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Nifty: Ahead of Market: 12 things that will decide stock action on Thursday
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USD/ZAR im freien Fall in Richtung des Januar 2019-Tiefs von 13,2338
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Ahead of Market: 12 things that will decide stock action on Friday
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Last Updated: May 20, 2021, 10:20 PM IST
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Analysts said, Nifty may end up going back to a broad trading range if it doesn t end up seeing any followup buying.
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By Sabari Saran
New Delhi: The domestic equity market continued to fall for the second straight day as sharp sell-off in metals and financial counters weighed on investor sentiment. The index breached the psychologically important 15,000-mark, forming a bearish candle on the daily chart.
Analysts said, Nifty may end up going back to a broad trading range if it doesn t end up seeing any followup buying. Nifty will need to hold above the 15,000 level to witness any further bounce. Will the market regain the 15,000 level or see pain in the short term?
NEW DELHI: India’s own ‘meme’ stock,
ITC, has climbed in six of last eight sessions, making traders wonder whether the scrip will finally come out of its painful range after exhibiting extreme rangebound movements for a long time now.
Rangebound trading on the cigarette maker has made it a popular theme for ‘meme’ lovers across social media platforms.
On Monday, the stock rose 0.09 per cent to close at Rs 212.55 in the back of Friday’s 4.45 per cent gain. Technical charts suggest the stock may soon come out of range and test the Rs 250 level.
Aditya Agarwala, Senior Technical Analyst at YES Securities, said the stock has been oscillating in a broad rising channel since the March 2020 crash.
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