Overnight Digest: Stocks to watch out on January 7

On Thursday, following a decline in the western markets, the domestic market witnessed a gap-down opening and extended its losses led by selling in IT, realty and oil & gas shares.

JSW Steel, UltraTech Cement, Tech Mahindra, Shree Cements and Reliance Industries were among the top Nifty losers. Gainers included UPL, IndusInd Bank, Bajaj Auto, Bharti Airtel and Eicher Motors.

Keep a watch on these stocks on Friday: 

Gujarat Gas - The stock of Gujarat Gas has formed a long green candle on the charts with a decent spurt in volumes as compared to previous trading sessions. The RSI is likely to give a positive breakout whereas the MACD has already given a crossover in previous trading sessions. Keep an eye on this stock for further trading sessions.

Telecom stocks - BSE Telecom index has gained 1.31 per cent amid a red day for the equity markets. The stocks of Tata Teleservices (Maharashtra), MTNL, GTL Infra, Indus Towers and HFCL were the stocks lifting the BSE Telecom Index.

Upper Circuit Stocks -Jain Irrigation Systems, Shree Renuka Sugars, Suzlon Energy, MTNL and Bajaj Hindusthan Sugar have locked in the upper circuit in Thursday's trading session.