Nifty hovers around 8600; Intraday Trading Calls

By | 31 January 2017

Equity benchmarks as well as broader markets remained under pressure as investors maintained cautious stance ahead of Economic Survey and Union Budget. The Sensex trading down 107 points at 27742 and the Nifty felled 43 points to 8589. The broader markets also slipped 0.3 percent as about 980 shares declined against 486 advancing shares on the exchange.

Finance Minister Arun Jaitley will table the Economic Survey in Parliament today. It is an official report on the economy and will set the tone for the Union Budget 2017-18, which will be presented on Wednesday.

Asian Market Update: Japan’s index Nikkei 225 declined 295 points to 19073, Hong Kong’s index Hang Seng dropped 13 points to 23360 while China’s index Shanghai Composite gained 9 points at 3159.

Intraday Trading Tips

Buy V-Guard Industries Ltd. at above: 203.06 Targets: 206.53 – 203.00 – 202.45 – 200.45 Stop loss : 199.51

Sell Infosys Ltd at below: 930.25 Targets: 933.20 – 937.35 – 936.85 – 935.45 Stop loss : 937.89

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