Overnight Digest : These stocks will be in focus on Friday
The frontline indices are showing signs of vulnerability at life highs even as the broader markets continue to underperform.
Following stocks will be in focus on August 6 :
ITC: The shares of ITC were seen trending up with an improvement in volumes. Fresh long built-up was seen in ITC on Thursday. ITC can be looked at with a positive bias on Friday's trading session.
IT stocks: Tech Mahindra and Wipro made life highs on Thursday's trading session. HCL Tech, LTTS, LTI and Tech Mahindra are in an intermediate uptrend and can be looked at with positive bias by both the investors and momentum traders.
Metal Stocks: SAIL, Tata Steel and JSW Steel were seen trading with gains on Thursday even as these stocks witnessed long built up on Thursday. These metals stocks will be closely watched by traders and investors alike.
Short built-Up: Derivatives market information can be a useful indicator of price action. SBI Life, BOSCH Ltd, SBI and Escorts saw fresh short positions being piled up on Thursday. Hence these stocks will be watched with caution on the Friday trading session.
Arvind Ltd: The share price of Arvind Ltd tanked on Thursday's session. The company announced a net loss of Rs 8.35 crore in the June quarter. The stock price of Arvind Ltd will be watched closely at Friday's trading session.