The market breadth was in favour of the declines with 627 stocks advancing while 1050 declined and 369 remained unchanged. On the other hand, in the BSE, 1026 stocks advanced and 1404 declined and 129 remained unchanged.
"On weekly scale, Avenue Supermarts is trading in upward momentum with moderate volume. The weekly Relative Strength Index (RSI) is showing an upward momentum and the MACD is continuously trading above the zero line with a positive crossover," says Abhishek Mondal, Research Analyst, Guiness Securities.
The stock rose by 3.48 percent to end at Rs 1,488.65 on BSE. During the day, it gained 3.90 percent to Rs 1,494.80 -- its all-time high level.
According to Pivot charts, the key support level is placed at 10,376.87, followed by 10,326.93. If the index starts to move higher, key resistance levels to watch out are 10,477.67 and 10,528.53.
Ashwani Gujral of ashwanigujral.com suggests buying Bajaj Finance, Jubilant Foodworks, Avenue Supermarts and Ashok Leyland.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Adani Ports and Sun TV Network and can buy Suprajit Engineering, Avenue Supermarts, Bajaj Finance and Jubilant Foodworks.
The top Nifty gainers included Cipla which was up 1.2 percent, Dr Reddy's Labs gained 1 percent followed by Sun Pharma, UPL and Infosys while the most active stock was PNB which was down 4.4 percent, followed by Biocon which gained 3 percent.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy NIIT Technologies and Indraprastha Gas and can sell Canara Bank.
Ashwani Gujral of ashwanigujral.com recommends buying United Spirits, Jet Airways and Avenue Supermarts.
Though D-Mart remains one of the strongest players in Indian retail, achieving consistent double-digit top-line growth on an already high base with the company owned company operated (COCO) store model will be a tall task given the aggressive outlet additions that it would necessitate.
The government also eased norms pertaining to the aviation sector and gave a go-ahead to 100 percent FDI in construction sector under automatic route.
Motilal Oswal is bearish on Avenue Supermarts has recommended sell rating on the stock with a target price of Rs 873 in its research report dated October 17, 2017.
The top gainers in Nifty50 Index were Hindustan Petroleum Corporation which zoomed 4 percent followed by Bharti Infratel and Bharti Infratel which added 3.71 percent and 2.98 percent respectively. From the oil & gas space, Indian Oil Corporation was the top gainer, up 2.15 percent while 2-wheeler manufacturer Bajaj Auto gained 1.92 percent.
In the Nifty50 Index, the top gainers were GAIL India which was up 2.33 percent followed buy Bharti Infratel which added 1.79 percent while Sterlite Technologies was the top gainer in the BSE which zoomed 8.92 percent.
Nifty on Tuesday was trading in the green up 22.85 points at 10, 012 led by Reliance Industries, Infosys and Lupin which were among the top gainers, up 1.58 percent, 1.34 percent and 2.29 percent respectively.
Reliance Industries and Infosys were among the top gainers, up 1.73 percent and 1.36 percent respectively, apart from stocks like Lupin, UPL and Power Grid which gained up to 2.3 percent. In the Nifty50, the advance-decline ratio was in favour of the advances with 29 stocks advancing and 20 stocks declining.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy United Spirits and SREI Infra and sell Apollo Tyres and Ceat.
Registering a whopping increase of 234 percent since its listing in March 2017, the stock has been a massive wealth creator ever since
According to Prakash Gaba of prakashgaba.com, 9685 is under threat and only a move above 9860 would negate the down move. The crucial support for Nifty is at 9685 and the resistance is at 9860-9911. Bank Nifty on the other hand has support at 23750 and resistance at 24250.
Ashwani Gujral of ashwanigujral.com recommends buying Reliance Industries, Adani Transmission, Allahabad Bank, IIFL Holdings and Bata India.
The company's Q1 net profit increased 47.7 percent at Rs 174.7 crore versus Rs 118.4 crore, in the same quarter last fiscal.
Ashwani Gujral of ashwanigujral.com suggests buying Avanti Feeds and feels that there is more upside in Avenue Supermarts.
DLF,Avenue Supermarts,State Bank of India, and Infosys are on the radar of Kotak Securities
Rajesh Kothari of AlfAccurate Advisors is of the view that one may look at Shankara Building Products.
Ashwani Gujral of ashwanigujral.com feels that Avenue Supermarts may move to Rs 950-1000.