According to the technical analyst, the indices current market price, and identified short-term bullish trend, presents an opportunity for investors to potentially generate positive returns
The foreign brokerage firm expects Nifty to drop to 16,000 levels as they foresee global slowdown, volatile commodities, peak urban demand/slow rural revival as some of the risks for earnings.
The PCR for Nifty and Bank Nifty for the April series is above 1, suggesting presence of strong Put writes for both derivatives.
CLOSING BELL: The gains in benchmark indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports
CLOSING BELL: The BSE IT index plunged 4.7 per cent, while the FMCG and Bankex gained 1 per cent and 0.3 per cent, respectively. Midcap and SmaIlcap indices too outperformed in trades on Monday.
In case the Nifty faces resistance at 17,858, Ravi Nathani recommends adopting buy on dips strategy with support around 17,610 and lower levels.
After outperforming over the past two years, Indian stocks are Asia's worst performers in 2023 amid concerns over monetary policy tightening and weak sentiment due to value erosion at the Adani Group
Will remain slightly Overweight India in the Asia Pacific ex-Japan relative-return portfolio, says Christopher Wood, global head of equity strategy at Jefferies in his GREED & Fear note to investors.
Despite high volatility in the months of March the Nifty has ended higher in five of the last seven occasions.
Rising interest rates, coupled with this year's rout in the Adani conglomerate's stocks, have also weighed on the local market
Key index providers such as MSCI, FTSE, and the homegrown Nifty undergo quarterly, or semi-annual rejig of their indices. Read more to find out what it means and how it affects stocks
Looking from a medium-to-long term perspective, India is well positioned to deliver growth, both from the economy and equity market point of view
Banking stocks witnessed intense selling pressure in the latter part of last week
According to the technical analyst, since the Nifty IT index trades at 30,870.20, it is on the verge of a positive breakout as it hovers near the key level of 31,255
Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower
Adverse feedback could lead to reduction in weightage of Adani stocks in MSCI indices
The stock was widely expected to get added to the index, but does not have enough free float market cap to dislodge BPCL
According to the technical analyst, the Nifty 50 is expected to get strong support in the range of 17,925 to 18,000.
Closing Bell: Within sectors, the Nifty metal index closed with most strength, up 1.5 per cent, followed by financials and pharma pockets, while PSB index slumped the most by over 1 per cent
According to the technical analyst, the near-term trading range on the Nifty is 18,149 - 17,760, close above or below would add trigger in the direction.