Nifty Above 19,300; Auto To Be In Focus, Jio Fin To Move Out Today
For now, Nifty is above 19,300, up by 64 points. Nifty banks and financial services are hovering upon 40,000 and 19,500.
The most active today are HDFC, Tata steel, Jiofin, Adani enterprises and Reliance. The stocks to look at are torrent Pharma, Cipla, Gujarat gas, Kama Holdings, Remedium Lifecare ORD, Hindustan Aeronautics, Dhanalakshmi Roto Spinners.
JioFin, the financial arm of Reliance would be in focus today as it would be removed from the BSE indices today. Sensex now stands at 65, 058.02. Both the indices are volatile.
Metals, oil and gas, realty, capital goods, all are in green. Auto stocks would be in focus as the August sales data would be out soon. PVR has called August the best month with money control reporting on this and Sharekhan bullish on PVR Inox.
Thursday ended with a low, with a bear candle. Nifty was at 19,252, at 94 points low, the BSE barometer was also down by 255 points. At the Nifty banks, the support levels have to be defended, 44,000-43,800, or could end up lower.
Market analysts seem not very optimistic on the Nifty movements. On the lower side, the support level for Nifty is 19,200, a possibility of Nifty going below the support level, cannot be ruled over with the current performance, some analysts expect this.
