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Nifty likely to start in a negative bias as per SGX suggested and Banknifty also weakening from last trading session and intraday trading after a small gap down nifty manages to recover but last hour again fall.
Wipro board approved a proposal to buyback 23.75 crore shares at Rs.400 per share which is 6.7% more premium than its last traded price on Tuesday 375.95 on NSE, where aggregate amount shouldn’t exceed Rs.9500 crore.
The previous trading day we witness more profit booking in Banking, Automobile, Media, Oil and Gas and telecom stocks.
Although it seems nifty getting support from Reliance and IT stocks but the rest of the packs drag Market last hours, and we saw some significant selling in all other counters.
Stocks that Drag nifty on Tuesday
Cipla,Titan,AdaniPorts,Divislab etc.
Stocks that keep nifty up Tuesday
The stocks for which nifty still manages to close flat from days low are
Hcltech, Infy, Kotak bank, Reliance etc.
Intraday Trading Prediction for Wednesday
From here we are expecting some more profit booking in Intraday Trading and the Market, and we are expecting a sell on rising type market.
Traders should look to take both way stock specific trades with a negative bias on Market.
Kindly read our previous post on the same topic.
From here it is advisable not to overtrade or if market drag a little you will see a major profit booking in all the counters.
Have a Profitable day.
| Securities in Ban For Trade Date 14-OCT-2020: | ||
| 1 | ADANI ENT | |
| 2 | BHEL | |
| 3 | CANBK | |
| 4 | ESCORTS | |
| 5 | IDEA | |
| 6 | JINDAL STEEL | |
| 7 | SAIL |
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Educational purposes only. Before taking any investment
Decisions, consult with your financial advisors.
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