indian stock market is expected to open on a positive note on September 26 following strong global cues as US markets closed notching its biggest daily gain in two weeks while the Asian markets also edged higher. Investors shrugged off the news of an impeachment inquiry into President Donald Trump.

Experts expect Nifty to be volatile amid F&O expiry but if the index breaks 11,382, the crucial support level, then the selling could intensify in coming sessions.

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 30 points gain or 0.27 percent. Nifty futures were trading around 11,505 level on the Singaporean Exchange.


Sensex broke the winning streak of the last three consecutive sessions, falling 504 points, or 1.29 percent, to 38,593.52. Only six stocks in the 30- share pack managed to settle in the green.

The Nifty index fell for the second consecutive day, ending the day at 11,440.20, down 148 points or 1.28 percent. This was the second biggest single-day fall this month for the index. Among the 50 stocks in the index, 37 suffered losses.

Rupee dipped 3 paise to close at 71.04 against the US dollar amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased.

Foreign institutional investors (FIIs) sold shares worth Rs 342.4 crore, while domestic institutional investors (DIIs) also sold shares of worth Rs 762.48 crore in the Indian equity market on September 25, as per provisional data available on the NSE.

Stocks in news:

DHFL: The company defaulted in interest and prinicipal payment on NCDs due on September 20.

GSK Pharma: Regulatory authorities have detected genotoxic nitrosamine NOMA in ranitidine products.

AstraZeneca Pharma: The company has received import and market permission in Form 45 (marketing authorization) from the Drugs Controller General of India.

Dredging Corporation of India: Brickwork Ratings has assigned "BWR AA+ (SO)" with "stable" outlook on the company's tax free bonds.

Adani Enterprises: The company has incorporated Adani Mangalore International Airport.

Technical Recommendations:

We spoke to Bonanza Portfolio and here’s what he has to recommend:

Voltas: Buy | LTP: Rs 667.45 | Target price: Rs 721 | Stop loss: Rs 634 | Upside: 8%

Pfizer: Buy | LTP: Rs 3,322.10 | Target price: Rs 3,585 | Stop loss: Rs 3,154 | Upside: 8%

Zee Entertainment Enterprises: Sell | LTP: Rs 273.50 | Target price: Rs 254.50 | Stop loss: Rs 284.50 | Downside: 7%

(Disclaimer: The views and investment tips expressed by investment expert on are his own and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.)

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First Published on Sep 26, 2019 08:35 am
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