Dealing Room Check:- There was an all-round selling mood in the market. The most pressure was seen in realty, government banks, IT, capital goods and metal stocks. In IT, the biggest decline was seen in OFSS, KPIT TECH and Persistent. At the same time, Dixon became the top loser in capital goods futures with a fall of more than 7%. Reliance showed strength even in a weak market. Bullish brokerage reports from Jefferies and Bernstein showed enthusiasm for the stock. A rise of more than 2% was seen in the company’s shares. Buying in ONGC continues due to rise in crude and bullish brokerage report. The stock rose more than 2 percent today and became the top gainer in futures. An increase of about two percent was also seen in OIL. Here, today the dealers advised their clients to place bets in the shares of Wipro and L&T.
CNBC-Awaaz’s Yatin Mota quoted sources in the dealing rooms as saying that today dealers have bought shares of the IT company. Dealers have advised their clients to buy Wipro shares. According to dealers, there has been buying in IT shares before the results. Dealers have advised to buy BTST in stock i.e. today and sell tomorrow. Dealers have given targets of Rs 300-305 for the stock.
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As for other stocks, dealers today gave bullish opinion on the shares of Oil and Gas sector. Yatin Mota said that dealers have advised to buy shares of GAIL. According to dealers, short covering has been seen in this stock. Dealers have expected a positional target of Rs 200-205 on this stock. Dealers advised to buy based on F&O trend in the stock
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