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Thursday, October 20, 2016

Equity Tips

INDIAN BENCHMARKS: SENSEX GAINS 145 POINTS, NIFTY CLOSED NEAR 8700 @ 8699.40

Equity benchmarks recouped previous day's losses on Thursday with the Nifty reclaiming 8700 level intraday but failed to hold the same level in late trade. Banking & financials, infra and oil & gas stocks aided the momentum but the sell-off in Infosys, Tata Motors, HDFC Bank and ITC limited upside. Positive Asian cues also lifted the market sentiment.The 30-share BSE Sensex was up 145.47 points at 28129.84, and the 50-share NSE Nifty gained 40.30 points at 8699.40 after hitting an intraday high of 8727.

The market breadth continued to be positive as about 1589 shares advanced against 1231 declining shares on the BSE.

HEADLINES OF THE DAY
LIC Housing Q2 net profit beat estimates.
Yes Bank reports healthy Q2 performance; net profit up 31% (YoY).
L&T Construction Signs Contract with Maharashtra Government.

The crucial resistance for Nifty spot is now seen at 8745 and above this 8810 Support for the immediate term is now placed at 8630 and next support will be 8550.

UPCOMING RESULTS: CAIRN, HCLTECH, UNICHEMFEB, BHAGERIA, MINDTREE, WIPRO, IBULHSGFIN, ACC, VGUARD, EQUITAS, TATASPONGE

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