The larger trend is down and in favor of bears but there seems to be a critical support on the long-term charts around 10,239 levels where bulls may put up a strong fight.
The BSE midcap index tanked 2.79 percent intraday on Friday crashing over 482 points aided by stocks including GMR Infra which tanked 10.55 percent followed by Vakrangee which fell 10 percent.
The company posted a net profit of Rs 80.67 crore during the same quarter in the year-ago period.
The market breadth was in favour of the advances on Thursday morning with 805 stocks advancing as against 779 declines while 417 remained unchanged. On the other hand, 1152 stocks advanced and 961 stocks declined while 84 remained unchanged on the BSE.
Jindal Saw Q2 profit has risen 27 percent. In an interview to CNBC-TV18, Neeraj Kumar, MD & CEO of Jindal Saw spoke about the results and his outlook for the company.
The firm had clocked a net profit of Rs 47.32 crore in the year-ago period, Jindal SAW said in a BSE filing.
Vishal Malkan of malkansview.com recommends buying Vedanta with a target of Rs 328 and Bata India with a target of Rs 720.
The firm had clocked a net profit of Rs 67.25 crore in the year-ago period, it said in a BSE filing.
Ashwani Gujral of ashwanigujral.com recommends buying Gujarat Fluorochemicals, Motilal Oswal, Jindal Saw and Asian Paints.
Ashwani Gujral of ashwanigujral.com recommends buying TCI, Titan Company, Jindal Saw, Indiabulls Housing Finance and REC.
JSW Saw is in a sweet spot with good visibility in terms of the order book and healthy order execution, says Group CEO Neeraj Kumar.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his view on stock specific ideas.