Investors can keep 70% of the portfolio in long-term investments while the rest 30 percent could be in liquid cash.
The BSE Auto index fell 1 percent, Bank Index down 0.9 percent and FMCG index was down 0.7 percent.
Nifty closed at a 3-week low at 11,671 on October 29 and the breakdown of the 50-day average at 11,540 would accelerate the second round of profit-booking, pushing the index lower to 11,200.
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In this episode, Arup Roychoudhury explains the progress in the governments privatisation plans.
Long buildup was seen in Godrej Properties, SRF and Berger Paints, while short buildup was seen in PFC, L&T and Escorts.
Nifty, on a daily timeframe, is trading within a flag formation which is bounded in the range between 11,650 to 12,025 levels.
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Keerthana Tiwari and Gulam Jeelani discuss all the candidates in the fray and what the opinion polls indicate.
The top losers on the Nifty were IndusInd Bank, HDFC, ICICI Bank, Tech Mahindra and Adani Ports while gainers were Bharti Airtel, UPL, M&M, Eicher Motors and Hero MotoCorp.
Bank Nifty is looking much stronger than Nifty and we can expect it to test 25,000-25,250 levels in the coming sessions.
Preeti Kulkarni spoke to Vaibhav Sankla, a veteran in the tax consultancy space and founder of the Billion Basecamp Family Office.
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The top gainers on the Nifty were Kotak Mahindra Bank, Shree Cements, Nestle, Asian Paints and Bajaj Finance.
On the downside, immediate support is seen at 11,717 where a 20-day SMA is placed. Nifty has never closed below its 20-day SMA in the month of October.
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Sectorally, profit-taking was witnessed in all the sectors led by auto, metal and energy.
The ‘RSI-Smoothened’ for Nifty on the weekly timeframe chart has started moving northwards after entering a bullish territory above the 70 mark, which is likely to provide the impetus.
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Keerthana Tiwari and Prince Thomas discuss the top news from India Inc this past week.
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Selling pressure was seen in the BSE Realty index, which slipped 0.94 percent.
The second-quarter result season and rollover movement will increase volatility in individual sectors and stocks.