Why correction in stock market

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Indian shares had yet another forgettable week, with benchmarks ending the week more than 5 percent lower, their worst weekly showing since May 2020. The Nifty corrected sharply to end below 15,200 with a weekly loss of over 5 percent. In the last two weeks, the Nifty has corrected from 16,800 to 15,200, on weak global cues. The momentum readings on the lower time frame chart have now reached the extreme oversold zone and such setups have usually resulted in pullback moves in the recent past. On the daily chart, though prices have formed a lower low, the ‘RSI Smoothed’ oscillator has not yet breached the previous swing low. So, any pullback move from here would result in a positive divergence on the relative strength index (RSI) with the index. The market has recently seen a high inverse … [Read more...] about Hot Stocks | Here is why you should bet on Bajaj Finance, Infosys in short term

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market closed its rangebound session on a negative note on June 29 ahead of monthly expiry of June futures and options contracts, dragged by banking and financial services, FMCG, and IT stocks. The BSE Sensex fell 150 points to 53,027, and the Nifty50 declined more than 50 points to 15,799, while the broader space also closed in the red with the Nifty Midcap 100 and Smallcap 100 indices down 0.4 and 0.6 percent respectively. Higher volatility continued to discomfort bulls, which needs to fall below 20 levels for stability in the market. India VIX, which measures expected volatility in the market, rose 2.09 percent to 21.9 levels. Stocks that were in action and outperformed the broader space included Orient Bell which surged 14 percent to Rs 661, almost hitting the highest closing level … [Read more...] about Trade Spotlight | What should you do with Orient Bell, Adani Transmission, Tejas Networks on Thursday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market wiped out all gains in afternoon and closed lower on June 8 after the Reserve Bank of India hiked repo rate by 50 basis points (bps) to 4.9 percent and raised inflation projection for full year to 6.7 percent (up from 5.7 percent earlier). The BSE Sensex fell more than 200 points to close below 55,000 and the Nifty50 has broken crucial 16,400 mark and lost 60 points to 16,356, continuing downtrend for fourth consecutive session. The broader space also traded in line with frontliners as the Nifty Midcap 100 and Smallcap 100 indices corrected half a percent and third of a percent respectively. About three shares declined for every two advancing shares on the NSE. After the RBI policy, the volatility has fallen below 20 mark, which is a bit of positive for the market but experts … [Read more...] about Trade Spotlight | What should you do with Engineers India, Elgi Equipments, ITD Cementation on Thursday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market ended yet another volatile session on a negative note on June 15, dragged by technology, FMCG, power stocks and index heavyweight Reliance Industries. The losses were, however, capped by Bajaj Finance twins, auto, banking & financial services and metal stocks. At close, the Sensex was down 152.18 points, or 0.29 percent, at 52,541.39, and the Nifty was down 39.90 points, or 0.25 percent, at 15,692.20. The broader space outperformed frontliners. The Nifty midcap 100 and smallcap 100 indices gained 0.35 percent and 0.6 percent. India VIX remained above the crucial 20 mark at 22.15, indicating the trend still favours bears. Stocks that were in action included Strides Pharma Science and Indraprastha Gas , which were among top gainers in the futures & options segment, … [Read more...] about Trade Spotlight | What should you do with Affle India, Indraprastha Gas, Strides Pharma Science on Thursday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market failed to extend its positive momentum seen in previous session as weak global sentiment and selling pressure in every sector pulled benchmark indices down on June 22. The BSE Sensex fell more than 700 points to 51,823 and the Nifty50 plunged more than 200 points to 15,413 and formed a bearish candlestick pattern on daily charts. The Stochastic has given a negative crossover, clearly indicating that sentiments are weak at the moment, while the India VIX, which gauges the expected volatility in the market, remained above 20 levels, suggesting continuity in volatile swings in the market and the trend could remain in favour of bears. The VIX rose by 0.74 percent to 21.30 levels. Broader markets also reeled under pressure after a sharp rebound in the previous session. The Nifty … [Read more...] about Trade Spotlight | What should you do with Matrimony, Sterling Tools, IOL Chemicals, ITI, Trident on Thursday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market remained volatile and managed to gain strength in the last hour of trade on June 28. The benchmark indices ended largely flat as the Nifty50 rose 18 points to 15,850, and the BSE Sensex climbed 16 points to 53,177, backed by positive global cues. The volatility continued to be on the higher side, may be ahead of monthly expiry on coming Thursday, which experts feel needs to fall and sustain below 20 mark for stability in the market going ahead. India VIX, which measures the expected volatility in the market, rose by 2.1 percent to 21.45 levels. The trend was mixed in broader markets with the Nifty Midcap 100 index rising third of a percent and Smallcap 100 index falling third of a percent. Auto, metal, IT, select FMCG stocks and Reliance Industries helped the market close … [Read more...] about Trade Spotlight | What should you do with Force Motors, MRPL, Supriya Lifescience on Wednesday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × It was yet another weak session for the market on June 14 as traders remained cautious ahead of the outcome of two-day meeting of the US Federal Reserve. The BSE Sensex fell more than 150 points to 52,694, and the Nifty50 declined over 40 points to 15,732, continuing southward journey for the third straight day. Select banking, financial services, auto and FMCG stocks pulled the market down on Tuesday. The broader markets also followed the trend of benchmark indices due to negative breadth. The Nifty Midcap 100 index declined 0.23 percent and Smallcap 100 index slipped six-tenth of a percent. About 1,105 equity shares declined against 803 rising shares on the NSE. India VIX, which measures the expected volatility in the market, fell by 2.13 percent to 21.89 levels, but experts said having … [Read more...] about Trade Spotlight | What should you do with Shilpa Medicare, Adani Enterprises, Mahindra CIE Automotive on Wednesday?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The market posted nearly 2 percent gain on June 21 as short-covering and long build-up in beaten down stocks and positive global cues lifted sentiment. The BSE Sensex climbed more than 900 points to 52,532 and the Nifty50 jumped nearly 290 points to 15,639 as breadth was strong. The broader markets also joined the bull run as the Nifty Midcap 100 and Smallcap 100 indices rallied around 3.5 percent each. More than five shares advanced for every declining share on the NSE. The volatility also dipped, helping the bulls to get back at Dalal Street. India VIX, which measures the expected volatility in the market, fell by 5.66 percent to 21.14 levels. If it drops below 20 mark then there could be more stability in the market, experts said. Stocks that were in action included Adani Total Gas … [Read more...] about Trade Spotlight | What should you do with MCX India, Adani Total Gas, JSW Energy on Wednesday?

Mahesh Patil, chief investment officer at Aditya Birla Sun Life AMC, shares his market outlook with CNBC TV18 and talks inflation cycles as well as slowing economic growth. Moreover, Patil sheds light on sector performances and the spaces that seem fairly valued even under inflationary pressure. Here are edited excerpts from his interview: What are your views about the market and where is the cycle now evolving? Has the focus moved from inflation to global growth slowdown? The markets are at a point where we have seen them reacting to all the negative news - interest rate increases, policy tightening and the correction in the P/E (price to earnings) multiples after witnessing excessive liquidity rally seen last year. Now what is to be seen is to what extent will the interest rate rise and policy tightening impact growth and, in turn, earnings growth of companies. Close The latter part is still low as we haven’t seen an earnings cut so far this fiscal … [Read more...] about Interview | Room for auto sector to move up before hitting pre-pandemic levels: Aditya Birla Sun Life AMC’s investment chief