The stock market entered into solid phase after rallying more than 1 percent in a previous session. The BSE Sensex gained 30.98 points at 28535.91 and the NSE Nifty advanced 8.55 points to 8642.05.
The broader markets marginally outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.35 percent and 0.8 percent, respectively. More than two shares advanced for every share declining on the Bombay Stock Exchange.
Dr Reddy's Labs rallied more than 2 percent followed by GAIL and Vedanta with 1 percent upside. However, Tata Steel topped the selling list on Sensex, down 2.8 percent. HUL, Tata Motors and Bharti Airtel slipped 1-1.6 percent.
Stock Market Intraday Tips Today
L&T: Buy Stop Loss: Rs 1,840 Target: Rs 1,900
L&T has a better chart and a breakout in L&T may suggest a breakout in Nifty as well.
Axis Bank: Buy Stop Loss: Rs 582 Target: Rs 608
Axis Bank stock is mirroring Bank Nifty. Though, according to him, Bank Nifty is likely to underperform Nifty.