Clearly, India is growing in leaps and bounds. A new India is emerging.
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Markets all over the world have seen some amount of volatility in the past week or so. In the wake of the elections in Europe, with discussion on the Finance Bill starting today, the Indian market is witnessing a high impact day with mixed cues.
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Retracement levels are being tested and if a recovery comes from the current level or from 16257 or from projection levels of 16167 or 15711 may show reversal to move higher near 18523.
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On Friday, the Nifty closed below the 5,100 level. In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com says, a lot of shorts could have been covered on Friday afternoon. "Donât short now. This is not the time to go short on the Nifty," he advises.
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The Indian market has been trading weak for sometime now. Today, the Nifty has broken the 5,000 mark today. The picture is very negative for the market, says Jai Bala, chief market technician of cashthechaos.com.
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Hemant Thukral, national head-derivative desk, Aditya Birla Money expects Nifty to find some support at around 4,950-5,000 levels.
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Mukul Pal of Orpheus Capitals says, India has underperformed many of its peers around the world. "I think this relative underperformance that India has seen around the world should really see a change of trend. The Nifty sub-5000 should be an extreme low price for us to get in. "
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Nilesh Shah of Axis Direct sees attractive opportunities emerging from the current market turbulence.
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The Nifty opened and started to trade lower throughout the day. The down move was led by the Bank Nifty, which was looking weak in previous days, says Technical Analyst, Mohit Gaba.
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Market analyst Tulsian tells CNBC-TV18, in his analysis of the dayâs market movement, that BHEL is a good buy for investors with a long-term horizon. He also attributes the dayâs fall to the Bank Nifty and says that first two days of the coming week are crucial as the government is to announce relief on GAAR
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Stock market is a strange place. One day you are put on a very high pedestal with investors making a beeline for your stock and the next, you can come crashing down to the ground. While not exactly meeting the same fate, IT (Information Technology) heavyweight Infosys, certainly se
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Cipla's move to slash price of its cancer drug by almost 75% is a strong one, this is not only a humanitarian move, but is a strategic play as well, Vikas Dandekar of Pharmasianews.com told CNBC-TV18.
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In an interview to CNBC-TV18, Amisha Vora of Prabhudas Lilladher says, the Nifty will trade in 5,050-5,500 range for some more time. She doesn't expect 5,050 to break.
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I would wait for a confirmation to go short on the Nifty and the Bank Nifty, says Technical Analyst, Mohit Gaba.
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Sudarshan Sukhani of s2analytics.com says, the Nifty is coming down. "Trend is down. Short on any rally," he advises.
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