A quick check on what could trigger the markets today.
Goods and services tax (GST) will have its impact but the overall market mood is changing a bit.
The 10-year benchmark yield is likely to trade in a range of 6.94-6.99 percent today,says Ajay Manglunia of Edelweiss.
According to Technical Analyst Prakash Gaba of prakashgaba.com, the crucial support for the Nifty is at 10240-10184 and the resistance is at 10380-10400. Bank Nifty on the other hand Bank Nifty has support at 25300 and resistance at 25800.
MindTree, Godrej Industries, and Power Grid Corporation are on the radar of Reliance Securities
A look at top cues from domestic and international cues that could have a bearing on D-Street.
Across the Korean Strait, the Kospi edged down 0.39 percent as gains in automakers and cosmetics stocks were offset by losses in manufacturing names: Amorepacific rose 2.03 percent, Hyundai Motor jumped 3.24 percent and Samsung Heavy fell 2.38 percent.
A positive close in the next trading session could confirm the bottom. Investors with long positions should continue with long bets with a stop below 10,240.
Foreign investors have pumped in a staggering USD 1.5 billion in the Indian equity markets this month so far, propelled by the government's Rs 2.11 lakh crore bank recapitalisation plan.
Investments in the Indian capital market through participatory notes (P-notes) plunged to an over eight-year low of Rs 1.23 lakh crore at September-end in view of stringent norms put in place by regulator Sebi.
We won’t initiate short in the index and rather be on sidelines for next couple of sessions, Jay Purohit, Technical & Derivatives Analyst, Centrum Broking Limited, said in an exclusive interview with Moneycontrol’s Kshitij Anand.
In the ranking of top-10 firms, RIL continued to remain at the pole position followed by TCS, HDFC Bank, ITC, SBI, HUL, HDFC Limited, Maruti, ONGC and Infosys. Over the last week, the Sensex recorded a fall of 371 points, or 1.10 percent, and the NSE Nifty 130.75 points, or 1.25 percent.
Thanks to the technique of ‘trailing your stop loss’ you can prevent yourself from being in this situation. In fact, at times trailing stop loss gives you a chance of making a better profit than you originally thought about.
The index is likely to consolidate in the coming week and investors are advised to remain stock specific which could offer better trading play, suggest experts. Traders should avoid any long bets and stay cautious as the trend could turn sideways.
The Association of National Exchanges Members of India (ANMI) has urged the finance ministry to reduce STT and abolish dividend tax for the growth of the capital markets.
Coming week the market will first react to September industrial output data announced last Friday and L&T earnings declared over the weekend.
A senior official on Saturday said the government is working with SEBI to ensure there is zero tolerance towards unethical behaviour and non-compliance.
Markets regulator SEBI has ordered the release of bank and demat accounts of ENN ENN Corp after it paid the pending dues amounting to Rs 12.55 lakh.
The company had posted a net profit of Rs 26.55 crore in the same quarter last fiscal
Total income decreased to Rs 2,379.68 crore in the September quarter, from Rs 2,562.25 crore a year ago.
The market resumed the week on looming uncertainty on crude oil price crux following a shake-up in the Saudi kingdom, but the domestic liquidity flow kept the market afloat, marking new highs before succumbing to uncertainty
"Enough scope for stock-specific investment opportunities in the mid-cap space."
Historically, it is seen that Nifty finds it difficult to move up sharply when its Future premium increases. So, more consolidation is expected till this premium doesn't start getting lower.
Gold faced sustained headwinds from another round of record highs in US equities, as well as markets now placing a more than 80 percent probability of a December rate hike by the US Fed.