Extreme volatility as Nifty nears the monthly expiry!

Good Evening, everyone, Nifty opened with a small gap up at 17900 and then went on to a 300 point for to near 17600 and then recovered 150 points to finally close at 17748.

Volatility to the core is what we can say in one line!

The FIIs sold for a nett of Rs. 594.63 Cr while the DIIs bought for Rs. 1397.69 Cr today.

On the daily chart, Nifty has formed a hammer, a pattern which suggests that the Bulls are trying to come back, and have not lost steam yet. However, we may see more volatility tomorrow as we near Thursday.

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Sector Watch:

The Realty & IT sector continued to see big profit bookings as they were on the rise for the past few months, while PSU banks were the only sector to be up more than 1%.

Top Gainers:

Most stocks in the energy sector were up by more than 4% today, among them were some of our favourites like Powergrid & Coal India

Top Losers:

The Telecom sector came into selling today as Bharti Airtel lost 3.7% in the day followed by IT stocks like Tech M, Wipro & Infy.