Nifty Energy jumps 2% led by NTPC, IOC; Tata Motors can return 2% in the short term

The bulls were in control as the Indian markets extended its intraday gains with the Nifty jumping over 200 points at 10,429 while the Sensex was up 636 points.

The Nifty Auto index gained 1.38 percent led  by Tata Motors which jumped 3 percent while Hero MotoCorp was up 2.6 percent. Amara Raja Batteries and Exide Industries were the other top gainers.

The Nifty Energy index gained 2 percent as stocks like NTPC added 3.4 percent closely followed by Indian Oil Corporation which was up 3.3 percent. HPCL and Oil & Natural Gas Corporation were the other performing stocks.

According to research firm Stewart & Mackertich, Tata Motors can be picked up as a BTST trade  with target at Rs 359 and stop loss below Rs 347, thereby yielding a return of 2 percent in the short term.