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Jay Thakkar, technical analyst at Anand Rathi expects the Nifty should remain in a range of 9,000-9,200 until the expiry.
He said the market look sideways to positive till 9,000 levels are not broken on a closing basis. “If it breaks above 9,200 then it may head to 9,400 and if it breaks below 9,000 then it may head to 8,700,” he told BloombergQuint in a phone conversation.
Thakkar is bullish on cement, I.T. and capital goods stocks. “In terms of stocks, I like Cadila and Havells right now,” he said.
Shares of tyre companies rose between 1 to 3 percent on reports the commerce ministry will meet tyre companies to discuss anti-dumping duty on March 28.
The Directorate General of Anti-dumping and Allied Duties, in its investigation, has found sufficient prima facie evidence of dumping of the tyres by Chinese companies, newswire PTI reported on Sunday.
Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost imports.
Shares of Apollo Tyres and Goodyear India rose more than 2 percent each, MRF was up 1.2 percent, JK Tyre gained 2.9 percent while CEAT rose nearly 2 percent.
#BQSpotted by @shraddha_babla | Oriental Hotels rallies as much as 16.3%.https://t.co/jmQLzvK01T pic.twitter.com/TzV9qjBtl1
— BloombergQuint (@BloombergQuint) March 20, 2017
Modi's magic is casting a spell on Indian stocks, reports @SantanuChakra.https://t.co/6CdisJ54zh pic.twitter.com/rC9KB2KwHs
— BloombergQuint (@BloombergQuint) March 20, 2017
Cabinet approves a set of four supporting legislations for Goods and Services Tax rollout. pic.twitter.com/ZAmHdz8141
— BloombergQuint (@BloombergQuint) March 20, 2017
For more details on deal structure etc., click HERE
Pawan Munjal, Renu Munjal, Sumant Kant Munjal of promoter entity Brijmohan Lal Om Prakash Partnership Firm to transfer 8.97 percent stake to another promoter entity Bahadur Chand Investments
The rupee strengthened by 9 paise to trade at 65.37 against the dollar in opening trade.
A weak dollar in overseas markets and selling of the U.S. currency by exporters and banks supported the rupee in opening trade, forex dealers said. Further, a higher opening in the domestic equity market and strong FII inflows influenced the rupee uptrend, they added.
On Friday, the rupee had lost 5 paise to end at 65.46 against the U.S. currency on dollar demand from importers and suspected RBI intervention, ending its four-day winning streak.
(PTI)
Movers & Shakers: Idea Cellular, Dena Bank, HSIL, Smartlink
Rupee's surge may push Indian central bank to use rare cash tool, reports @anir_nag.https://t.co/AwoSPAyVTJ pic.twitter.com/eJA4WkkIsK
— BloombergQuint (@BloombergQuint) March 20, 2017
For a complete list of stocks to watch, click HERE
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The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, gained 0.2 percent to 9,146.
Asian stocks declined in early trade, as a dearth of risk appetite greeted markets at the start of the week. Hang Seng contracts were flat, while Japan’s stock market was closed Monday for a holiday. Meanwhile, the yen touched its strongest since February 28.
Global stocks are coming off their best week since January after central banks in the U.S. and China raised interest rates. Volatility remains low across markets from equities to currencies and fixed income as investors place faith in the emerging global economic recovery.
Oil prices held below $49 a barrel as the increase in U.S. drilling offset the prospect of Organisation of Petroleum Exporting Countries extending an output-reduction deal and money managers cut bets on rising West Texas Intermediate crude by a record.
U.S. shale producers extended drilling expansion into a 10th month, Baker Hughes Inc. said. Meanwhile, bets on rising WTI crude were reduced by the most on record in data going back to 2006, according to the U.S. Commodity Futures Trading Commission.
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