Commentary for the week remains muted, but stock-specific action is likely to continue. If the index holds above 8,663, chances of a recovery remain intact.
Tata Steel (up 2.3 per cent), Asian Paints (up 1.2 per cent), Cipla (up 1.1 per cent), ITC (up 0.7 per cent), and Maruti Suzuki (up 0.7 per cent) were the major Sensex gainers.
Experts feel it makes more sense for investors to bet on midcap stocks, which are better positioned to deliver higher double-digit returns.
Data for last 10 years showed the stock market closed in the red in four out of past 10 years and delivered a healthy return of 1 per cent on an average.
Nifty50 opened on a positive note, but failed to hold above its crucial level at 8,720 and continued to fall due to profit booking for the 3rd straight session.
Domestic investment sectors include utilities, engineering and capital goods, cement, agro & fertiliser related stocks, construction and real estate.
The ATR is based on 14-period intervals and can be calculated on a daily, weekly or hourly basis. It is generally used in tandem with directional indicators.
"Any adverse impact from these developments on the domestic economy will always have a ruboff on the markets," the finance minister said.
On the options front, maximum Put OI was seen at strike price 8,600 followed by 8,500 while maximum Call OI was seen at strike price 9,000 followed by 8,800.
Ultra short-term and short-term debt funds posted record growth in assets in absolute terms of Rs 33,296 crore and Rs 33,640 crore to new highs.
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