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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
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Todays L/H

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.