Market (Page 96)

Buy Limited

Last Close: Rs 305.95

Initiation range: Rs 303-306

Target: Rs 325

Stop loss: Rs 296

has been witnessing correction for the last five months and is currently hovering around the support zone of the long-term moving average of 200 EMA on the weekly chart. Indications are in the favor of marginal consolidation followed by steady rebound ahead. We advise accumulating fresh longs as per the given levels.

Buy Limited

Last Close: Rs 374.90

Initiation range: Rs 368-372

Target: Rs 395

Stop loss: Rs 360

UJJIVAN has been witnessing profit taking for the past two weeks or so, after a sharp surge. Considering its overall uptrend, we feel it’s a healthy correction and the stock is likely to find support around 50-day EMA on the daily chart,

With Wuhan-based spreading fast outside mainland China, risks to global economies could become more pronounced in the next quarter at a time when the is slowing. While the potentially slower is being reflected in our debt market with yields trending lower, it has not yet been reflected in our equity market, SHYAMSUNDAR BHAT, chief investment officer of Exide Life Insurance, tells Nikita Vashisht. Edited excerpts:

The outbreak is continuing to spook sentiment. Despite steps taken by China, the growth forecast for India and the rest of the world have been cut. How do you see the development playing for the

The outbreak would impact the growth not only in China but many other large economies which have trade linkages with it. This is particularly in light of the fact that China’s linkages to global GDP has

At 08:51 AM, Nifty futures on the Singapore Exchange (SGX) were trading 63 points or 0.53 per cent lower at 11,755, indicating a gap-down start for the Indian market on Wednesday.

Here’s a look at the stocks that may trade actively in today’s trading session-

Bandhan Bank: The Reserve Bank of India (RBI) has lifted the regulatory restriction on branch opening, subject to the condition that the Bank ensures that atleast 25 per cent of the total number of ‘Banking Outlets’ opened during a financial year are opened in unbanked rural centres.

Sanofi India: The company’s board has declared final dividend of Rs 106 and a special didvidend of Rs 349.

Wockhardt, Dr Reddy’s: Dr Reddy’s Laboratories (DRL) has entered into a definitive agreement with Wockhardt to acquire select divisions of its branded generics business in

Catch all the live updates of the stock markets here

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The Wall Street’s massive sell-off overnight over the fears of a coronavirus pandemic will be a major trigger for the domestic indices today.

Fears of a pandemic escalated after the coronavirus spread to Spain and dozens of countries, from South Korea to Italy, accelerated emergency measures while Iran’s virus death toll rose to 16. Adding to recent fears was an alert from the US Centers for Disease Control and Prevention on Tuesday warning Americans to prepare for the spread of coronavirus in the United States.

The Dow and the S&P 500 tumbled 3 per cent on Tuesday in their fourth straight day of losses as investors struggled to gauge the economic impact. The Nasdaq Composite also dropped 2.77 per cent.

Today’s session might also see an increase in volatility ahead of the expiry of February series derivative contracts tomorrow.

Breakdown below 11,750 would aggravate the selling pressure in Nifty

Nifty has reached a crucial support zone 11,750-11,783, which happens to be the unfilled gap formed on 4th Feb 2020. Low made on 25th Feb is exactly at the upward sloping trend line adjoining bottoms of 19th Sep 2019 and 3rd Feb 2020. Violation of 11,750 support may drag Nifty towards the 200 DMA support, currently placed at 11,684. The previous bottom on the Nifty daily chart is placed at 11,614, which can also act as far support.

Stock recommendation:

BUY ALKEM LAB (2640) | Target: Rs 2,800 | Stop-loss: Rs 2,500

Stock price has been consolidating for last 10 sessions. Primary trend of the stock is bullish with higher tops and higher bottoms on the weekly charts. Short term moving averages are trading above long term moving averages, indicating