ITC, SBI, Bank of Baroda, L&T, Sun Pharma, Lupin and Dr Reddy's Labs were under pressure while Infosys, ICICI Bank and HDFC continued to support the market.
Nifty to open gap down by 25 points at 9489 against yesterdays close of 9514.15 as per SGX Nifty, says Dynamic Levels.
Axis Bank, Havells India and Dish TV, among others are being tracked by analysts today.
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 34.5 points at the opening bell, says a report by Maximus Securities.
Nifty is likely to open flat to negative on the back of weak global cues. Sell Nifty in the range of 9540-9550 for target of 9490-9470, stop loss: 9570, says a report by ICICIdirect.
From opening to 12.30 pm, the market pattern will be very uneven, i.e. totally unsteady. Hence, doing intraday shall be the only alternative. Between 12.30 pm to 14.30 pm, Nifty will go up, step by step, says Ganesha.
The valuation of most of the midcaps was trading above their long-term averages and some consolidation cannot be ruled out, feared experts.
Prakash Gaba of prakashgaba.com is of the view that if Nifty continues to slide then the next logical technical target is 9466-9439-9400. The crucial support for the Nifty is at 9466-9439-9400 and the resistance is at 9560-9591.
A look at top cues from domestic and international markets that could have a bearing on D-Street on Wednesday.
Fresh Call writing was seen at strike prices 9500, 9550 and 9600 which is going to restrict its bounce back move fresh Put writing at 9400 strike is shifting its support to lower zones.
As of now, there is no strong trigger that can drive the market up. June quarter earnings could be next trigger but that is also not expected to support.
A close below 9,500, which holds maximum Put open interest positions, does not augur well for the bulls.
Nilesh Shah of Kotak Mahindra AMC believes that the long term bullish story of the market remains intact and investors, if underweight on equities, could increase investments.
The research firm said that the Street is not fully incorporating strength in global aluminium price to levels that we believe are sustainable.
Research firm said that the company’s margin prospects look better due to improvement in product mix and cost savings.
The Sensex closed down 179.96 points at 30958.25, while the Nifty ended down 63.55 points at 9511.40
Nifty to open gap up by 24 points at 9616 against Friday's close of 9592 as per SGX Nifty, says Dynamic Levels.
Nifty is likely to open slightly higher despite of mixed global cues. Sell Nifty in range of 9645-9655 for targets of 9595-9565, stop loss: 9675, says a report b y ICICIdirect.
From 12.43 pm to 14.43 pm, Nifty will go up. Between 14.43 pm to 15.30 pm, a downward pattern at Nifty is foreseen, says Ganesha.
Prakash Gaba of prakashgaba.com is of the view that crucial support for the Nifty is at 9520-9466 and the resistance is at 9620-9700-9724 and has Mindtree and Sun Pharma as bullish plays while he has Tech Mahindra and UPL as bearish plays.
This will be the fifth and last public issue for the month of June, followed by CDSL, Tejas Networks, GTPL Hathway and Eris Lifesciences.
Interview with Dhiraj Relli, Managing Director and Chief Executive Officer of HDFC Securities.
The moot question remains, is it easy to buy into multi-baggers? If yes, then all of us should have been wealthy by now. Let’s try to address the burning question in the mind of an investor.
The index which was expected to hit fresh highs before June expiry could languish around support levels unless bulls push Nifty50 beyond 9,700-9,709.