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.
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
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.
Experts expect the market to correct in near term, which may be healthy correction but not deep one.
The best way to profit from the variation in volatility is by employing options strategies.
In the near-term, we have a cautious view on the broad PSU banks.
Balkrishna Industries, Polson, Shivalik Rasayan, Teamlease Services, and Seya Industries, among others reached their all-time high marks.
The BSE Midcap index lost 1.2 percent and Smallcap index fell 1.5 percent as about three shares declined for every share rising on the exchange.
Malaysia-based Integrated Healthcare Holdings (IHH) reportedly has pulled out of controlling stake purchase talks from Fortis Healthcare, Malar Hospitals and SRL Diagnostics.
Brokerage house tracking the sector flagged concerns on the outlook as well as the recovery prospects.
Polson, Himadri Specialty Chemicals, Cox & Kings, Aditya Birla Money, Aditya Birla Nuvo and Balkrishna Industries, among others, were among the list of such stocks.
Helios Cap’s founder and fund manager believes that June has been a good month so far. He also keeps an eye on the fund flows by investors as they cannot be completely relied on yet.
Laurence Balanco of CLSA said recent divergence suggests the market is due a pause/correction in the short term.
Fresh momentum is possible only above 9,710 and on the downside a move below 9,560 would lead to a breakdown from recent consolidation.
Nifty fell below 9600 level and the Midcap lost over a percent on profit booking ahead of long weekend.
Tata Motors and BHEL, among others, are being tracked by analysts today.
A Shooting Star is a bearish reversal pattern and is formed after a rising price environment.
The broader markets underperformed benchmarks, with the BSE Midcap and Smallcap indices falling 0.6 percent each.