SmallCap: On Friday, a lot of selling was registered in Nifty due to weak global cues. Selling pressure was seen on Nifty from the early session itself and soon Nifty tested the level of 17000.
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On Friday, Nifty started trading with a rise. Nifty opened 28 points sharp in the morning, but with the beginning of trading, it started showing weakness. Nifty broke its support level of 17200 on Friday and after that it started moving towards 17000. For a moment, it seemed that the Nifty has made a comeback from the level of 17000, but after that there was a weakness again and the Nifty reached the level of 16985.
Frustration with market weakness
After the end of trading in the day, Nifty closed at the level of 16985. Market experts have been very disappointed after seeing this level of Nifty after the end of trading in the day. On Friday, only the shares of IT companies have closed in the green mark, almost all the other indices have closed in the red mark.
Many stocks recovered
IndusInd Bank, Tata Motors and ONGC’s shares registered a lot of weakness amid weakness in the stock market. Shares of all these companies closed down by more than 4%. Midcap and smallcap stocks have made a great comeback amid heavy fall in the stock market. All these shares closed higher today. Due to the recovery from the lower level, these stocks are indicating that it is in the buying zone and on Monday these stocks can register a rise.
Which stocks bounced back from their lows of the day?
- Castrol Industries
- DCB Bank
- ECLERX
- graphite
- ISEC
- KNR Con
- MRPL
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