Early on D-Street | Hold long positions with stop loss below 11,400 on closing basis
Episode 1800, Oct 17, 2019, 01:30 AM
A volatile day for Indian markets bulls managed to regain their hold on D-Street. The final tally on D-Street – the S&P BSE Sensex rose 112 points to 38,618 while the Nifty50 added 40 points to close at 11,469 which is higher than Tuesday’s intraday high of 11,462.
Experts suggest buying on dips with support of 11050. Traders are advised to hold long positions, if any, with a stop below 11400 on a closing basis, suggest experts.
Broader markets underperformed with both BSE Midcap and Smallcap index ending on a flat note. Sectoral indices exhibited a mixed trend.
Market participants would keep a close watch on trade talk developments between the US and China, currency and crude oil price movement. And, September quarter earnings.
The earnings season is likely to gain momentum as some of the front liners would be declaring their results in the next few days. Over 40 companies will declare their numbers for Q2 in the next two days which include names like – TVS Motor, L&T Infotech, ZEE Entertainment, RIL, Ambuja Cement, PVR, etc. among others.