Sensex, Nifty end three-day gaining streak; here’s what experts make of today’s trade

1 month ago 22

All Midcap and smallcap indices closed with losses, but Nifty Midcap 50, which was up 0.22%.
(Image: REUTERS)

Sensex and Nifty snapped their three-day gaining streak to extremity Tuesday’s trading league level with a antagonistic bias. S&P BSE Sensex slipped 17 points to extremity astatine 58,279 oregon 0.03% lower. Nifty 50 was down 15.7 points connected closing doorbell settling astatine 17,362, down 0.09%. Bharti Airtel was up 2.79% arsenic the apical Sensex gainer, followed by HDFC, IndusInd Bank, and ITC. Tech Mahindra was the apical drag, down 1.64%. This was followed by Sun Pharma, Axis Bank, and HCL Technologies. Bank Nifty ended the 0.34% little astatine 36,468. All Midcap and smallcap indices closed with losses, but Nifty Midcap 50, which was up 0.22%. India VIX slipped 1.39% connected Tuesday to extremity conscionable beneath 15 levels.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities-

“The marketplace seems to person shifted into a consolidation mode with scope bound action. The contiguous choppy question with insignificant weakness could proceed for the adjacent 1 oregon 2 sessions earlier showing different circular of upside bounce from the lows. Immediate enactment is placed astatine 17250 and the important overhead absorption to beryllium watched astir 17500 levels.”

Vinod Nair, Head of Research astatine Geojit Financial Services –

“The home marketplace traded with precocious volatility arsenic investors locked successful gains from the caller rally & planetary factors. However, the wide marketplace maintained its buoyancy successful segments, which are bound to payment from unlocking. European shares traded with cuts up of the European Central Bank’s argumentation gathering connected Thursday, wherever talks regarding the tapering of plus acquisition programme are apt to instrumentality spot successful the backdrop of rising eurozone inflation.”

Sachin Gupta, AVP, Research, Choice Broking –

“Technically, the Index has been trading successful Higher High & Higher Low formation, which suggests spot successful the counter. On an Hourly Chart, the Index has been uncovering absorption from the precocious set of Bollinger crossing supra the aforesaid tin amusement further upside movement. All the cardinal indicators similar RSI, MACD & Stochastic are supporting the affirmative inclination successful the index. At present, the intelligence level of 17500 could beryllium a absorption portion connected the downside, 17200 whitethorn enactment arsenic enactment for the index.”

Ajit Mishra, VP – Research, Religare Broking –

“Nifty traded volatile successful a scope and settled marginally lower, taking a intermission aft the caller surge. Amongst sectors, IT and banking were laggards whereas telecom, FMCG, and user durables ended with gains. The broader markets besides witnessed nett taking and ended lower. In lack of immoderate large event, planetary cues would proceed to dictate the trend. Indications are successful the favour of immoderate consolidation oregon nett taking frankincense we urge maintaining other caution successful stocks selection. On the benchmark front, Nifty has contiguous enactment astir the 17,200-17,250 zone.”

Mohit Nigam,  Head – PMS, Hem Securities –

“The marketplace is witnessing a continuous affirmative inclination and it has sustained good supra 17,300-350 levels and we judge this up determination volition widen till 17500 level successful the abbreviated term. On the down broadside 17,100 is the contiguous enactment successful Nifty 50 followed by 16,900.”

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