NEW DELHI: Nifty s consolidation run continued to the third consecutive day as the headline index formed a bearish candle on the daily chart. The 50-pack bluechips underperformed the broader market as the rally continued in the midcap and smallcap space.
Ajit Mishra, VP - Research, Religare Broking said, In absence of any major trigger, we may see further consolidation in markets. Meanwhile, the focus should be on position management. Nifty has the next major support around the 14,850-14,950 zone. Nifty made a move towards the mentioned resistance zone of 15,245-15,315. Since the move was lacking strength, the selling started after testing the lower range of 15,245, which eventually resulted in a decent intraday profit booking. Now, although the market looks a bit tentative, it is nowhere close to the trend reversal or sell off. Rather, it needs to be construed as a minor profit booking only, said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.
Read more about Vaibhav Global consolidated net profit rises 40.83% in the December 2020 quarter on Business Standard. Sales rise 28.71% to Rs 724.96 crore
Stocks in the news | IRCTC, Tata Motors, Tech Mahindra, Cipla, TVS Motor, PVR, BEL
United Breweries, eClerx Services, Coforge, Gravita India, Magnum Ventures, Vimta Labs, GHCL, Karda Constructions, are also among the stocks in focus today. Here are some of the stocks in the news today. IRCTC Q3 | Revenue came in at Rs 245.23 crore against Rs 734.98 crore in the year-ago. Income stood at Rs 77.53 crore against Rs 205.55 crore. Pidilite Industries Q3 | Consolidated revenue stood at Rs 2,299.02 crore against Rs 1,926.59 crore in the year-ago. Profit came in at Rs 441.83 crore against Rs 341.78 crore. United Breweries Q3 | Consolidated revenue stood at Rs 3,065.89 crore against Rs 3,254.07 crore in the yar-ago. Profit was at Rs 126.78 crore against Rs 106.68 crore.
Share Market Highlights: Sensex ends 588 points lower, Nifty at 13,635; Dr Reddy, Maruti, Airtel top losers March 27,2021 07:41 IST
Sensex, Nifty Highlights on January 29: Market indices turned volatile and closed 1% lower on Friday, as the budget session of the parliament began with FM Nirmala Sitharaman tabling the Economic Survey 2020-21. Extending fall for another session, Sensex ended 588 points lower at 46,285 and Nifty fell by 182 points to 13,634. Yesterday, Sensex ended 937 points lower at 47,409 and Nifty fell 271 points to 13,967. Traders said volatility is expected ahead of Union Budget 2021-2022 that will be presented on February 1. Analysts are of the view that a continued pullback in domestic markets was mainly led by profit booking ahead of the Union Budget and important global events. The reversal of FII from buyers to sellers in the last two sessions, right ahead of the budget also added to the nervousnes. Meanwhile, December quarterly earnings announcements by B
Stocks to watch today on January 29: Maruti, TVS Motor, IRCTC, GHCL, Cummins, Pidilite, Tata Chemicals among others are the top stocks to watch out for in Friday strading session