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Tuesday At Share Market: Opening After Long Weekend, Market Expected To Stay Positive

The market opens today after a long weekend and it closed on a positive note last Friday. Experts hope that the positive trend may continue as the week opens today

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The stock market opens today after a long weekend. On Friday, which was the last trading day, both BSE and NSE closed on the green mark. NSE Nifty was up by 149.95 points and crossed the 17000 mark to close at 18,065. The BSE Sensex too was up by 463.06 points and closed at 61,112.44. With the last week showing positive trends, experts hope that this week too would open on a positive note. 

The Big Gainers 

Here is a look at the Big Gainers on Friday. These included Edelweiss Financial Services, CEAT, Omax Autos and Royal Orchid Hotels.

Edelweiss Financial Services jumped by 19.96 per cent and is trading at Rs 68.20. In the last five days, it has gained 19.44 per cent. CEAT was up by 11.54 per cent and is available at Rs 1,565.20. In the last one month, it has jumped 8.14 per cent.  

Omax Autos gained 6.88 per cent and is trading at Rs 45.80. In the last five days, it has jumped by 9.31 per cent. Royal Orchid Hotels jumped 6.05 per cent and is trading at Rs 341.20. The 52 week high of this stock is Rs 341.20. 

Stocks Showing Bullish Signs

The momentum indicator MACD has revealed some active stocks which are bullish at the moment. These include Rail Vikas Nigam, Yes Bank, Gujarat State Fertilizers & Chemicls, and Ircon International. Rail Vikas Nigam has gained 3.83 per cent and is available at Rs 107.15, while Yes Bank is up by 0.64 per cent and is trading at Rs 15.70. 

Gujarat State Fertilizers & Chemicls is trading at Rs 158.50 following a jump of 4.07 per cent. Ircon International gained 2.20 per cent and is trading at Rs 74.20. 

Expert Speak 

Prashanth Tapse, Senior VP (Research), Mehta Equities
Markets may start on a cautious note amid fall in SGX Nifty and overnight weakness in the US markets. But recovery in other key Asian gauges could provide some relief to investors. Adding to the recent optimism would be the robust monthly GST numbers, which hit a new all-time high in terms of collections in April, indicating that the domestic economy continues to be on strong footing despite global macroeconomic challenges. However, some amount of caution could prevail after the last week's upsurge and it wouldn't be surprising if profit-taking comes into play. Technically, the Nifty options data suggests Nifty is likely to be in a trading range of 17800-18500 zone.