The key support for the BSE Sensex stands at 76,300; whereas, the NSE Nifty 50 index could test 23,300 or dip to 23,150 levels; suggests technical chart.
Markets Today Highlight: FMCG and PSU Bank shares bore the brunt of the selling on Friday after RBI, as expected, announced a 25 bps rate cut. Mid- and Small-cap indices finished on a mixed note.
Technical chart shows that NCC and Sonata Software shares were seen testing multi-year supports; break of the same can trigger a deeper fall at these counters. Check key levels for these 5 stocks here
Slowing corporate earnings, FPI outflows behind valuation reassessment, say experts
On Thursday thus far, Nifty Bank, Nifty PSU Bank and Nifty Financial Services quoted with losses up to 0.8% in a slippery market; technical charts hint up to 8% potential upside on these indices.
Thermax was seen testing the super trend line support on the monthly scale for the first time since January 2021, while Timken India after September 2019; for trading guide check key levels here.
However, the firm is not looking to raise any more for at least 12 months, having just closed Rs 816 cr in fundraising, said Managing Partner Laxmikanth V
Technically, a RSI reading above 70 is considered overbought for the stock, which could mean the stock may consolidate or correct in the near-term; but not necessarily fall.
Technical charts suggest that HEG stock is likely to witness another 25 per cent fall from present levels; while Nuvama Wealth could witness a relief rally towards Rs 6,125.
The Nifty Realty index has surged 14% in the last 7 trading days, with select stocks rising up to 27% in anticipation of a rate cut in the upcoming RBI Policy. Here's technical view on realty stocks.
The NSE derivatives data show that FIIs continue to hold a bearish bias, with 8.5 short positions in index futures for every long bet.
The company bucked the slowdown in the discretionary space by reporting a robust performance for its mall portfolio in the December quarter
The Indian government said people earning up to 1.28 million rupees ($14,791.53) per year will not have to pay any taxes, raising its threshold from 700,000 rupees
Metropolis Healthcare, Alembic Pharma and Tejas Networks are the other 3 stocks to witness a 'Death Cross' on the chart in recent days; technically this is a negative development for these stocks.
On the last 3 Budget days, the Nifty ended marginally in red; the NSE benchmark has ended lower on 5 out of previous 7 occasions when finance minister Nirmala Sitharaman presented the Union Budget.
BAFs provide an asset allocation tool for investors that are relatively hassle-free and help investors deal with market gyrations better through relatively emotionless investing
Analysts and investors will keep an eye out for management's guidance on demand and growth outlook
Markets Today Highlights: Among the broader markets, the Nifty Smallcap 100 index gained 0.12 per cent, while the Nifty Midcap 100 index edged lower by a marginal 0.01 per cent
JK Paper reported a 72 per cent decrease in consolidated net profit of Rs 65.39 crore as compared to a profit of Rs 235.11 crore a year ago
The improvement was due to higher metal grades and better domestic coal availability, supported by increased renewable energy