Markets rebounded on Monday to end over 2% higher led by state-owned banks on hopes of banking sector reforms while beaten down metal shares also surged on short-covering. Further, rally in global markets, contraction in the wholesale price index (WPI)-based inflation for the fifteenth straight month and strengthening rupee boosted sentiment. The Sensex ended higher by 568 points at 23,554 and the Nifty gained 182 points higher at 7,163. The Nifty50 has registered the biggest intra-day gain since May, 2014. The wholesale price index (WPI)-based inflation fell for the 15th straight month in January, dropping 0.90% compared to 0.73% in December. Government data released on Monday showed that total build up in the inflation for the current financial year leading up to December was -0.23% as compared to a -1.66% fall in the corresponding period of the previous year.
Stock Intraday Tips Tomorrow: 16th Feb
Buy SHALPAINTS above 122, Targets are 124, 126 and 128, Stop loss at 118
Buy ONWARDTEC above 78, Target at 79, 80 and 81, Stop loss at 76 level
Sell SHIVTEX below 90, Target level at 89, 88 and 87, Stop loss at 92.