Dealing Room Check: Maximum selling was seen in public sector banks in the market. Nifty PSU BANK INDEX slipped nearly 4%. UNION BANK shares slipped more than 8% and became the top loser in futures. Along with this, Bank of Baroda, PNB and Canara Bank also fell by 4 to 5%. Apart from this, government companies, metal and realty indices also slipped by more than 3%. There was a sharp decline in ITC after the special price discovery of demerger of hotel business. The stock fell more than 7%. Here, today the dealers advised their clients to place bets in the shares of Angel One and NALCO.
CNBC-Awaaz’s Yatin Mota, quoting sources in the dealing rooms, said that today the dealers have sold the shares of the brokerage company. Dealers have advised their clients to sell shares of Angel One. According to dealers, longs have been cut in the stock and its OI has decreased by 10%. Dealers have advised to buy STBT in stock i.e. sell today and buy tomorrow. Dealers have given targets of Rs 2700-2725 for the stock.
As for other stocks, dealers today gave bearish opinion on metal sector shares. Yatin Mota said that dealers have advised to sell NALCO shares. According to dealers, selling of shares of domestic funds has been seen. Dealers have expected a target of Rs 195-198 on this stock. Dealers have advised to adopt STBT strategy i.e. sell today and buy tomorrow in the stock.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. Moneycontrol does not allow anyone to It is never recommended here.)