With the stake sale, abrdn will hold nil equity shares in HDFC Life, the company said in its filing to exchanges. But HDFC Life shares gained 1.23 percent at Rs 592.35.
Based on the OI percentage, 56 stocks were on the short-covering list. These included Balkrishna Industries, Divis Laboratories, Dabur India, Nestle India, and Britannia Industries.
As long as the Nifty50 holds 18,500-18,300 area, the next upmove after current consolidation towards 18,700-18,800 can't be ruled out in coming sessions, experts say
Birla Corporation shares rallied 7 percent to Rs 1,092, the highest closing level since September 20 last year and formed robust bullish candlestick pattern on the daily charts with significantly higher volumes. The stock has been making higher highs, higher lows for third consecutive session.
An increase in OI along with a price decrease indicates a build-up of short positions. Based on the OI percentage, 63 stocks, including Chambal Fertilizers, IRCTC, Apollo Hospitals Enterprises, Tata Chemicals and Coforge saw a short build-up
ICICI Prudential Mutual Fund through its ICICI Prudential Equity & Debt Fund buys additional 14.95 lakh shares in Kalpataru at an average price of Rs 485 per share
The Nifty50 has crucial support at 18,400-18,300 levels if there is a trend reversal. But on the other side, any continuation in strength can lift index up to 18,700-18,800 levels in coming sessions, say experts
Mahindra Lifespace Developers has formed long bullish candlestick pattern on the daily timeframe with robust volumes and making higher tops, higher bottoms for second straight session. The stock climbed 8.3 percent to Rs 440, the highest closing level since October 12 last year.
Nomura through several funds was the buyer for Gravita shares, at Rs 565 per share.
Based on the OI percentage, 87 stocks, including Astral, Lupin, Indiabulls Housing Finance, Titan Company and National Aluminimum Company, saw long build-ups.
The sentiment and trend remains positive. The Nifty is moving towards 18,700-18,800 and then probably the record high of 18,887, with crucial support at 18,400, say analysts
The 18,350-18,400 levels are expected to act as a strong support zone and if held in the forthcoming week, the Nifty will start moving towards 19,000 levels, according to experts
HDFC AMC has formed healthy bullish candlestick pattern on the daily charts with above average volumes, after Tweezer Bottom candlestick pattern formation in previous session, which is generally a short-term bullish reversal pattern. The stock climbed 5 percent to Rs 1,856 on the NSE.
The short-term outlook remains robust. If the Nifty moves above 18,350, it can rise to 18,600. If the index drops below 18,350, traders should exit long positions, analysts say
Earnings announcements will continue to take centre stage next week, especially in the small and midcap segment with over 1,700 companies declaring their quarterly numbers
The BSE Sensex climbed 772.01 points or 1.25 percent to end at 62,501.69, and the Nifty50 added 295.9 points or 1.62 percent to close at 18,499.30. The Sensex and the Nifty added 1 percent and 0.77 percent so far this month
Foreign institutional investors (FIIs) bought equities worth Rs 3,230.49 crore, while domestic institutional investors (DIIs) bought equities worth Rs 3,482.21 crore this week
Considering the roaring bulls, the next target to watch out for would be 18,700, the high of mid-December, with immediate support of 18,400 mark, experts said.
Zomato shares gained 4.4 percent to settle at Rs 67.30, the highest closing level since December 2 last year, and formed long bullish candlestick pattern on the daily scale with above average volumes. The stock has given a nice breakout for the Mother candle of May 9, which is a positive sign, with trades above all key moving averages.
Based on the OI percentage, 117 stocks were on the short-covering list. These included Tata Communications, Delta Corp, Power Finance Corporation, ICICI Lombard General Insurance Company, and Atul.
As long as the index holds 18,200, the momentum is likely to continue amid ongoing consolidation, with upper resistance at 18,500 mark, experts said.
Mahindra CIE Automotive was also in action, rising 4.7 percent to end at record closing high of Rs 474.3 and formed long bullish candlestick on the daily charts with huge volumes. The stock has broadly maintained higher highs higher lows formation since the end of March.
Based on the OI percentage, 60 stocks were on the short-covering list. These included Alkem Laboratories, IndusInd Bank, United Breweries, Dr Lal PathLabs and Aarti Industries.
If the Nifty50 manages to give a decisive close above 18,400, then further rally can't be ruled out. But dropping below 18,200, which is a near term support, can induce selling pressure as well as consolidation, experts said.
On the monthly charts, it has rallied nearly 30 percent in the current month and formed a strong bullish candlestick pattern with significantly higher volumes