After The Bell: Market snaps 6-day rally; what should investors do on Wednesday?
For the next few trading session, 15,250/51,800 would be the key resistance level; trading below the same, we can expect intraday correction up to 15,000-14,950/51,000-50,500. February 09, 2021 / 06:46 PM IST
Indian market snapped a 6-day winning streak and closed flat after hitting a record high on February 9. The S&P BSE Sensex touched a record high of 51,835 while the Nifty50 touched a high of 15,257 during the day.
Let’s look at the final tally on D-Street – the S&P BSE Sensex fell 19 points to 51,329 while the Nifty50 closed 6.5 points lower at 15,109.
Lupin Q3 net profit beats expectations, but Street awaits more triggers
The move impacts multinational drugmakers, like Abbott Laboratories Ltd and GlaxoSmithKline Plc, and a number of local firms, including Lupin Ltd, Cadila Healthcare Ltd and Ipca Ltd, all of whom sell drugs added to the list. Photo: Bloomberg
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Lupin s December quarter performance was led by a recovery in US sales growth, though domestic sales also revived after facing covid-19 led disruptions.
US, which remains the largest market and drives overall earnings, grew well during the quarter. North America sales, contributing 37% to overall revenues, grew 4.8% year-on-year. US sales, at $188 million, were slightly higher than $186 million seen in the previous year and $180 million in the previous quarter. The quarter saw three product launches in the US market, taking the number of products in the US generics market to 169.
Technical View: Nifty forms Doji pattern, experts say stay neutral on markets
Experts advise traders to stay cautious in the run-up to the budget. Traders can look at shorting the index below 13,700, signs of strength will only be visible above 13,900-13,929. January 28, 2021 / 05:28 PM IST
The Nifty50, which fell more than 100 points on the F&O expiry day on January 28, made a Doji pattern on the daily charts. The index broke below its crucial support at 13,900 and below its 5-Days EMA.
The supertrend indicator also gave a sell signal on the daily charts. MACD gave a sell signal on January 21.
The Nifty50 fell more than 1 percent or 149 points to close at 13,817. The index retested 13,700 levels but the bulls managed to push the index above 13,800.
After The Bell: Profit-booking hits D-St, here’s what investors should do on Friday
The Nifty has to continue to hold above 14,000-14,050 to witness a fresh move towards 14,250 then 14,400-14,500 zones, while on the downside, major support exists at 14,000 and 13,900. January 07, 2021 / 04:47 PM IST
Profit-booking hits D-Street on January 7, pushing the Nifty in the red after hitting a record high of 14,256 in the intraday trade. The S&P BSE Sensex, too, failed to hold on to gains and closed 80 points down at 48,093. The Nifty ended 8.9 points lower at 14,137.
Sectorally, action was seen in metals, telecom, capital goods as well as realty, while profit-taking was seen in FMCG, IT, power and healthcare stocks.
Technical View: Nifty forms strong bullish candle, 14,000 level eyed
The momentum will remain intact as long as the index trades above the day s low of 13,811 in the coming session, opening the door for the index to hit 14,000 in the near term. December 28, 2020 / 05:04 PM IST
The Nifty50 surpassed the 13,800 level on December 28 to hit a fresh record high of 13,885 in intraday trade, tracking positive global cues. The index formed a bullish candle and continued to form higher highs and higher lows for the fourth consecutive session.
The Nifty, which started with a gap on the upside above 13,800, hit 13,885.30. It saw some profit-taking to slip towards 13,800 to hit an intraday low of 13811. Strong buying support at lower levels, however, helped the index to close 123 points higher at 13,873.