Indices break 4-day losing streak, Nifty ends above 12,100; Vodafone Idea up 39%

Taking Stock: Bulls regain control after 4-days of pain, Nifty reclaims 12,100 levels

Traders can make use of dip to create fresh longs with a stop below 12030 levels on a closing basis and look for an initial target of 12178.... Read More

Markets are currently dancing to the global tunes and we do not see this scenario changing anytime soon. Traders should keep a close watch on the world markets for further cues. Since we’re seeing a mixed trend on the sectoral front, the focus should be on stock selection and trade management.

Traders need to keep a tab on 12,100-12,080. Breach of this support zone would be an indication of a fresh move down. On the other hand, next hurdle zone is placed near 12,175-12,200.

Index has showed a V shape recovery after touching good support zone of 11900, now immediate support for index is coming near 12070-12000 zone. If it managed to hold above said levels we may see current momentum to continue further towards immediate hurdle of 12170-12230 zone. Nifty bank closed a day at 30838 with gains of 276 points; support for Nifty Bank is coming near 30600-30300 and resistance is coming near 31000-31200 zone.

Positive cues were witnessed in the market on hopes that the government is planning to consider some relief measures for the ailing telecom players. On the global front, there is a decrease in new virus cases and close to 80% of the Chinese enterprises are back to work indicating a possible economic recovery.

| Cabinet approved Rs 4,460 crore for dairy farming and also approved setting up the 22nd law commission.

Some unwinding in option positions indicated increased volatility in the near term. Going ahead, we expect the index to conquer 12,450-12,500 levels. Banking stocks look attractive at current levels while Metal stocks can be accumulated gradually. For investors, buying on dips is advisable while traders can do selective buying in the banking space.

: Benchmark indices broke the four day losing streak and ended near day's high on February 19 with Nifty ended above 12,100 level.

The Sensex was up 428.62 points or 1.05% at 41,323, while Nifty was up 137.80 points or 1.15% at 12,130.30. About 1499 shares have advanced, 982 shares declined, and 173 shares are unchanged.

Bharti Infratel, Grasim Industries, Coal India, HUL and Zee Entertainment were among major gainers on the Nifty, while losers were Tata Motors, JSW Steel, Sun Pharma, TCS and Bharti Airtel.

Among sectors, pharma, metal, infra, FMCG and Energy rose 1 percent each. BSE Midcap and Smallcap indices ended with 1.3 percent gain.

aafaq Islamic Finance and Infosys Finacle, a wholly-owned subsidiary of Infosys announced the go-live of the Finacle Core, Islamic Banking and Payments solutions to power its operations.

Nelco has entered into a partnership with Panasonic Avionics Corporation for offering Aero In-Flight Communication (IFC) services in India. Nelco is the first Indian company to provide this service in the country, marking the beginning of a new era of WiFi on aircrafts in Indian skies.

Sensex zooms 300 points, Nifty hovers around 12,100; 4 factors that lifted sentiment

The recovery that started in the late trade in the previous session continued February 19 as benchmark indices and broader markets gained a percent each amid volatility.... Read More

Fitch Ratings has assigned Muthoot Finance proposed US dollar-denominated senior secured notes an expected rating of BB+(EXP). The notes will be issued under company's USD 2 billion medium-term note programme (BB+).