S&P BSE Sensex was down more than 600 points on opening, giving up 58,000 levels while NSE Nifty 50 was threatening to give up 17,200 levels.
Rakesh Jhunjhunwala’s favourite stock Titan Company has been downgraded by analysts at Ambit expecting revenue growth to moderate as pent-up demand starts to taper.
After Bharti Airtel announced that it will hike the prices of mobile prepaid plans, today Vodafone Idea said it will follow suit and raise tariffs.
The panel explores not only why and how to invest overseas, but also discusses stocks or sectors to invest; tax implications of investing abroad; portfolio allocation; risk factors; returns expectations; exit options; and more.
“Having plunged into the 17350-17166 region on anticipated lines, a consolidation or a bounce-back is in order.
Short build up in the Nifty futures, short builtup in the Bank Nifty Futures and Call writing at 17500-17600 levels Indicates that Indicates that one should be cautious for the markets.
Hence any pullback should be looked at as an opportunity to go short,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
The Rs 600-crore IPO was heavily oversubscribed by investors earlier this month with the overall subscription of the issue reaching a massive 326.49 times the issue size.
Bottom fishers can keep an eye on 17055-16800 zone for accumulating favourite stocks,” said Rahul Sharma, Director & Head – Research, JM Financial.
“Nifty has extended the downturn as expected but the fact that it did not close at its low is some consolation.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of petrol and diesel have been left unchanged for the 19th consecutive day now.
Having declined sharply from the highs, the minor pullback rally from the lows can’t be ruled out in the short term, before showing another round of weakness in the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
However, if we look at the weekly charts, it is observed that in this uptrend since June 2020, Nifty has always managed to find support around its 20 weeks EMA in corrective phases and has resumed the uptrend.
Further data from the U.S., including the Fed minutes from its latest meeting, GDP and initial jobless claims, will be released on Wednesday ahead of Thursday’s Thanksgiving holiday,’ said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.