Nifty has settled 234 points higher in April contract expiry. It seems that intermediate correction that started in February has come to an end and uptrend has resumed. The bulls are very active and it appears that this rally will continue, albeit with bouts of profit booking, which in any case is healthy.
Crest Animation Studios Ltd, hit another buyer freeze in the mid-morning trade. The scrip is locked at the Upper Circuit at Rs.7.94.
Gold is up even today and hence the gold loan companies are expected to perform well in the bourses. While, Manappuram Finance Ltd is now trading at Rs.17.95 and Muthoot Finance Ltd is also trading with some gains at Rs.131.65. This gold rush is expected to continue as now ETFs, which were selling has started to buy gold.
Meanwhile, Sarda Energy and Power Ltd today again touched its first short term target of Rs.117, as the scrip kissed Rs.118 in the process. Yesterday, it touched both the targets intra-day.