Natco Pharma gets EIR:
Nomura maintains buy on M&M:
UltraTech Cement Q4:
Nifty above 9000:
JSW Energy Q4:
CESC approves fund raising:
Rupee ends lower:
Cyient joins Emergent Alliance:
European markets trade lower:
Rupee extends losses:
Dr Reddy’s Labs Q4:
RIL RE jumps 39%:
L&T Infotech jumps 6%:
Tata Steel allots NCDs:
Indices erase gains:
Navneet Education redeem commercial paper:
Infosys partners with Rhode Island:
Rupee erases gains:
RIL rises 2%:
Dr Reddy's Labs share price gains:
UltraTech Cement jumps 2%:
Bajaj Finance up 2%:
Tata Power gains:
Reliance Industries allots NCDs:
US markets end lower:
Wall Street ends lower:
Ajit Mishra, VP - Research, Religare Broking:
We feel it’s a breather after the sharp fall and further rebound in the banking pack may extend this bounce ahead. However, sustainability would be difficult at a higher level, so traders should not go overboard and continue with the stock-specific trading approach.
Among the sectors, we’re seeing consistent buying interest in defensive viz. pharma, FMCG and select IT and we suggest preferring these sectors over others for long trades while the underperformance may continue from the banking, financials and metal pack.
Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas:
The hourly chart shows that the Nifty has now reached the junction of the 40 hour exponential moving average & the hourly upper Bollinger Band. The chart also reveals that the index has a potential to form a bearish Flag pattern. Thus 9100-9130 is an immediate hurdle zone to watch out for.
Failure to sustain over here would push the index into the next leg down. On the other hand, 9000-8950 will now act as a near term support zone below which larger downside can be expected.
Vinod Nair, Head of Research at Geojit Financial Services:
Benchmark indices closed up by more than 2%, inspite of mixed global cues and unabated increase in number of infections across India. All the major sectoral indices traded positive with the volatility index also decreasing by around 10%. The government cabinet approvals of some of the proposed measures and leaving the door open for further stimulus measures could also have played a part in the positivity. Investors advised to remain cautious.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities:
The reopening of economies in some of the parts of world helped the markets move higher. However, market participants are not fully prepared for this change and therefore indices remain volatile. The US futures jumped 1 per cent during the session and that compelled the short sellers to cover short positions towards the end. As the market has managed to close above the level of 9050, on an immediate basis, Nifty may rise to the levels of 9160/9200.
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