Stock in Focus: On the Singapore Exchange, Nifty Future is down by about 0.50 per cent or 76.50 points and is at 17541.50. Due to this, the BSE Sensex and Nifty 50 are showing signs of opening with a fall. This week, the eyes of the market will be on the earnings of IT companies in the third quarter, RBI’s monetary policy and the country’s service PMI on the domestic front. Apart from this, the market will also keep an eye on the dollar index, US bond yields, rupee prices, Brent crude and foreign institutional investors’ investments.
Technical analyst believes that the market will remain volatile in the coming trading days and Nifty 50 may have to face resistance at the level of 17650-17750. However, the 17400-17300 level can act as support for the positional traders. According to Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities, Contra traders can enter at the support level of 17300 but must put a stop loss of 17250. Chouhan has advised investors to book partial profit at the level of 17650-17750.
Today the focus will be on these stocks
- ZEEL: Zee Entertainment Enterprises Limited has filed a petition in the Bombay High Court on Saturday. In this petition, the demand for convening an Extraordinary General Meeting (EGM) by a foreign investor Invesco has been sought to be illegal and invalid.
- HDFC Bank: NSE International Exchange (NSE IFSC) informed on Friday that Masala Bonds in addition to HDFC Bank has been listed on its Debt Securities Market Platform. NSE IFSC is a wholly owned entity of NSE.