Bulls vs Bears: Here's what to expect on Dalal Street today
Sensex fell 1,045 points to 51,495 and Nifty ended 331 points lower at 15,360 in the previous session.
- Jun 17, 2022,
- Updated Jun 17, 2022 7:17 AM IST
The Indian market ended lower in the previous session as global markets turned volatile post a brief rally on the Federal Reserve rate hike. Sensex fell 1,045 points to 51,495 and Nifty ended 331 points lower at 15,360. The crash in the benchmark indices came after a rally in the morning session following a surge in global peers.
Tata Steel, Tech Mahindra and Bharti Airtel were the top Sensex losers falling up to 6.04 per cent. Nestle was the sole Sensex gainer, rising up to 0.30 per cent. BSE midcap and small-cap, indices slipped 513 points and 718 points, respectively.
All 19 BSE sectoral indices ended in the red.
Here's a look at what analysts said about the direction the market is likely to take today.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
"The strategy should be to short trade if Nifty bounces to given levels and place a stop loss at 15800 or buy Nifty if it drops to 15,100-15,000 with a stop loss at 14,950."
Prashanth Tapse, Vice President (Research), Mehta Equities
"We suspect bulls will have to battle hard in the backdrop of a hawkish Fed and RBI, spiking oil prices, inflation concerns, growth fears and persistent FIIs selling. Technically speaking, the immediate support for Nifty is seen at 15,000 mark. Below 15,000, expect the Nifty to quickly slip towards 14,251 mark."
Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One
"Going forward, our market is likely to remain volatile in the near term and is expected to mirror the moves from the global peers. Looking at the recent fall, it is advised to avoid undue risk and stay light on positions. Also, one needs to keep a close tab on the geopolitical developments and avoid aggressive bets till the volatility looms over."
The Indian market ended lower in the previous session as global markets turned volatile post a brief rally on the Federal Reserve rate hike. Sensex fell 1,045 points to 51,495 and Nifty ended 331 points lower at 15,360. The crash in the benchmark indices came after a rally in the morning session following a surge in global peers.
Tata Steel, Tech Mahindra and Bharti Airtel were the top Sensex losers falling up to 6.04 per cent. Nestle was the sole Sensex gainer, rising up to 0.30 per cent. BSE midcap and small-cap, indices slipped 513 points and 718 points, respectively.
All 19 BSE sectoral indices ended in the red.
Here's a look at what analysts said about the direction the market is likely to take today.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
"The strategy should be to short trade if Nifty bounces to given levels and place a stop loss at 15800 or buy Nifty if it drops to 15,100-15,000 with a stop loss at 14,950."
Prashanth Tapse, Vice President (Research), Mehta Equities
"We suspect bulls will have to battle hard in the backdrop of a hawkish Fed and RBI, spiking oil prices, inflation concerns, growth fears and persistent FIIs selling. Technically speaking, the immediate support for Nifty is seen at 15,000 mark. Below 15,000, expect the Nifty to quickly slip towards 14,251 mark."
Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One
"Going forward, our market is likely to remain volatile in the near term and is expected to mirror the moves from the global peers. Looking at the recent fall, it is advised to avoid undue risk and stay light on positions. Also, one needs to keep a close tab on the geopolitical developments and avoid aggressive bets till the volatility looms over."