Indian stocks edged lower in choppy trading session as increase in Securities Transaction Tax (STT) on equity options and levy of tax on dividend for high net worth individuals offset the government sticking to the 3.5% fiscal deficit target for 2016-17 in the Union Budget 2016-17.
The Sensex, fell 127.29 points or 0.55% at 23,027.01. The Nifty lost 42.70 points or 0.61% at 6,987.05. The Sensex provisionally settled above the psychologically important 23,000 level. The Nifty provisionally settled below the psychologically important 7,000 level.
Standard & Poor’s retained its sovereign rating on India despite the government sticking to its fiscal deficit target in Monday’s Budget as it waited for further improvement in public finances.
Stock Intraday Tips Tomorrow:
Buy ShaktiPump above 111, For Intraday Target of 112-113-114, Stop loss at 109
Buy SmartLink above 96, with a Stop loss at 94 and Intraday Targets are 97, 98 and 99
Sell BF Invest below 116, for Intraday Target of 115, 114 and 113, stop loss at 118
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