The Indian stock market erased morning gains and closed lower on Tuesday due to profit-booking in metal, oil & gas and PSU stocks. European markets, which opened lower, also weighed on domestic shares.
The Bank Nifty index snapped its longest winning run in two years amid weakness in broader market and profit selling. Bank Nifty index closed lower by 0.21%, HDFC Bank and Kotak Bank were the top losers on Bank Nifty index, down by 1%, while Canara Bank and Axis Bank advanced by 2% each.
Nifty Stock Tips, Trends and Levels For 18th January 2017
Buy ADANITRANS Above 63.5 Targets 64.1 , 64.7 , 65.3 Stoploss 62.3
Buy BPL Above 73.8 Targets 74.5 , 75.2 , 75.9 Stoploss 72.4
Nifty Trend and Approach
Trend: CONSOLIDATE TO BULLISH
Resistance: 8433 , 8468
Support: 8370 ,8343
Approach: Buy On Dips