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Nifty has support at 5940, 5880 and 5820 levels and will face resistance at 6040, 6065 and 6115. Closing above 6065 and also sustaining above the same may result in fireworks and change the picture in total favour of the bulls. On the downside, 5680 will be the critical level to watch out for
Foreign institutional investors' net sold equity worth Rs 253.84 crore on Friday while mutual funds were net buyers of equity worth Rs 339.64 crore, according to provisional data on NSE
Though the bulls managed to lift the Sensex and the Nifty above 20k and 6k, respectively, they could not hold those levels owing to some profit booking. The same scenario may play out this week as well. The undertone is largely positive, but the trend will remain choppy and the key indices are likely to consolidate after reaching new lifetime highs.
Today, we expect the key indices to be cautious to slightly higher at the opening bell, though the rally in small- and mid-cap shares may continue. But one has to be weary of the spurt in small- and mid-cap stocks, as a steep fall may leave one high and dry
Sensex appears to struggle to close above 20k and today might be the day of the record.IT stocks swung into action with the second rung stocks making come back after a long time
Fed is likely to go ahead with a 25 basis point cut next week and the same is factored in. Definitely the downsides appear to be capped and the major depends on the liquidity and with the holiday season coming up do not expect a run away rally
Reliance Power may be forced to push its initial public offering (IPO) to early next year, as the Securities and Exchange Board of India (Sebi) is still grappling with the fine print of the red herring prospectus.
Buying was observed in Royal Orchid(Rs.146.95)
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