The next crucial support for the index is placed at 10,440 and a close below this level could take the index towards 10,132 levels, suggest experts.
Strong jewellery offtake in H2 FY19, consequent normalisation of promotional expenses thereof and operational efficiencies in the watches segment will be the major re-rating triggers in the long-run.
Separately, Baron Emerging Markets Fund and its three related entities as well as one Sucharitha Reddy also settled delayed compliance of takeover norms with the regulator on payment of Rs 2 lakh and over Rs 2.7 lakh towards settlement charges, respectively.
Nagaraj Shetti, Technical Analyst, HDFC Securities is betting on these stocks for healthy returns.
Today, USD-INR pair is expected to quote in the range of 72.50 and 73.10, says Motilal Oswal.
The index formed a Hanging Man kind of pattern in the previous trading session and formation of a bearish candle on Monday confirms the formation of an intermediate top.
On the asset quality front, the gross non-performing assets (NPAs) ratio fell to 16.36 percent from 16.66 percent in the previous quarter. The net NPA ratio, too, fell to 7.64 percent, down from 8.45 percent during the June quarter
At the close of market hours, the Sensex closed down 345.56 points or 0.98% at 34812.99, while the Nifty fell 103 points or 0.97% at 10482.20.
HPCL, Tata Motors, IOC, Bajaj Finance and Hindalco Industries lost the most.
The company reported revenue of Rs 2,869.59 crore during the quarter against Rs 2,545.29 crore posted last year. This is a rise of 13 percent year on year.
At the Multi Commodity Exchange, silver for delivery in December was up by Rs 191, or 0.52 percent, to Rs 37,071 per kg in a business turnover of 582 lots.
The breadth of the market favoured the declines with 652 stocks advancing and 1081 declining while 340 remained unchanged. On the BSE, 1031 stocks advanced, 1491 declined and 164 remained unchanged.
Nifty is likely to move in broad range of 10,410 and 10,843 with positive bias and buy on dips could be a fruitful strategy until 10,410 holds.
Investors’ focus should be on sectors which are ruled by planet ‘Shani’ or ‘Saturn’ which will be the ruling planet for Vikram Samvat 2076, suggest astro gurus.
The breadth of the market favoured the declines with 746 stocks advancing and 927 declining while 397 remained unchanged. On the BSE, 1127 stocks advanced, 1189 declined and 153 remained unchanged.
The Q2FY19 earnings season so far has been in line with the expectations. Strong results declared by IT companies, upbeat numbers from RIL and robust growth reported by the FMCG companies are indicative of sustained demand environment.
One can go long in the scrip above Rs 124 with stop loss of Rs 109 for the higher target of Rs 148, says Shabbir Kayyumi of Narnolia Financial Advisors.
It has been trading above its 200-DMA which is found around its Rs 88 levels also implying further strength. Moreover, momentum indicator RSI is also looking firm suggest further move, says Shabbir Kayyumi of Narnolia Financial Advisors.
Formation of Cup and Handle pattern on daily chart is showing bullishness in near term but breakout of the pattern is expected to come above Rs 123 on closing basis, says Shabbir Kayyumi of Narnolia Financial Advisors.
Sustainability of RSI above 60 is also implying upsurge move suggesting a buy in the scrip above Rs 274 for the target of Rs 320 with a stop loss of Rs 252, says Shabbir Kayyumi of Narnolia Financial Advisors.
The share touched its 52-week high Rs 1,444 and 52-week low Rs 694 on 03 May, 2018 and 26 October, 2018, respectively.
At the Multi Commodity Exchange, aluminium for delivery in November edged up by 90 paise, or 0.63 per cent to Rs 143.55 per kg in 225 lots.
Relatively reduced levels of India VIX indicates a reduction in the speed of the move. Overall long setup, however, does have upward-looking directional impulse with headroom up to 11000, says Shubham Agarwal of Quantsapp
Gold to be delivered by far-month February next year was trading higher by Rs 113, or 0.36 percent at Rs 31,408 per 10 grams in a business turnover of 24 lots at the Multi Commodity Exchange.
At the Multi Commodity Exchange, lead for delivery this month was trading higher by 65 paise, or 0.46 per cent at Rs 143.10 per kg in a business turnover of 489 lots.