Based on a Fibonacci retracement, major support at 9,979 level and immediate resistance level is placed at 10,191.
The Street could watch out for reactions to Reliance Industries’ Q2 numbers along with slew of other earnings such as Bajaj Auto, Axis Bank and ACC, among others
The bears realised that perhaps 10,000 is likely to hold and ran for cover further fuelling the rally that was led by the big boy Reliance.
If the strength continues, Nifty should be able to hit fresh record highs ahead of Diwali. The Supertrend indicator too gave a buy signal on the charts which is a bullish sign for investors.
The rupee held its ground and rose 4 paise to 65.10 against the dollar today after the US Fed minutes signalled "patience in removing policy accommodation".
India VIX moved up by 5.58 percent at 11.73. The market witnessed a sudden spike in volatility as index broke above its higher lows after the seven trading sessions
This Jhunjhunwala-owned stock has been on investors’ radar throughout the year 2017. The stock rose 193 percent in the same period.
Coal India, Axis Bank and pharmaceuticals, among others, are being tracked by investors on Wednesday.
Global brokerage house, Nomura, upgraded its rating to neutral from reduce and increased the target to Rs 990 from Rs 945.
Manish Gunwani sees good earnings, both domestic and global in FY19 and sectors such as telecom and pharma could see year on year growth.
The 142-year-old BSE was founded in 1875 by Premchand Roychand, who was an influential businessman in the 19th- century Bombay, as the Native Share & Stock Brokers Association, and began to function from under a banyan tree on Dalal Street in the Kala Ghoda area of south Bombay and shifted the present Phiroze Jeejeebhoy Towers in 1980.
Going forward, we expect the broader markets to extend relative outperforming streak while the index extends time wise consolidation phase.
Tata Motors, HDFC and Cadila Health, among others, are being tracked by analysts on Thursday.
On the downside 9750-9700 should act as a strong support area. Overall, data has turned slightly positive post expiry and further up move can be seen towards 10,000 levels.
Today the big cues would be A) In the first half how does the market react to the fiscal stimulus, there has been Rs 2 per litre cut in petrol and diesel and B) Is there going to be a monetary stimulus as well thrown in at 2.40 pm or 3 pm when the Reserve Bank of India (RBI) announces its monetary policy?
"On the auspicious occasion of Dhanteras on Tuesday, October 17, the exchange has decided to conduct Extended Live Trading session in Gold Exchange Traded Funds (ETF) securities and Sovereign Gold Bond (SGB) securities in the equity segment," the bourse said.
Any disappointment from the RBI could put the rally under stress. Most experts see the central bank maintaining a status quo stance on Wednesday when it will unveil its outcome.
Coal India, Titan and GAIL, among others, are on the radar of investors on Tuesday.
RIL's market valuation plummeted Rs 22,385.57 crore to Rs 4,95,300.50 crore
Brokers who fail to make timely submission of risk- based supervision data will be slapped monetary penalty
Investors are advised to stay with quality stocks and avoid leverage play at current levels especially when there is lingering concerns of growth and valuations have already ballooned to levels which most experts might call it stretched if earnings growth failed to pick up.
Long-term investors could use the dip to buy quality stocks on declines but for traders, the tide has turned from buy on dips to sell on rallies.
Market watchers and rating agencies believe that as long as NHAI continues to receive 'direct and indirect government support' for implementation of various highways projects, it is anticipated to be 'stable' and a 'decent buy'
Going forward, the index could remain on a rising trajectory and head towards a target of 10,400 in coming weeks.
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.