The market failed to extend gains for the fourth consecutive session Friday as the Nifty ended flat with a negative bias but managed to hold the 8400-mark. Technology stocks dragged the market lower but index heavyweights ITC, HDFC and Reliance Industries capped the upside. Fall in December CPI inflation and unexpected growth in November factory data despite currency demonetisation also supported the market. The Sensex was down 9.10 points at 27238.06 on profit booking after a 317-point swing intraday. The Nifty fell 6.85 points at 8400.35 after hitting an intraday high of 8461.05 and low of 8373.15. Meanwhile, India’s index of industrial production jumped to a 13-month high of 5.7 percent in November 2016 against a contraction of 3.8 percent in a year-ago month. Inflation based on the consumer price index (CPI) slipped to a 25-month low of 3.41 percent in December 2016 against 3.63 percent in previous month.
FUTURE CALL
BUY DHFL FUTURE ABOVE 273.75 TARGETS275.75, 277.75, 279.75 STOP LOSS 269.75
BUY NMDC FUTURE ABOVE 145.5 TARGETS 147.5, 149.5, 151.5 STOP LOSS 141.5
BUY RECLTD FUTURE ABOVE 140 TARGETS 141.5, 143,144.5 STOP LOSS 137
BUY UNIONBANK FUTURE ABOVE 135 TARGETS 136.5, 138,139.5 STOP LOSS 132
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