Page 23 - Sameet Chavan News Today

The BSE Sensex rose 200 points in early trade, before trimming gains. At 9.25 am, the 30-pack index was trading 68 points, or 0.13 per cent higher at 52,767 level. The NSE Nifty was ruling at 15,824, up 34 points or 0.22 per cent.

Market outlook Last week started on a pleasant note for the Indian markets as some positivity was seen across the globe. Amid this, the benchmark registered a fresh record high while the banking remained quiet on the first day. During the remaining part of the week, Nifty consolidated in a small range as the banking sector kept sulking. Fortunately, the IT space saw some renewed buying interest which kept the benchmark in the positive terrain to eventually register yet another record high beyo...

The BSE Sensex went on to hit a fresh record of high 52,626.64. Nifty also hit all-time high of 15,835.55 intraday, as the session progressed.

Sameet Chavan of Angel Broking said that the immediate supports for Nifty50 are placed at 15,670 and 15,600 levels.

Read more about Nifty outlook & stock picks by Sameet Chavan: Buy Federal-Mogul, Grasim on Business Standard. Every 100 points upside level in Nifty should be treated as an immediate resistance and now this level comes at 15,800

Analysts said a cut in the GDP growth forecast for FY22 is all likely. To give growth a chance, the six-member MPC is expected to maintain the status quo on the policy rate and maintain an accommodative stance, despite the prevailing inflation worries, they said.

RIL, Sun Pharma, Lupin, Tata Power, Rossari to remain in focus

Stocks to watch out for today: RIL, Gujarat Gas, Pan Electronics, Smruthi Organics, Paten Engg, and NCC

Focus on automobile stocks as their monthly sales figures are to be released from today

Sensex and Nifty ended marginally lower on Tuesday amid profitbooking and positive cues from global markets. Sensex ended 2.56 points lower at 51,934, while the broader Nifty slipped 7.95 points or 0.05 per cent to 15,574.