Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023

Hot Stocks | Here is why you should bet on Granules India, DLF for short term

Sameet Chavan of Angel One advises traders to keep a close tab on global developments and says any favourable cues will certainly provide the much-needed push to the domestic market

October 03, 2022 / 06:12 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

The Reserve Bank of India’s decision to hike the repo rate by an expected 50 basis points on September 30 gave a much-needed boost to the market which had a bad week.

The Nifty not only witnessed a V-shaped recovery after the policy announcement but also went on to reclaim 17,000 with some authority.

But the week was off to a rocky start. On September 26, the market opened with a downside gap amid global weakness. As the day progressed, the Nifty tested the psychological level of 17,000.

In the following session, markets had a positive start which eventually got sold into. Mid-week the Nifty slipped below 17,000 to enter the sub-16,800 territory.