The Indian market opens the first trading day of the week on a positive note. On Friday, the US markets ended higher with the Dow up 186 and Nasdaq up 50 odd points while Asia is in the green at this hour. Sensex is trading at 16312, up 98 points from its previous close, and Nifty is at 4894, up 27 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.1%. The market breadth is positive with advances at 393 against declines of 108 on the NSE.
Buy IndusInd Bank above Rs 264 with a 1-2 day targets of Rs 270 and 274 and stop loss of Rs 259. The stock is currently trading at Rs 262.10, up 0.6% on the BSE.
Sell HUL with a target of Rs 381 and stop loss of Rs 389.
The pre-opening session of the market begins with the Nifty and Sensex indicating a positive start today. The SGX Nifty is at 4909, up 27 points.
Buy OnMobile Global with a target of Rs 78 and stop loss of Rs 65.