Global sentiments will drive the markets
Markets cheered the monetary policy and ended at a fresh high today. RBI’s decision to keep the policy rates unchanged is well taken by the markets.
image for illustrative purpose
Mumbai: Markets cheered the monetary policy and ended at a fresh high today. RBI's decision to keep the policy rates unchanged is well taken by the markets.
"Largely the market was driven by the growth momentum in heavyweight index stocks in the banking sector. Current rally is also driven by momentum stocks like metal and metal commodities," says Deven Choksey, MD, KR Choksey firm.
Banking, telecom and FMCG were the best performers. As the volatility remains high, the markets will be driven by global sentiments on vaccine availability and improvement in global economy," said Ashis Biswas, head of technical research, CapitalVia Global Research.
Top gainers for the day are: ICICI Bank (+4.20%), Ultracemo (+4.10%), Sunpharma U(+3.80%), Bharti AirTel (+2.91 %) and Hind Unilever (+2.85%).
Stock picks
Bata India
Above 1568 with a target of 1600 and stop loss of 1540. It has formed an ascending triangle.
Apollo Hospital
Above 2450 with a target of 2505 and stop loss of 2399. It has a support of upward trending line and has reversed from the same.
Biocon
Above 444 with a target of 460 and stop loss of 427. It has formed an ascending triangle.
Mindtree
Above 1454 with a target of 1470 and stop loss of 1440. It has a support of 21 and 55 MA.
McDowell-N
Above 582 with a target of 595 and stop loss of 572.50. It is in an upward moving. (Source-CapitalVia)
