Nagaraj Shetti says: “Though the market declined by 130 odd points today, I am not expecting a bigger decline from here. The overall near-term trend status of the market remains intact. If Nifty moves below the immediate support of 21,500 levels, there is a possibility of Nifty getting the support of the next lower level around 21,200 to 21,000 levels.”
Non-deliverable forwards indicate the rupee will open at around 83.24-83.25 against the U.S. dollar, compared with its close of 83.23 in the previous session.
Despite a promising start to the festive season, most sectors, excluding jewellery and travel, seem to have hit the snooze button, as per a report released by HDFC Securities.