Mumbai, Aug 13 (SocialNews.XYZ) The key Indian equity indices shed major gains made during the initial trade on Thursday.
Healthy buying was witnessed in the metal stocks.
The BSE Sensex gained as much as 147 points to touch an intra-day high of 38,516.85.
At 10.19 a.m., it was trading at 38,417.63, higher by 48 points or 0.13 per cent from the previous close of 38,369.63.
The Nifty50 on the National Stock Exchanges was trading at 11,346.25, higher by 37.85 points or 0.33 per cent from its previous close.
Manish Hathiramani, technical analyst at Deen Dayal Investments said that Nifty should be heading to levels closer to 11,500 during the course of this month's expiry.
"The support for the Nifty is at 11,150 so a closing below that level could be kept as a stop for all long trades," he said.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz