Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities:
Today, on the big support of the 50-day SMA, the market has established a long-led dodge, indicating that the market has taken a break after falling below the high of 14750/50185. Based on this, the market may either continue the rally going southward or it may turn back. In short, the market would return to trending mode in the next day or two. On the upside, 13930/47000 would be a big hurdle and support would be at the 13680/46500 level. If the Nifty / Sensex closes above or below the given level, it would move up to 400 to 500 points on either side. Traders need to be level based and investors would have the opportunity to invest in strong companies with a medium term outlook (1 to 3 weeks).
January 28, 2021 / 03:52 PM IST
Vinod Nair, Head of Research at Geojit Financial Services:
Market turned cautious after the unidirectional upside of the last 10 months due to ambiguity ahead the budget and profit booking in the global market due to over-enthusiasm. Global risk parameters increased despite the US Fed maintaining its supportive policy, due to high speculation in the equity market and likely drop in fiscal & monetary liquidity, in the future.
January 28, 2021 / 03:51 PM IST
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:
13,700 has acted as a good support for the market. What needs to be seen is if we can keep above this level over the next few days. If we break 13,700, we could slide down to 13,500-13,600 and then to 13,200. On the upside, we have a stiff resistance at 14,500 and only if we can close above that can we start thinking on the long side and accumulate buy positions.
January 28, 2021 / 03:50 PM IST
Rohit Singre, Senior Technical Analyst at LKP Securities:
Index closed a day on a negative note for fifth consecutive session at 13825 with loss of one percent and formed a Doji candle pattern on the daily chart which suggest some reversal may be expected in coming sessions. The index has formed a good base near 13,800-13,700 zone if managed to hold above-said levels then we may see a swift pullback in Nifty towards 13,900-14,000 zone which is immediate hurdle on higher side.
January 28, 2021 / 03:43 PM IST
Rupee Close: Indian rupee ended 12 paise lower at 73.04 per dollar, amid selling seen in the domestic equity market. It opened 21 paise lower at 73.13 per dollar against previous close of 72.92 and traded in the range of 73.04-73.15.
January 28, 2021 / 03:35 PM IST
Market Close: Benchmark indices ended lower in the fifth consecutive session on January 28 with selling seen in the IT, auto and FMCG names.
At close, the Sensex was down 535.57 points or 1.13% at 46,874.36, and the Nifty was down 150 points or 1.07% at 13,817.50. About 1543 shares have advanced, 1285 shares declined, and 161 shares are unchanged.
HUL, Maruti Suzuki, Wipro, HDFC Bank and Power Grid Corp were among major losers on the Nifty, while gainers were Axis Bank, SBI, Shree Cements, IOC and Hero MotoCorp.
Except Nifty Bank other sectoral indices ended in the red. BSE Midcap and Smallcap indices shed 0.4 percent each.
January 28, 2021 / 03:25 PM IST
November Telecom Data:
Bharti Airtel added 43.7 lakh users versus 36.7 lakh users, Reliance Jio added 19.36 lakh users versus 22.28 lakh users and Vodafone Idea lost 28.9 lakh users versus loss of 26.56 lakh users, MoM.
January 28, 2021 / 03:20 PM IST
Ashis Biswas, Head of Research at CapitalVia Global Research:
The market witnessed some lackluster movement where bears look more in control. If the market closes below the levels of 13,800, it is expected to touch the levels of 13,600 in the coming week. 13,570-13,600 will be an important support zone, while 14,000 will be an important resistance.
The momentum indicators like RSI, MACD indicating a sideways movement will prevail in the following week. As such the market retain its cautious stance and advise the traders to refrain from building a fresh buying position, until any further decisive movement in the market.
January 28, 2021 / 03:12 PM IST
Tata Power Solar receives LOA:
Tata Power Solar has received a “Letter of Award” (LoA) to build 95 MW of ground mounted Solar PV project for GSECL. The order value of the project is approximately Rs 460 crore (USD 63 Million). The Commercial operation date for this project is set for April 2022.
January 28, 2021 / 02:56 PM IST
DB Corp Q3:
Company's consolidated Q3 net profit rose 21.3% YoY at Rs 99 crore against Rs 81.6 crore and revenue was down 17.4% at Rs 494.3 crore versus Rs 598.7 crore.