Adani Transmission, AGC Networks, Ajmera Realty & Infra India, Avanti Feeds, Caplin Point Laboratories, Eimco Elecon (India), Hindustan Unilever, Housing & Urban Development Corporation, Indian Hume Pipe Company, ITC, J.Kumar Infraprojects, Kalyani Steels, Lakshmi Finance & Industrial Corporation, Manpasand Beverages, Minda Industries, Mirza International, Motherson Sumi Systems, Muthoot Capital Services, Petronet LNG and Talbros Automotive Components were among 32 stocks that touched their 52-week high on Friday on NSE as Nifty finished a shade lower. The BSE Sensex closed 30.13 points up to close at 30,464.92, while NSE Nifty dipped 1.55 points to end at 9,427.90.
On Friday’s movement Sameet Chavan (equity technical analyst, Angel Broking), said, “Today, we witnessed a gap up opening with a decent margin; but, as we generally see in such kind of market, all this early morning lead got sold into. In fact, during the day, the Nifty sneaked tad below the 9400 mark. However, the index managed to find some support at lows and hence, the Nifty eventually reclaimed this psychological support on a closing basis”
Visaka Industries, Teamlease Services, Siyaram Silk Mills, Sharda Cropchem, State Bank of India, Muthoot Capital Services, Jayaswal Neco Industries, were some of the other stocks that touched their 52-week high on NSE on Friday.
However, Anjani Portland Cement, ATN International, Blue Blends (I), Divi’s Laboratories, Educomp Solutions, Glenmark Pharmaceuticals, Hindustan Dorr-Oliver, Housing & Urban Development Corporation, Indoco Remedies, Inventure Growth & Securities, Lycos Internet, Mcnally Bharat Engineering Company and MT Educare were among 32 stocks that touched their 52-week low.
On future movement, Chavan said, “We would continue with the positive bias as long as Nifty manages to hold the important support of 9372. In fact, we are of the opinion that if there is any decent correction has to happen, it’ll most probably happen only after touching the magical figure of 9600. Considering the recent activity in individual stocks, traders are advised not to take aggressive positions in the market and one needs to be very selective while picking up individual stocks.”