Instead of exiting Buy positions out of fear, or restraining yourself from selling after the fall, use Put options to mitigate risk and trade at every opportunity without hesitation.
Sandeep Bagla of TRUST AMC says it is quite possible that markets go through a severe, sharp, and sustained sell-off. Probably defensives like FMCG could fall marginally lesser than other sectors.
For the week, the NIfty was down 1.16 percent. The August low of around 17,150 will be a crucial support and if it is broken, the index can slip below 17,000, experts have said
The Put-Call ratio, a measure of the market’s mood, has slipped to an oversold level of 0.76 so the Nifty can still bounce back from the 17,500-17,300 zone.
The worst is behind Indian corporate earnings. Will prefer domestic consumption stories over globally exposed businesses, Jain says.
CG Power prices after a breakout from double bottom pattern on July 2022 retested the neckline of the pattern and have shown a bounce on the upside, indicating continuation of prior uptrend.
Tata Chemicals was the second largest gainer in the futures & options segment. closing nearly 5 percent higher at Rs 1,150. The stock has seen a robust bullish engulfing candlestick pattern on the daily charts with above average volumes.
Range-bound trade is expected to continue in coming sessions but a break of 17,400-17,500, can drag the index to 17,200-17,300, while on the upside, 17,820 will act as a crucial hurdle
Indian equity market will be vulnerable going ahead due to accelerated tightening of the US Federal Reserve’s balance sheet and higher global interest rates
Chandraprakash Padiyar of Tata Asset Management thinks IT sector is facing an issue of high expectations. Business growth is likely to be somewhere around 10 percent on a sustainable basis for the sector.
On a daily chart, Apollo Hospitals Enterprises is trading in bullish territory after the breakout of the Falling channel and again reclaim the upper band of the pattern, which indicates upward direction in the stock for the short to medium term.
The Nifty50 has taken support at the 17,700 mark following a rangebound trading session on September 21. Hence, if the said level holds in the coming session, then bulls may try hard to take the Nifty50 beyond last Friday's high (17,820), whereas on the other side, 17,500 and 17,400 will remain crucial supports, experts said.
Harshad Patil of Tata AIA Life Insurance says India remains among the few sweet spots in the otherwise tepid global economy. Given this context, we believe that the FIIs cannot afford to ignore the Indian economy for long and would have to invest in the Indian equity markets in the medium term.
Jubilant Pharmova surged nearly 12 percent to Rs 352 and formed robust bullish candlestick pattern on the daily charts with large volumes and also there was a formation of Morning Star kind of pattern, which is a bullish reversal pattern.
Cochin Shipyard has witnessed a primary trend-line breakout on the weekly chart with strong volume followed by a breakout of Bullish Flag formation.
The trend will likely remain positive as long as the index sustains above 17,700. On the higher end, a move above 17,900 can induce a rally towards 18,100 and higher, experts said
All sectoral indices trade in the green so are the broader marker indices. Nifty Metal makes the biggest gain followed by indices representing banks and financials
If India is able to maintain a stable macro-economic environment (fiscal and current account deficit, inflation) and demonstrate consistent corporate earnings growth, over the medium term we should remain an attractive destination for FIIs.
Karnataka Bank stock gained 6 percent at Rs 89.25, continuing uptrend for seventh consecutive session. In last five trading sessions, the volume was remained above average volumes. It has a given a nice breakout of long downward sloping resistance trend line adjoining August 16, 2022 and April 8, 2019.
RPG Life Sciences has broken out from the Bullish Flag pattern on the daily chart. Stock has been forming higher tops and higher bottoms on the daily charts. Recently the stock price registered fresh all-time high at Rs 804 and current levels are very near to that level.
The support is at 17,350-17,400 and a fall below 17,350 can trigger a correction towards 17,000. On the higher end, 17,700 may act as crucial resistance, say experts
One should avoid trading aggressively till the time market stabilises from this turbulence, Sameet Chavan of Angel One advises
Niraj Kumar of Future Generali says the narrative could soon turn towards growth fears versus inflation fears, which will likely lower the US Fed’s hawkishness. This is likely to happen around the end of 2022.
Sumitomo Chemical India share price climbed more than 6 percent to end at record closing high of Rs 524 and formed strong bullish candlestick pattern on the daily charts, engulfing previous six days' negative candle, with above average volumes. It has seen a breakout of long upward sloping resistance trend line adjoining July 15, 2021 and July 12, 2022.
The entire banking space has been on a buying spree since last couple of months. In fact, the banking index managed to clock fresh highs this week and ‘Axis Bank’ is one of the major contributors in the rally.