A breakout could take the index towards 10,200 and then further towards 10,300 while 10,080 will lend a strong support to the index. Investors are advised to hold their positions and add fresh longs only after a breakout.
A quick check on what moved the markets today.
Markets were largely on the fence ahead of the US Federal Reserve’s FOMC meeting which could see some announcement on the interest rate movement.
The important level to watch put is Monday’s gap of 10,115-10,131 and a break below this gap could fuel selling pressure, suggest experts.
A breakout on the Sensex will add to the strength of the broader markets until then this move can be questioned, says Paragnesh Jain, AVP Technical Research - Institutional Equities, Systematix shares.
Secunderabad-based Bambino, manufacturer of pasta and vermicelli, has proven to be best price performer during October-December quarter, delivering - consistently -- over 35 percent during the third quarter of every year for the last five fiscal years.
If the Nifty consistently trades above 10,137 -10,171, the rally is likely to stretch towards 10,300 to 10,400. Investors are advised to keep a trailing stop loss below 10,043 for all long positions, suggest experts.
Nearly 5 stocks more than doubled investors wealth on the NSE during those 31 sessions which include names like KIOCL, Goldstone Infratech, Future Market Network, California Software, and Bombay Dyeing.
Technical factors, liquidity and global cues, among others, drove the markets higher on Monday.
As much as 93 stocks on the NSE hit fresh 52-week highs which include names like Page Industries, Honeywell Auto, Britannia Industries, Bajaj Auto, Dixon Technologies, HDFC Bank, L&T, Bata India, TVS Motors, JBM Auto, HEG, and Gillette India among others.
The index closed flat as traders preferred to stay on sidelines ahead of the weekend. The index made an indecisive pattern, ‘Spinning Top’ kind of pattern for the third consecutive day in a row.
Apex Frozen Foods, Bajaj Electricals, Bajaj Finserv, Bombay Dyeing, Edelweiss, Emkay, East India Hotels, HDFC Bank, and Indiabulls Ventures, were a part of this list.
A news report says that volumes in commodity exchanges have fallen to their lowest levels since 2010. They are presently at one-third their peak levels touched in 2013. There are many reasons for the sharp drop in business volume.
Rather than getting carried away by short period returns, it is important to evaluate an investment in the context of its risk.
When a Spinning Top is formed in an uptrend, the one we are in right now, suggests that the buyers are losing conviction and a possible top could be in place, but it will still require confirmation.
There are a lot of iPhone lovers but what if, with the same amount, you could actually double your money in a couple of years.
Relaxo Footwear gave a share price return of over 7400% over the last 10 years. Check out the performance of the other three listed footwear companies.
The idea of buy on dips is not a bad one. But when used to buy momentum stocks on small corrections leads to a disaster.
When a Spinning Top is formed in an uptrend, the one we are in right now, suggests that the buyers are losing conviction and a possible top could be in place, but will still require confirmation.
Fall in OMCs, midcaps drag the Nifty in the red. Jubilant Foodworks leads the fall in midcaps after reports suggested bugs being found in it seasoning sachets.
Financial inclusion offers huge business opportunity says MD & CEO of Axis Securities, Arun Thukral.
Names like Honeywell Auto, Maruti Suzuki, Nestle India, Tata Elxsi, Britannia Industries, Dalmia Bharat, ACC, and HDFC Bank are a part of this list.
September series' derivative data is stronger than August series as we have been continuously seeing open interest addition post expiry.
Over the last five years, Indian companies seem to have taken a leaf out of Buffett playbook while rewarding shareholders.
Higher investment flows both from domestic and foreign investors should provide downside support to the markets.