Buy and sell calls by Religare Securities for today's trade

Outlook on GAIL (India), Allahabad Bank and Tata Communications

Nifty outlook:

Nifty gained over half a percent and re-tested 10,000 after weeks of consolidation. It opened gap-up and gradually moved higher, tracking firm global markets and supportive local cues. The recently concluded GST Council meet boosted the sentiment as the members decided to cut rate of over 40 articles of mass consumption. On sectoral front, private banking counters performed exceptionally well while others traded mixed.

We suggest continuing with the stock specific trading approach and see how Nifty will behave around 10,000. Private banks, NBFCs and auto are performing in line with our view and likely to carry this momentum ahead