An interesting thing to note is the section that is attracting retail money the most on Dalal Street. Retail investors are overwhelmingly present in mid-and small-cap stocks, a segment that risk-taking institutional investors typically stay away from. As of June end, the top 10 companies where retail holding was the highest are Ujaas Energy, Sintex Plastics, Visagar Polytex, Antarctica, Vikas Lifecare, Urja Global, MPS Infotecnics, Ortin Laboratories, Rolta India, Reliance Capital.
Ahead of Market: 12 things that will decide stock action on Friday
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Aditya Agarwala of YES Securities said, “The index has taken support at 14,300 level. The lower end of the broad trading range, which also happens to be the trendline support.”
Mazhar Mohammad of Chartviewindia.in said that a smart recovery from day s low of 14,353 levels depicted a Hammer-like formation, as the bulls tried to chalk out a near-term bottom around 14,300 level.
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NEW DELHI: Nifty had a gap-up opening on Thursday and traded in a volatile range before making a 230-points rebound to close higher for the second consecutive day. The headline index formed a hammer-like pattern on the daily chart.
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NEW DELHI: Nifty opened gap up and made a rebound after its worst session in 6 weeks. The headline index formed a Bullish Harami Pattern pattern on the daily chart which usually signals towards a possible trend reversal.
Mazhar Mohammad, Chief Strategist at Chartviewindia.in said, from a risk management perspective, one can look for relief rally by placing a stop loss below 14,300 level on a closing basis. If Nifty sustains above 14,280 level, it may initially expand to 14,600-652 zone.
“India’s retail inflation for March also rose to 5.52 per cent, however, it did not harm the market sentiment as it was in line with the recent RBI policy forecast. How the lockdowns will affect the economy will determine the trend of the domestic market in the short-term,” said Vinod Nair, Head of Research at Geojit Financial Services.
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