The sentiment in the Indian market seems to be weakening, and caution is needed at this time. The market has been closing lower for four consecutive days, and yesterday, Nifty fell 46 points to close at 25,986. Closing below 26,000 is psychologically negative. Global market signals are positive, and yesterday, the Dow Jones Industrial Average rose 408 points. SGX Nifty is down 55 points, which shows a red opening for the market today. RBI will announce its monetary policy tomorrow. Whether the Reserve Bank cuts rates or not will provide clarity on the outlook of the rupee. Technically, the last and important support of Nifty is at 25,800.
Factors affecting the market
Financial instruments investments (FIIs) sold shares worth ₹3,207 crore for the fifth consecutive day.
Is there a currency crisis in India? The Indian Rupee has reached a lifetime low of 90.29. The rupee is continuously falling, and this fall is promoting selling by FIIs. Will RBI reduce interest rates tomorrow? The monetary policy of the Reserve Bank will be announced on Friday. There seems to be confusion regarding the rate cut.
Rupee weakness spoils the mood: Continuous selling by FIIs is the biggest factor for the Indian market right now. Weakness of rupee is promoting selling by FIIs.
Important support for Nifty at 25,800: Continuous decline for four days. The last support of Nifty is at 25,800.
Note that for the fifth consecutive day, FIIs sold ₹3,207 crore in the cash market. Net selling of cash, stock and index futures together was recorded at ₹8,432 crore. Meanwhile, domestic funds have bought a record Rs 4731 crore for the 68th consecutive day. Amidst all these factors, know which stocks have been selected by analysts Ansh Bhilwad and Pooja Tripathi under Zee Business’ special program TRADERS DIARY.
shares of ansh bhilwad
cash
Welspun Living Buy Target 151 Stoploss 134
futures
Buy Wipro Target 266 Stoploss 251
options
Buy Biocon 420 Call Target 20 Stoploss 3
techno
Buy Vodafone Idea Target 12 Stoploss 9.8
funda
Buy JSW Steel Target 1250 Stoploss 1090
invest
Buy PVR Inox Target 1245 Stoploss 1072
News
IEX Buy Target 165 Stoploss 138
my choice
KPI Green Buy Target 495 Stoploss 425
Buy Lemon Tree Target 168 Stoploss 160
JK Tire Buy Target 483 Stoploss 455
my best
IEX
Pooja Tripathi’s share
cash
Pine Labs Buy Target 251 Stoploss 244
future
Tata Consumer Buy Target 1158 Stoploss 1124
option
MCX 10200 Call Option @ 325 Target 600 Stoploss 300
techno
MPHASIS Buy Target 2919 Stoploss 2833
funda
HDFC Bank Buy Target 1070 Stoploss 980
invest
ICICI Bank Buy Target 1600 Duration 12 Months
News
Buy RVNL Target 317 Stoploss 307
my choice
Buy JK Cement Target 5819 Stoploss 5648
Buy Hind Copper Target 345 Stoploss 335
Sell Indigo Target 5482 Stoploss 5647
best pick
Pine Labs Buy Target 251 Stoploss 244