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Live: Will Nifty resume up move in earnings-heavy week? HDFC Bank, DMart, Tata Motors in focus

The market is expected to take the support at 19,600 which somewhat coincides with the 50-day EMA (exponential moving average), in coming sessions as breaking of the same can trigger major correction, while the 19,800-19,850 area is likely to be critical for march upwards towards 19,900-20,000 levels, experts said. On October 13, the market managed to cut down losses by more than 100 points on the Nifty50 and settled off day's low, holding the 19,750 on closing and taking support at 19,600 intraday. The BSE Sensex declined 126 points to 66,283, while the Nifty50 fell 43 points to close at 19,751. The broader markets also ended moderately lower with the Nifty Midcap 100 and Smallcap 100 indices declining 0.1 percent and 0.4 percent respectively, while the volatility index, VIX, ended flat at 10.62 levels. This morning global cues are mixed with US futures in the green but Asian markets edging lower in trade. GIFT Nifty is hinting at a muted start for the Indian markets while Brent Crude is back above the $90/barrel mark. Stocks to watch today are the likes of HDFC Bank, Avenue Supermarts, Tata Motors and Delta Corp. Catch Nandita Khemka in conversation with Rajesh Palviya, Senior Vice President Research (Head Technical & Derivatives ) at Axis Securities and Hemang Jani, Market Expert.

first published: Oct 16, 2023 08:35 am