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Sept 13, 2021 4:31 PM

Ajit Mishra, VP - Research, Religare Broking

Markets started the week on a muted note amid weak global cues. Markets will first react to CPI data outcome on Tuesday 14th September. A decisive breakout above 17,400 can again fuel the up move in Nifty else the lacklustre move would continue. Amid all, we remain cautiously optimistic and suggest keeping a check on naked leveraged positions.

Sept 13, 2021 4:24 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty continues to close in a narrow band of 17,353-17,378 over the past 5 sessions. This reflects a lack of enthusiasm on the part of sellers to sell aggressively while buyers keep nibbling at individual stocks. The advance-decline ratio continues to be positive. 17,254-17,437 is the band for the near term for the Nifty.

Sept 13, 2021 4:21 PM

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The Nifty ended the day on a flat note after taking support at the 17,250 level. What needs to be seen is if it decides to go sideways. If that were to happen, we will be locked between 17,250 and 17,450. If we can get past 17,450, we will resume the uptrend and achieve higher targets. A buy on dips would be a good strategy to implement.

Sept 13, 2021 4:19 PM

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

The spot rupee closed 28 paise higher at 73.68 against the dollar on the back of strong demand for dollars from oil marketing companies. Rising oil prices and strong US Dollar Index and weakness in Chinese stocks are helping the rupee to inch higher. The bias remains upward. Over this week, the rupee/dollar can trade within a range of 73.50 and 73.90 on spot.

Sept 13, 2021 4:18 PM

Rupee At Close | The Indian rupee fell 18 paise to close at 73.68 against the US dollar on Monday, tracking a strong American currency in the overseas market and muted trend in domestic equities. The local currency opened at 73.63 and dropped to a low of 73.73 in the day trade.

Sept 13, 2021 4:16 PM

Rahul Sharma, Co-Founder Equity99

Nifty has been constantly consolidating in a range. 17,250 is immediate support to Nifty followed by 17,210-17,175. The hurdle on the upside is placed at 17,370 & cross over can take Nifty to 17,435-17,475 levels. Bank Nifty which is underperforming the market is also travelling in a range. Strong support is placed at 36,150 followed by 36,000-35,900 levels & similarly on upside hurdle for bank nifty is placed at 36,700 and crossover will take to next resistance level which is placed at 37,000 levels for Bank Nifty.

Markets are still expected to consolidate. We are still bullish on Mid & Small caps as this week many companies have come out of the Trade-to-Trade category and we expect them to be out of the ASM list with the next 3 weeks.

Sept 13, 2021 4:13 PM

Sachin Gupta, AVP – Research, Choice Broking

Technically, the Nifty index is in a bullish trend and continuously hovering above 17,250 marks, which acts as immediate support for the index. On the daily charts, the index has been consolidating between the ranges of 17,400-17,250 levels; any breakout above 17,400 will accelerate the rally towards the new milestone. All the important key indicators are supporting the upward rally in the index. At present, the nifty has resistance around 17,450 levels while on the downside, 17,250 may act as support for the index.

Sept 13, 2021 4:08 PM

Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities

Markets witnessed profit-taking in select frontline stocks as weakness in other Asian markets weighed on Indian gauges. Nifty moved in a range of 100 points and took support near 17,270 after falling sharply in early trades. Over the last four days, Nifty has been hovering between 17,250 to 17,435 levels. At the same time, the Nifty is consistently taking support at 17,250. As long as the index is trading above 17,250, the bullish formation is likely to continue up to 17,450-17,500 levels. However, trading below the same could possibly trigger correction up to 17,200-17,150 levels.

Sept 13, 2021 4:03 PM

Manish Shah, Founder, Niftytriggers.com

Nifty closed the day with a gain and showed a marked recovery from the lows which has been the hallmark of Nifty behaviour since the last 4-5 sessions. International markets closed in the red over a prolonged weekend. Despite this decline markets Nifty closed in the positive. Nifty showed a long-tailed candle that suggests that there is latent buying at lower levels. MACD remains bullish and the directional movement system also shows the presence of a strong trend.

Nifty needs a breakout above 17,450 for a continuation to 17,720-17,820 till the end of monthly expiry. Over the next 2-3 days a rally to 17,556-17,580 is possible. Support for Nifty is at 17,250-17,270 which is a zone tested and it has been held for several days.

Sept 13, 2021 3:55 PM

Market At Close | Midcaps outperform with market breadth slightly in favour of declines

Sept 13, 2021 3:45 PM

Market At Close | Sensex & Nifty recover from lows to close near flatline.

Sept 13, 2021 3:45 PM

Market At Close | Here are the highlights of today’s trading session

-Sensex & Nifty Recover From Lows To Close Near Flatline

-TCS, Kotak Bank, HDFC & Hindalco Lift While RIL, ICICI & HDFC Bk Drag Market

-Midcaps Outperform With Market Breadth Slightly In Favour Of Declines

-Nifty Closes 14 Points Lower At 17,355 & Sensex 127 Points Lower At 58,178

-Nifty Bank Falls 211 Points To 36,472 While Midcap Index Rises 132 Points To 29,473

-Coal India Top Nifty Gainer On Likely Price Hike Of Dry Fuel

-Hindalco Continues To Move Higher On Rising Aluminium Prices, Stock Up 3%

-Metal Stocks See a Buying In 2nd Half Of The Session, Tata Steel Up Nearly 2%

-BPCL, TCS, Wipro, IOC, Maruti & Bajaj Finserv Record Healthy Gains Too

-Reliance Ind Top Nifty Loser After The Postponement Of JioPhone Launch

-Four Nifty Stocks Including Hindlaco, BPCL, HCL & Bharti Hit 52-week Highs

-City Gas Cos Rise On Oil Secy’s Comment Of Them Getting Higher Gas Allocation

-Voda Idea, AU SFB, MCX, IndiaMART, Trent Ashok Leyland Top Midcap Losers

Sept 13, 2021 3:38 PM

Closing Bell | The Indian equity benchmark indices Sensex and Nifty ended lower on Monday amid selling in banking and financial stocks. The Sensex fell 127.31 points, or 0.22 percent, to close at 58,177.76, while the Nifty ended 13.95 points, or 0.08 percent, lower at 17,355.30. Broader markets outperformed the frontliners, as the smallcap and midcap indices closed half a percent higher each.

Among sectors, gains were seen in IT, metals, realty and pharma stocks, while energy and financial indices ended in the red. Reliance Industries, ICICI Bank, SBI Life Insurance, Hindustan Unilever and HDFC Bank were the top Nifty50 losers, while Coal India, Hindalco Industries, Kotak Mahindra Bank, Tata Steel and BPCL were the top index gainers. Read here

Sept 13, 2021 3:37 PM

Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some lackluster movement and an attempt to hold the level. The market witnessed a small correction and a reversal from the support of the Nifty50 Index level of 17,250. It is suggested that 17,200-17,250 will be an important support zone for the market to stay positive in the short term. If the market is able to sustain the level of 17,200-17,250, it can witness higher levels of 17,500. The technical indicator suggests a volatile movement in the market in a small range between 17,200-17,500.

Sept 13, 2021 3:27 PM

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