business

Live: Will Nifty extend gains for third day? Adani Power, JBM Auto & Paytm in focus| Fed Minutes

Nifty once again took support at 19,300 levels and rebounded in late trade to end above the 19,450 mark. Experts believe 19,300-19,250 is expected to be crucial support area for the Nifty50 in coming sessions, whereas the 19,550, which coincides with falling resistance trendline, is likely to play a key role for upward journey and if the said levels get sustained, a sharp rally can't be ruled out. Till then, the volatility and consolidation are likely to persist in the market. Meanwhile, Wall Street slips for a second day after minutes of the Fed’s July meeting indicate that future rate hikes are not out of the picture. The Nasdaq slips over a percent overnight while US futures too tick lower. Asian markets kickstart the day on the backfoot with the GIFT Nifty hinting at a lower start for the Indian market. Lots of stocks to watch out for today including Adani Power, JBM Auto, Essar Shipping & Paytm. Catch Nandita Khemka in conversation with Nirav Chheda, AVP-Derivatives & Technical Research, Nirmal Bang and Hemant Shah, Fund Manager, Seven Islands PMS.

first published: Aug 17, 2023 08:36 am