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Sudarshan Sukhani of s2analytics.com sees Nifty hovering in a narrow trading range. He expects Nifty to find support at 4,800 levels and resistance somewhere above that. He suggests that one should sell if Nifty breaches 4,800 levels.
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Jai Bala, chief market technician of cashthechaos.com says, the market is extremely oversold at this point in time. âYou might see the Nifty bounce to somewhere closer to 5,050." However, he says, the market will then reverse lower and head back to the lows below 4,530.
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State-owned Rashtriya Ispat Nigam may be the first initial public offer (IPO) that would be launched by the government in financial year 2012-13. The company has filed draft red herring prospectus (DRHP) with SEBI for its IPO of 48.898 cro
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Fine dining operator Speciality Restaurants' initial public offer has been subscribed 2.49 times so far on final day, as per data available on NSE website. Maximum bids for the issue were seen in the range of Rs 146-150 a share as against
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In an interview to CNBC-TV18, Rajat Rajgarhia of Motilal Oswal Securities says that investors should look to use the weakness in the market to reallocate their portfolios.
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Speciality Restaurants: Pedigree warrants investment, P/E dampens sentiment!
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The managing director of Specialty Restaurants Anjan Chatterjee tells CNBC-TV18 that they expect their IPO to suceed despite the poor market conditions.
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Due to the volatile environment around the globe and in India, Dilip Bhat of Prabhudas Lilladher expects the Nifty to fall to 4500 levels by December.
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Jai Bala, chief market technician at Cashthechaos.com says the outlook for the market is negative and that the Nifty is headed towards 4800.
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Siddharth Bhamre of Angel Broking says that 4,800 from a derivatives and technical perspective is a very good support.
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Hold short position with a stop loss of 17000. Exit long and sell on rise to 16490-16747 with a stop loss of 17000. Cover short positions at 16036-15326 range, says Hitendra Vasudeo.
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While it's too early to discern trends, earnings growth seems marginally better than expected, says Nandan Chakraborty of Enam.
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It has been a steady downwards trend for the Nifty throughout this week and Sudarshan Sukhani, s2analytics.com sees the market closing the week on a lower note.
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The global markets have been fragile over the last few sessions. Rajan Malik, head equities, private client group of MF Global says, globally there could be further destruction. âI donât think we are going to be decoupled. It appears that we could be headed down even below 4,800 in times to come,â he add
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