BSE Sensex and Nifty 50 ended mildly larger following a volatile session on Monday. BSE Sensex ended 125 points or .23 per cent at 54,403, when the Nifty 50 index gained 20.05 points or .12 per cent to settle at 16,258. Broader markets continued to underperform equity benchmarks. BSE MidCap index fell 1.07 per cent or 248 points to 22,956.59 and BSE SmallCap index was down .72 per cent or 194.30 points to 26,612. India VIX, the volatility index, ended flat at 12.61 levels. The newly-listed Rolex Rings share value ended 6.60 per cent down from the opening value, when 29.62 per cent up from situation value.
Gaurav Udani, CEO & Founder, ThincRedBlu Securities
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Buy these 2 stocks for gains Nifty to face resistance at 16500, assistance placed at 15950
Nifty traded in between its assistance of 16150 and resistance of 16350 today. It made a higher of 16320 and a low of 16180 and closed flat with 20 points in positive. The next up move in Nifty will be seen as soon as it closes above 16350. The up move can extend to 16400 and 16450 in the next couple of sessions. As lengthy as Nifty remains above 15900 its trend will stay bullish.
Rohit Singre, Senior Technical Analyst, LKP Securities
Mild positive session witnessed at the get started of the week as the index closed a day at 16258 and formed a Doji candle pattern on the every day chart which represents indecision in the markets. The index managed to survive above its quick assistance zone of 16200 zone also we have been witness superior obtaining interest about mentioned levels which make 16200 quick and superior assistance zone going forwards followed by 16100 zone & holding above mentioned levels structure will be positive which can push the index to its quick hurdle zone of 16320-16400 zone.
S Ranganathan, Head of Research, LKP securities
We witnessed profit booking in Metal stocks today as the street reacted to the earnings released post-industry on Friday. Accumulation was seen in a lot of higher-excellent Midcaps on positive tailwinds regardless of Inflation figures anticipated this Thursday. Interesting to note that the holding of Retail Investors in NSE listed businesses have reached close to 7.2% as of June 30.
Binod Modi, Head Strategy, Reliance Securities
Domestic equities traded sideways today, and profit booking was seen at tops. Notably, financials and IT supported industry and arrested fall, when most essential sectoral indices traded in red today. Visible financial recovery indicating powerful credit development in subsequent months and probably opening of total economy eased issues with regards to asset excellent of banks, which primarily aided financials today. However, promoting stress in midcap and smallcap stocks continued.
Vinod Nair, Head of Research, Geojit Financial Services
The domestic broad industry reversed its early gains following weak worldwide trends and continued promoting in mid and modest caps. However, principal indices managed to close close to last week’s closing due to stability in huge-cap stocks. Specifically, optimism was noticed in media stocks, specifically multiplex, on the expectation of unlocking in important cities. And PSU Banks have been witnessing correction due to delays in privatization when promoting stress forced metal stocks to trade low.