Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

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8:22 AM

BUY GODREJ INDS

CMP: Rs 548.05

TARGET: Rs 590

STOP LOSS: Rs 525

 

The stock has corrected from the peak of 643 and bottom out at 532 levels and is consolidating at these levels currently. The level of 530 -535 appears to be a strong support base and we anticipate a bounce back from here on and can scale upto 580-585 levels.

 

The RSI has hit the oversold zone and is indicating a trend reversal to signal a buy. With good volume participation, we recommend a buy in this stock for an upside target of 590 keeping a stop loss of 525.

 

CLICK HERE FOR MORE CALLS FROM PRABHUDAS LILLADHER

8:21 AM

Today's picks: From Adani Ports to IOC, hot stocks to watch on Tuesday

 

Bank Nifty Current: 25058 (fut: 25072) Target: NA Stop-long positions at 24,970. Stop-short positions at 25,200. Big moves could go till 25,400, 24,725. Trend remains down and short-covering will hit resistance at 25,250 READ MORE

8:20 AM

PSBs' stocks continue to reel after PNB fraud case; drop as much as 10%

 

State-owned banks continued to reel under the multi-billion fraud at Punjab National Bank (PNB) with Nifty PSU Bank index dropping 2.5% to a four-month low. The gauge for the performance of public sector banks (PSBs) has dropped 10% since Monday when the Rs 114-billion fraud at the country's second-largest PSB came to light. Shares of at least a dozen PSBs have declined 10% or more in the past one week, with PNB bearing the maximum brunt. READ MORE

8:19 AM

Markets on Monday

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,774.66	-236.10	-0.69
S&P BSE SENSEX 50	10,824.48	-80.39	-0.74
S&P BSE SENSEX Next 50	33,844.52	-419.02	-1.22
S&P BSE 100	10,749.63	-88.21	-0.81
S&P BSE Bharat 22 Index	3,580.67	-44.11	-1.22

(Source: BSE)

8:13 AM

SGX Nifty

SGX Nifty was trading at 10,345, down 0.3% from the previous close.

 

8:11 AM

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