Top data points to help you spot profitable trade on Tuesday.
Nifty Auto, Metal, pharma and Realty indices gained 1-2 percent while Nifty Bank ended flat and PSU Bank was down 0.2 percent.
Stocks which rose in the S&P BSE Smallcap index include names like Indiabulls Ventures which rose 942 percent, followed by HEG which gained 666 percent, Graphite India (up 484 percent), and Avanti Feeds which soared 365 percent.
Almost 61 percent of the poll respondents feel that investors should book profits or sell 50 percent of their holding in the small and midcap space.
RIL and IndusInd Bank, among others, are being tracked by investors on Monday.
A look at top cues from domestic and international cues that could have a bearing on D-Street.
According to Technical Analyst Prakash Gaba of prakashgaba.com, the trend is still up, and the next logical technical target is 10315-10537 as long as 10000 holds. The crucial support for the Nifty is at 10000 and the resistance is at 10181-10200-10315-10537. Bank Nifty on the other hand has support at 24534 and resistance at 24785-24900.
The index which now trades above its crucial short-term moving averages is all set to claim new highs towards 10,200-10,400 in the upcoming sessions. Traders should remain long with a stop below 9977 levels.
Structural shifts in the economy may mean longer period of low inflation, and this calls for toning down return expectations over the next 1-2 years
Adani Transmission, Bata India, DCM Shriram, Avenue Supermarts, Gillette India, Edelweiss, among others, were included in this list.
Expects Q2 Nifty earnings to improve to 14 percent after 11 percent fall last year.
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 midcap index was the outperforming sector in the early hours of trade led by Biocon, Bharat Financial Inclusion, JSW Energy and Hindustan Zinc while Bharti Infratel followed by Hindalco Industries and Sun Pharmaceutical Industries were the top gainers.
According to Technical Analyst Prakash Gaba of prakashgaba.com, the momentum seems to be shifting and so all rallies needs to be sold into until 10074 is taken out. The crucial support for the Nifty is at 9922-9877 and the resistance is at 10035. On the other hand, Bank Nifty has support at 24000 and resistance at 24534.
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
The exchange said that the trade would begin at 6:30 pm, which will be preceded by a pre-opening session at 6:15 pm and the trade would last for one hour.
According to Desai, compounded Nifty earnings will be around 20 percent in the next 5 years.
This Jhunjhunwala-owned stock has been on investors’ radar throughout the year 2017. The stock rose 193 percent in the same period.
In the Nifty50 Index, the top gainers were GAIL India which was up 2.33 percent followed buy Bharti Infratel which added 1.79 percent while Sterlite Technologies was the top gainer in the BSE which zoomed 8.92 percent.
Shah believes that short term patterns are not encouraging and a move to 10100 on the Nifty could mean the end of recovery.
Coal India, Axis Bank and pharmaceuticals, among others, are being tracked by investors on Wednesday.
According to Technical Analyst Prakash Gaba of prakashgaba.com, the trend is still up but there is a good chance that we could have a large day with some profit booking in the upper regions.
Since we are in an uptrend we should expect at some point the narrow ranges will be broken on the upside possible with trigger or without it, says Ashwani Gujral.
Index holds gains, courtesy Reliance, HDFC Bank and Infosys, while FMCG stocks were a drag on the Street.
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 5.5 points at the opening bell, says Maximus Securities.