Asian market rose in early trade taking cues from positive Global market and US earning report. Indian stock market opened positive, the NSE bench mark Nifty was up 0.02% and it is trading in range of 60015.15- 5971.30 lead by gains in Auto, Energy, FMCG, Metal, and Bank. Infrastructure stocks trading poor.
TATA Motors, ONGC, Coal India, HCL Tech, Wipro gained on Nifty index. BHEL, ICICI Bank, Ambuja Cement, L&T, ACC declined. TATA Motors, Maruti, SBI, Dr reddys, CIPLA, M&M was trading near 52 week position.
Trend stills remains firm on Nifty index, due to down Indian economy and fiscal deficit. However, Government action on Diesel and LPG price add some positive sentiments on market position. Foreign institutional investment remained in stable position. Market needs liquidity.
Oil and gas stocks may extend their gain today due to proposal of oil and gas price by oil ministry.
Sell Union Bank of India Target 266.00 Stop Loss 280.
Buy ONGC Target 301-302.