Nagaraj Shetti, Technical Research Analyst, HDFC Securities said,”After showing a sustainable upside bounce from the lows on Friday, Nifty shifted into a decent upmove amidst volatility on Monday”.
The S&P 500 opened higher by 10.22 points, or 0.27%, at 3,817.02, while the Nasdaq Composite gained 47.01 points, or 0.44%, to 10,611.53 at the opening bell.
Benchmark indices ended Monday’s session on a positive note with Nifty topping 18,200 levels at the close. Technicals suggest that market mood is still indecisive.“The domestic markets remained extremely volatile in today?s session. The Benchmark NIFTY50 oscillated in a range of 200 points (approx.) to close on a positive note. On the technical front,18300 is still not breached on a closing basis, since we have seen a pair of DOJI structures on the daily chart which is a sign of indecision between buyers and sellers. So correction till 18000 from current levels is on cards,” noted Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers.Here are 6 stock recommendations for Wednesday:
“Tata Motors’ standalone revenue to largely remain flat QoQ owing to flat volumes. EBITDA margin to expand by ~80bps RM cost easing out. We expect JLR volumes to grow in mid-single digit led by servicing of order book and semiconductor supply improving. EBITDA margin to improve by ~100bps sequentially,” Prabhudas Lilladher said.
The company’s promoters Boman Rustom Irani, Percy Sorabji Chowdhry and Chandresh Dinesh Mehta are the ones offloading stake in the OFS.The retail quota in the IPO has been fixed at 35% of the issue size, 50% for qualified institutional buyers or QIBs and the remaining 15% for non-institutional bidders.
G20 provides a great opportunity for lending a healing touch to the world in the times of challenges and take it back on the path of peace and prosperity, Amitabh Kant said at an event organised by industry chamber PHDCCI.
It was conducted for brainstorming on future foreign trade policy (FTP), and to formulate sector-wise and state-wise export strategies to boost exports from India. Over 75 officers attended the conference. The secretary emphasised the importance of specialising in the specific area of international trade.
As many as 9 judicial members and 6 technical members have been appointed to the NCLT, according to an official order. These members have been appointed for a period of five years from the date of taking charge or till they attain the age of 65 years, whichever is earlier.
“Overall, all things considered, including the risk of oil price, I do believe that the external situation will be manageable, of course with some anxious moments to come,” he said while speaking at an event organised by National Council of Applied Economic Research (NCAER) here.
In case of oilseeds, about 47.10 lakh hectares coverage has been reported as on November 4 of this rabi season, compared to 40.72 lakh hectares earlier. Out of total oilseeds, mustard acreage increased to 45.71 lakh hectares from 38.14 lakh hectares.