Nifty Closes Up 53 Points at 23,270.60; Kotak Bank Lone Gainer Among Bank Nifty Stocks

The Nifty 50 added 53 points to close at 23,270.60, according to Way2Wealth, which flagged resistance near 23,483 and 23,600 and recommended using rallies toward 23,500-23,600 to trim long exposure while staying cautious. Bank Nifty told a different story: it closed near 56,055.75 after reversing from the day's high, with Kotak Bank the only constituent finishing in the green. Way2Wealth called for a cautious-to-bearish stance on the index, citing support at 55,600 and resistance at 56,500, and advised against fresh aggressive longs.

No exchange filings were analysed by Orivam today, so this wrap draws entirely on broker research published through the day.

On stock ideas, Way2Wealth pointed to pharma names — Glenmark, Torrent Pharma, Granules India and Lauras Lab — as ones to watch for relative strength, citing a strong technical structure in the sector. It also issued a fresh buy-range call on Five-Star Business Finance (540-551, target 636, stoploss 515) and a short-term trading idea on Finolex Cables (buy at 1290, target 1400, stoploss 1245). Its running call tracker showed open positions in Kajaria Ceramics, BHEL, Crisil, MapmyIndia, Kirloskar Oil Engines, Skipper and NRB Bearing, alongside two recently closed calls — Prestige Estates (-4%) and Ashok Leyland (-8%).

Motilal Oswal's options desk flagged short-buildup put ideas on Britannia, Blue Star and Voltas, and short-covering call ideas on MCX and IndiGo, all for October expiry. On the cash side, it listed Adani Ports, Eternal, Emcure Pharmaceuticals, Syrma SGS Technology and Radico Khaitan as Focus Investment Ideas with Buy ratings, added a Velocity Idea Buy on Hindustan Aeronautics citing improved Tejas Mk1A engine deliveries, and issued fresh Buy calls on Pearl Global Industries and an upgrade to Buy on IDFC First Bank. It also flagged Welspun Living and RBL Bank as technical names on its radar, and noted Lemon Tree Hotels' new Nashik property opening and Manappuram Finance's two-year jewellery manufacturing tie-up with Titan.