If the selling pressure takes the index below its crucial support level of 9,685-9,720, then a drop towards 9500 is possible, suggest experts.
The fall in broader markets was more than benchmarks as the BSE Midcap and Smallcap indices declined 1-1.5 percent on weak breadth. About two shares declined for every share rising on the exchange.
The S&P BSE Midcap index rose by about 3 percent. Top gainers among the midcap stocks include names like Tata Global, and GMR Infra, among others.
Krishna Kumar Karwa of Emkay Global Financial Services told CNBC-TV18 that the market will watch out for cues from earnings. He sees Q3 could be better on low base of demonetisation.
Vijay Kedia tells Kshitij Anand of Moneycontrol.com that his guru mantra lies in investing like a bull, sitting like a bear and watching like an eagle.
The Sensex was down 265.83 points at 31258.85, while the Nifty closed down 83.05 points at 9754.35.
Nifty to open gap up by 7.8 points at 9857.50 against Friday’s close of 9849.70 as per SGX Nifty, says a report by Dynamic Levels.
Cite leadership vacuum and possibly more exits on the cards for the negative view on the stock.
Infosys, Grasim and Avenue Supermarts, among others, are being tracked by analysts on Monday.
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 4 points at the opening bell, says Maximus Securities.
Nifty is likely to open flat on the back of mixed global cues. Buy Nifty in range of 9820-9830 for target of 9880, stop loss: 9800, says ICICIdirect.
From 9.15 am to 11.15 am Nifty will maintain its strength. From 11.15 am to 14.30 pm expect a mixed to negative trend. From 14.30 pm to 15.30 pm, overall Nifty will go up, says Ganesha.
According to Prakash Gaba of prakashgaba.com, crucial support for the Nifty is at 9780-9750 and the resistance is at 9911-9965. Bank Nifty on the other hand has support at 23750 and resistance at 24250. He has 3 buy calls including Ambuja Cements, Bharti Airtel and Kajaria Ceramics and a sole sell call on Fortis Healthcare.
Traders should wait for further confirmation on Monday as Friday's price action was largely weighed down by Infosys.
The Bulls are making their way back into D-Street but it will still be hard for the index to reclaim Mount 10K in a hurry due to the presence of multiple resistance levels
Monsoon progress, geopolitical issues along with corporate developments around Infosys could keep the Street on its feet.
Over the last 4 years, we have seen investors committing significant capital to Small and Micro cap stocks. The cycle has swung from lean to sufficient ownership.
Tax evading cos end up accounting for 80% of jobs. It is almost certain that the overwhelming majority of India’s job growth in the past decade has come from India’s informal sector.
Cognitive Investing is an investment philosophy which requires one to isolate the current market condition from the investor’s time tested investment thesis.
Despite the day’ sell-off, the market managed to rebound and end the truncated week with 1 percent gains after losing 3.5 percent in previous week.
The cumulative notional loss which Narayana Murthy suffered today is a little above Rs 100 crore while other members of the members of the family saw a notional loss of little over Rs 900 crore.
Despite correction in overall market, these 33 stocks hit fresh 52-week highs and of which, 11 touched record highs.
The positive stance was due to future outlook and synergy gains from Videocon merger. The stock rallied as much as 6 percent in early trade Friday.
The Sensex closed down 270.78 points at 31524.68, while the Nifty ended lower by 66.75 points at 9837.40.
Nifty to open gap down by 54 points at 9860 against yesterday’s close of 9914 as per SGX Nifty, says Dynamic Levels.