Bears took over D-Street on Monday as equity benchmarks continued to fall for another consecutive session, as concerns over global growth weighed big.
Equity benchmarks are likely to see a subdued start, following consecutive sessions of losses.
Bears took over D-Street on Monday as equity benchmarks continued to fall for another consecutive session, as concerns over global growth weighed big.
Asian markets took a beating amid fears of a slowdown in developed economies such as China.
The Sensex saw a fall of over 270 points on Monday, while the Nifty managed to break 10,700-mark as well.
The 50-share NSE Nifty closed below psychological 10,700 levels as well as 200-day moving average. The index was down 90.50 points at 10,663.50 and formed a bearish candle on the daily charts.
Technical Recommendations:
We spoke to HDFC Securities and here’s what they have to recommend:
Kalpataru Power | Target: Rs 430 | Stop Loss: Rs 350 | Return: 12%
Delta Corporation | Target: Rs 280 | Stop Loss: Rs 255 | Return: 13%
Coromandel Intetnational | Target: Rs 499 | Stop Loss Rs 415 | Return: 12%
