Adani stocks had corrected hugely after the Hindenburg report. The Supreme Court expert panel in its report said that, “ at this stage, taking into account the explanations provided by SEBI, supported by empirical data, prima facie, it would not be possible for the committee to conclude that there has been a regulatory failure around the allegation of price manipulation.”
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The silver lining lies in the fact that the looming June 1st deadline for raising the US debt limit, which could potentially lead to a financial crisis, seems to be having minimal impact on the Nifty. From a technical standpoint, Nifty is expected to maintain a positive bias as long as the support level of 18157 holds. The immediate upward targets lie above the Nifty 18321 level, reaching its record high at 18888. Meanwhile, once Bank Nifty surpasses its all-time high at 44153, we can anticipate a significant extension of its upward trend. Beyond this level, Bank Nifty is poised to swiftly approach the psychological milestone of 45,000. Now, without delving into the intricacies, here is the recommended trading strategy for Nifty and Bank Nifty: Buy Nifty (18314) at the current market price, with a stop-loss at 18105, targeting 18501/18888. For more aggressive traders, consider aiming for the 19000-19150 range. Similarly, buy Bank Nifty (43885) at the current market price, with a stop-loss at 43297, targeting 44153/44751. Aggressive traders can aim for the 45201-45351 range.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
07:34 AM
Quarterly earnings today
Ashok Leyland, NMDC, Biocon, JSW Energy, Amararaja Batteries and a slew of other companies will announce their quarterly results today.
07:33 AM
Markets Live Updates: SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 24 points, or 0.13 per cent, higher at 18,359.50, signaling that Dalal Street was headed for positive start on Tuesday.
07:33 AM
Tech View: Nifty charts show consolidation between 18,000 & 18,400
Headline equity index today formed a bullish candle on the daily charts and negated its lower highs formation of the last four sessions. Now it has to hold above 18281 zones, for an up move towards 18400 and 18442 zones while on the downside supports exist at 18181 and 18081 zones, said Chandan Taparia of Motilal Oswal.
07:33 AM
Markets Live Updates: Tokyo markets open higher
Tokyo stocks opened higher Tuesday, with investors digesting a top US Republican’s comment that no agreement had yet been reached with President Joe Biden on the debt crisis.The benchmark Nikkei 225 index was up 0.60 percent, or 185.59 points, at 31,272.41 in early trade, while the broader Topix index rose 0.42 percent, or 9.16 points, to 2,185.06.
07:33 AM
Wall Street ends mixed as investors await debt ceiling talks
Wall Street finished mixed on Monday, with the Nasdaq helped by gains in Alphabet and Meta Platforms, while the S&P 500 ended near flat as investors refrained from big bets ahead of a fresh round of talks about raising the U.S. debt ceiling.
07:32 AM
Rupee falls 17 paise against US dollar
Declining for the fourth straight session, the rupee fell 17 paise to close at 82.84 against the US dollar on Monday, weighed down by a strong greenback in the overseas market.
07:32 AM
Markets Live Updates: Oil prices rise on outlook for higher gasoline demand, tighter supply
Oil prices climbed for a second day on Tuesday as investors expect a tighter market led by a seasonal rise in gasoline demand and supply cuts from OPEC+ producers, though concerns over the risk of a U.S. debt default capped gains.
07:32 AM
Sensex, Nifty on Monday
The 30-share BSE benchmark Sensex rose 234 points or 0.38% to settle at 61,963, while the blue-chip Nifty index climbed 111 points to 18,314.
