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Ahead of Market: 12 things that will decide stock action on Wednesday

Ahead of Market: 12 things that will decide stock action on Wednesday SECTIONS Share Synopsis Overall, market breadth remained in favour of bulls. As many as 186 stocks on the BSE 500 index settled the day in green, while 312 settled the day in red. Getty Images Related NSE Explore Now NEW DELHI: Nifty opened above the crucial 15,000 mark and held the levels despite a volatile trade as the headline index formed a small bullish candle with a long lower shadow on the daily chart. Rohit Singre, Senior Technical Analyst at LKP Securities, said, Nifty managed to crossed the 15,100 zone decisively which acted as a strong hurdle previously. We may see some more positive move going forward if it manages to sustain above the 15,100 zone on an immediate basis. Nifty has a strong support at the 15K mark and hurdle zone for Nifty is coming near 15,170-15,250 zone.

market outlook: Ahead of Market: 12 things that will decide stock action on Thursday

US stocks fall after hitting record highs Wall Street s main indexes turned negative in volatile trading on Wednesday after the S&P 500 and the Dow hit record highs at the open on hopes of faster economic growth. The Dow Jones Industrial Average fell 73.22 points, or 0.23%, to 31,302.73, the S&P 500 lost 9.58 points, or 0.24%, to 3,901.72 and the Nasdaq Composite lost 73.65 points, or 0.53%, to 13,934.05. European shares gain on stimulus hopes European shares rose on Wednesday as upbeat earnings reports from firms including SocGen helped boost optimism around a broader economic rebound, while shipping company Maersk slumped after its quarterly profit missed estimates. The pan-European STOXX 600 index rose 0.26%, with commodity-linked shares and utility stocks leading the gains.

Oriental Carbon & Chemicals consolidated net profit rises 77 00% in the December 2020 quarter

Oriental Carbon & Chemicals consolidated net profit rises 77 00% in the December 2020 quarter
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market outlook: Ahead of Market: 12 things that will decide stock action on Wednesday

NEW DELHI: Nifty reversed its two-session bearish trend with a broader rally and formed a big bullish candle on the daily chart on Tuesday. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said, “If we manage to get past this level, we should be headed to 14,800-14,900. The index has made a strong base at the 14,200 levels, which acted as good support. Going ahead, earnings and global cues would remain on the participants’ radar. Besides, we’re also seeing noticeable buzz across the sectors in run up to Budget. We feel it would be prudent for the markets to spend some time around the current levels. Meanwhile, there’ll be no shortage of trading and investment opportunities, thanks to prevailing earnings season and upcoming budget. Amid all, we suggest not to go overboard and stick to the quality names and accumulate them on dips, said Ajit Mishra, VP - Research, Religare Broking.

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