Benchmark indices settled the day higher, gaining for the fourth straight week driven by financials even after RBI put HDFC Bank back in the FII ban list. On Friday, Market opened with a gap up supported by pharma & banking stocks. Pharma stocks witnessed glimpse of turnaround due to improvement in FDA outlook, investors are considering them as a good value pick in the long term. On the other hand, HDFC Bank provided a flip to the index after RBIs lifted the ban on FII’s investment. The Central Bank said the private bank has crossed overall limit of 74% of its paid-up capital and no further purchases of shares the bank would be allowed via exchanges for FIIs. It had allowed foreign investors to resume buying in the private bank earlier. The BSE Sensex settled the day at 28,469, up 167 points, while the broader Nifty50 ended at 8,822 up 44 points.
Nifty Tips For Tomorrow(Monday – 20th February 2017)
BUY MANPPURAM ABOVE 104 TARGETS 105, 106, 107 STOPLOSS 102
BUY ATLANTA ABOVE 89 TARGETS 89.80, 90.60, 91.40 STOPLOSS 87.40
SELL MTEDUCARE BELOW 92 TARGETS 91.10, 90.20, 89.30 STOPLOSS 93.80