What should investors do?
Nifty is expected to consolidate until it breaches 15,660 or 15,915 on either side. Traders can look to buy ATM (at the money) call options near support levels for Nifty targets of 15,850/15,915. Positional traders can initiate a short strangle in July monthly expiry with 15,500 Puts and 16,000 Calls, combined premium of which is around Rs 175. One can maintain a stop loss of 16,200 and 15,300 for the strangle. The sectors which are exhibiting strength are PSUs, pharma/healthcare and auto. Our top delivery picks are
Tata Power (stop loss Rs 110) and
Tata Motors (stop loss Rs 290) for a potential upside of 15% to 20% from the current levels.
Global cues, healthy Q4 results push markets higher (Ld)
By IANS |
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Bombay Stock Exchange. (File Photo: IANS). Image Source: IANS News
Mumbai, April 26 : Positive global cues along with healthy quarterly results pushed the Indian equity markets higher during Monday s mid-afternoon trade session.
Accordingly, the two key indices had a gap up opening in line with positive global cues .
However, they have been trading flat in a range since opening levels.
Besides, marginal profit booking decline in Pharma counters, all other sectors traded in the green out of which banking and realty space outperformed.
Around 2.35 p.m., the S&P BSE Sensex traded at 48,307.73, higher by 429.28 points or 0.90 per cent from its previous close.
Here s why Nifty may scale the 15,000-mark sooner than expected
Analysts believe the bull roar in the market will continue and Nifty may scale the milestone of 15,000 by the expiry of the February F&O series. February 03, 2021 / 05:56 PM IST
The Indian market continued witnessing a strong wave of buying for the third consecutive session on February 3 as the equity benchmarks - Sensex and Nifty - hit their fresh 52-week highs in the morning trade.
Sensex jumped over 600 points to hit a fresh all-time high of 50,408.47 while Nifty made a fresh peak at 14,839.80.
Analysts believe the bull roar in the market will continue and Nifty may scale the milestone of 15,000 by the expiry of the February F&O series.
Investor wealth further jumps over Rs 3 lakh crore as Budget brings bulls back to markets PTI
The BSE benchmark zoomed 1,553.87 points to 50,154.48 during the morning trade.
Tracking the extremely positive investor sentiment, the market capitalisation of BSE-listed companies jumped Rs 3,04,169.3 crore to Rs 1,95,50,883 crore in morning trade.
“It has been a picture perfect rally in the last two sessions with the broader indices clocking record Budget Day gains and extending them today as well. Although some profit-booking can be expected, but we expect stock-specific action to continue,” said Rahul Sharma, Head – Technical & Derivatives Research, JM Financial Services.
Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61 Monday. Investors became richer by over Rs 6.34 lakh crore Monday as markets gave a big shout-out to the Budget 2021-22.