HDFC Securities says Traders should sell Nifty on rise around 14450-14500
HDFC Securities says that Indian benchmark equity indices recovered smartly on April 22 after opening lower and making an intra day low in the first 5 minutes of trade. Focussed buying in Banks helped Nifty recover later in the day. Despite a surge in Corona cases, traders went in for bottom fishing on the weekly F&O expiry day, reversing a streak of two day loss. At close the Nifty ended 0.77% or 109.8 points higher at 14406
Volumes on the NSE were in line with recent averages. Among sectors, Banks, Metals and Realty were the main gainers while FMCG and Consumer Durables were the loss leaders: Reuters