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Mazhar Mohammad of Chartviewindia.in advised traders to remain neutral on long side whereas intraday traders can short below 11,900 and look for a modest target of 11,830.
Historical data for the last five years post-Diwali suggest that Sensex has risen 1-4 percent in the period following Diwali. The Sensex rallied by over 45 post-Diwali in 2019, followed by over 3 percent gain in 2015.
Experts are of the view that investors can accumulate the yellow metal on dips for a target of Rs 50920-51100 levels.
The market can correct 10% at any moment of time, more so when the market is pricing in a recovery. So, if it falls go and buy the stocks you found attractive on fundamentals
Shrikant Chouhan of Kotak Securities said the strategy should be to buy Nifty if it crosses 11,950 levels
Mazhar Mohammad of Chartviewindia.in advised traders to remain stock specific by avoiding index bets till Nifty emerges out of the said trading range.
Booking profit could be a trading call, but if investors want to remain invested then some of these stocks could give higher returns in the next 2-3 years
Experts are of the view that investors should wait & watch on corrections for fresh buying in both the precious metals. Crucial support for the yellow metal is placed at Rs 50950-50980.
ACC which hit a fresh 52-week high closed with gains of over 2 percent, Newgen Software rallied more than 9 percent to a new 52-week high of Rs 269 and Ester Industries was locked in upper circuit of 20 percent on Wednesday.
Traders should remain neutral by adopting a stock-specific approach, Mazhar Mohammad of Chartviewindia.in has said.
Momentum indicators are yet to witness an overbought state while there are no signs of divergence displayed on the daily scale.
Rakesh Jhunjhunwala and partner RARE Enterprises increased stake in NCC, Agro Tech Foods and long-time favourite Lupin. For the first time, Jhunjhunwala has taken his stake over 1% in Tata Motors.
Stocks like Britannia Industries which fell nearly 6 percent, Oberoi Realty was up nearly 20 percent, and HCL Technologies closed with gains of more than 4 percent on Tuesday were some of the stocks in focus.
From the next 2-3 years perspective, we are bullish on IT, Healthcare and Speciality Chemicals. Investors can benefit from these themes which are playing out well currently and it is crucial to build a portfolio.
Any minor decline/consolidation could be a buy on dips opportunity for the short term, Nagaraj Shetti of HDFC Securities said
The Nifty is moving in a narrow range of 11,800-11,950 levels. Above 12,050, the Nifty can move to 12,200 in a short period of time, say analysts.
As trade seems to be sideways, Mazhar Mohammad of Chartviewindia.in advises traders to remain neutral on the index.
One-sided growth makes people overestimate their ability to predict market or stocks and misconstrue luck with analysis or understanding, says Wealthyvia.com founder Pritam Deuskar.
Stocks that gave double-digit returns consistently in the last quarter of the previous three calendar years include names like DB Realty, GMM Pfaudler, Dolat Investments, Alkyl Amines, Manappuram Finance etc.
Experts are of the view that precious metal could remain choppy amid volatility in the dollar index and investors can look at buying the dip. Support is seen near Rs 50,500-50,330 per 10 gm.
Stocks like Amber Enterprises which rose nearly 13 percent, Federal Bank gained more than 7 percent, and Spencer Retail closed with gains of over 3 percent were some of the stocks in focus on Monday.
If the Nifty goes past 11,900, then it may even hit 11,950 or 12,050. It is advisable to buy if the Nifty crosses 11,900. Below 11,800, the Nifty can come under liquidation pressure.
Traders should remain neutral and focus on stock-specific opportunities, as the index is neither showing strength nor weakness at this juncture, says Mazhar Mohammad of Chartviewindia.in.
Edelweiss suggests that some market correction cannot be ruled out and one must hedge by buying the December 2020 put option of Nifty at the 11,000 levels.