"We recommend selling Wipro for the downside target of Rs 245, and keeping a stop loss above Rs 280," says Vinay Rajani, Technical Analyst, PCG Desk at HDFC Securities.
Sales rose to Rs 661.13 crore in January-March 2018 from Rs 589.36 crore a year back.
"The stock can be sold at current level and on the rise up to Rs 1,120 with a stop loss above Rs 1,150 for a target of Rs 1,010 levels," says Ashish Chaturmohta of Sanctum Wealth Management.
Bennett Coleman & Co is said to have bought 34 lakh shares of the firm, aggregating to an equity of 1.8 percent for a price of Rs 438 per share.
"The stock can be sold at current level and on the rise up to Rs 1,000 with a stop loss above Rs 1,030 for a target of Rs 900 levels," says Ashish Chaturmohta of Sanctum Wealth Management.
According to Angel Broking, EURUSD appreciated by 0.13 percent while EURINR depreciated by 0.07 percent during the same time frame.
"The stock can be bought at current level and on dips up to Rs 790 with a stop loss below Rs 760 and a target of Rs 910 levels," says Ashish Chaturmohta of Sanctum Wealth Management.
"The stock can be bought at current level and on dips up to Rs 370 with a stop loss below Rs 360 for target of Rs 410 levels," says Ashish Chaturmohta of Sanctum Wealth Management.
"Traders can buy the stock at current level and on dips towards Rs 280 with a stop loss below Rs 272, and a target of Rs 325 levels," says Ashish Chaturmohta of Sanctum Wealth Management.
The company has reported profit of Rs 3.2 crore in Q4FY18 against loss of Rs 9.6 crore in the same quarter last fiscal.
News agency ANI reported that the Enforcement Directorate seized assets worth the amount in lieu of assets held abroad under Section 37A of Foreign Exchange Management Act, 199 (FEMA).
The top gainers among Nifty constituents were Tata Motors, Dr Reddy's Labs, Titan Company, Bajaj Auto and Bajaj Finance.
The listings portal posted 53 percent growth in its net profit for the March quarter to Rs 39 crore against Rs 25.4 crore posted for the corresponding quarter of last year.
JPMorgan upgraded Colgate Palmolive to overweight with a target price of Rs 1,400. The upgrade is led by expectations of volume growth revival to 5-6 percent.
The loss is projected by a Reuters’ poll in comparison to a net profit of Rs 2,814.82 crore in the same quarter a year ago.
The company has entered into a share purchase agreement with Egyptian Petrochemicals Holding Company (ECHEM) for the purchase of its 23 percent stake in joint venture company.
L&T, so far, has bagged more than Rs 15,000 crore worth of orders during the current quarter, as per the data available on BSE.
Analysts at the firm wrote in a note that export outlook for the company has improved and that markets such as that of Nigeria have also witnessed a recovery.
“Nifty’s previous support of 10,600 will act as immediate resistance. Any bounceback is likely to be capped at 10,670-10,700 levels,” says Ashish Chaturmohta of Sanctum Wealth Management.
A close below 10,560 with a bearish candle on the charts suggests the index may continue facing resistance around 10,560 and 10,630.
HSBC has maintained buy rating on Future Retail with a target of Rs 700 per share.
Higher crude oil prices and the rupee’s weakness will continue to dampen sentiment putting pressure on the fiscal deficit and bond yields in the short term, Vikas Jain of Reliance Securities feels
Rajesh Agarwal of AUM Capital recommends buying Bharat Petroleum Corporation with stop loss at Rs 380 and target at Rs 410, a buy in AU Small Finance Bank with stop loss at Rs 690 and target at Rs 723 and a buy also in Infosys with stop loss at Rs 1162 and target at Rs 1206.
Considering the technical and derivative evidence discussed above, we believe that the trend of the Nifty has turned bearish for the short term.
Indian ADRs ended mostly lower on Monday. Dr Reddy's Laboratories declined 1.23 percent and Wipro was down 1.09 percent.