Markets snapped three day winning streak with telecom shares leading the decline after Reliance Industries announced the launch of Reliance Jio with disruptive pricing strategy in addition to voice calls and national roaming free of cost. The S&P BSE Sensex ended down 29 points at 28,423 and the Nifty 50 slipped 12 points to settle at 8,775. In the broader market, the BSE Midcap and Small cap indices ended down 0.4% each, underperforming the benchmark indices. In the macro-economic front, India’s gross domestic product (GDP) grew below expectations at a five-quarter low of 7.1% in the first three months of 2016-17, down from 7.9% in the fourth quarter of the previous financial year.
Today’s NSE Top Gainers : GAIL India, HDFC, Coal India, Lupin, Tata Steel
Today’s NSE Top Losers : Idea Cellular, Bharti Airtel, Reliance Inds, BHEL.
Nifty Trend For Tomorrow
RESISTANCE: 8820, 8870
SUPPORT: 8750, 8700
APPROACH: BUY ON DIP
Stocks to Buy Tomorrow (Friday) : 2nd September
Buy NDTV above 97.30, Target at 98.20, 99.10 and 100, Stop loss at 95.50
Buy Philip Carb abobe 270, intraday target at 272, 275 and 278, stop loss at 264
Sell SreInfra below 76, with stop loss at 77.40, Targets are 75.30, 74.60 and 73.90