Hot Stocks | Can buy LIC Housing Finance, Delta Corp and SBI Life for short term
Episode 3029, Nov 11, 2020, 12:30 AM
Indian markets closed at record high on November 10 on the back of strong global cues.
So far, Nifty has surged more than 8 percent this month while Bank Nifty has gained nearly 19 percent as uncertainty over the US elections ended along with development in the COVID vaccine.
Banking and financial stocks surged sharply with Bajaj and HDFC twins among top gainers.
On the derivatives front, the rally was supported by short-covering, done by call writers at 12,400 and 12,500 strikes.
Furthermore, put writers added hefty open interest at 12,400 strikes and seen shifting at higher bands.
On the technical front, 12,750 and 29,500 would act as an immediate hurdle for Nifty and Bank Nifty, respectively.