The market breadth was in favour of the declines with 247 stocks advancing while 1452 declined and 315 remained unchanged. On the other hand, in the BSE, 428 stocks advanced and 2095 declined and 102 remained unchanged.
JM Financial is bullish on Oracle Financial has recommended buy rating on the stock with a target price of Rs 4480 in its research report dated March 06, 2018.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Jet Airways, M&M and Oracle Financial and can sell Repco Home Finance and Reliance Infrastructure.
The market breadth was in favour of the advances on Thursday morning with 804 stocks advancing as against 782 declines while 418 remained unchanged. On the other hand, 1051 stocks advanced and 948 stocks declined while 85 remained unchanged on the BSE.
Technical Analyst Prakash Gaba of prakashgaba.com is of the view that crucial support for the Nifty is at 10028-9996 and the resistance is at 10138-10150. Bank Nifty on the other hand has support at 24800 and resistance at 25100.
Ashwani Gujral of ashwanigujral.com recommends buying Muthoot Finance and Reliance Industries and picks Yes Bank as a sell.
Support for Nifty at 9270-9230 and resistance is at 9375-9414 while Bank Nifty has support at 22400 and resistance at 23000, says Prakash Gaba of prakashgaba.com.
The founders plan to cut their stake in the company by 5.3 percent by selling as much as 4.4 million shares to meet the regulatory condition of having at least 25 percent public shareholding for companies listed in India.
Shares in Oracle Financial Services Software Ltd fall 2.7 percent, tracking a slump in parent company Oracle Corp on Thursday after the US software maker's Q3 revenue fell far short of expectations.
Ajay Srivastava of Dimensions Consulting is holding on to his long positions for now, but is closely watching the market for any sign of trouble. In an interview to CNBC-TV18, Srivastava says traders are likely to cut back on their positions in the run-up to the Budget.
The BSE IT Index is headed towards a 2-1/2 month low, after bellwether Infosys gave a FY13 guidance that was below market expectations.
Buy Polaris Software Lab above Rs 210, says Shardul Kulkarni, Sr Technical Analyst, Angel Broking.