Bulls vs Bears: Here’s what to expect on Dalal Street today

Benchmark indices Sensex and Nifty closed reduce on Monday amid a weak craze in world-wide markets. Sensex declined 200.18 points to conclude at 57,991.11. Throughout the working day, it tumbled 825.61 details or 1.41 per cent to 57,365.68. Nifty fell 73.65 factors or .43 for every cent to close at 17,241.

IT shares were being the best sectoral gainers with their BSE index zooming 255 details to 28,444. Best losers had been client durables and funds items stocks with their indices slipping 618 points and 315 details, respectively.

This is a seem at what analysts explained about the route the marketplace is most likely to take right now.  

Prashanth Tapse, Investigation Analyst, Senior VP (Study), Mehta Equities

“Traders now seem forward to the regular US CPI report on Thursday amid fears that higher electrical power price ranges could gasoline inflationary pressures. Also commanding interest will be the FOMC minutes to trickle in on October 12th. Technically speaking, the draw back chance for Nifty is now witnessed minimal at the assist amount of 17,000 mark. We expect the Nifty bulls to intention at the 17,500-17,707 zone in the in the vicinity of expression.”

Nagaraj Shetti, Complex Investigation Analyst, HDFC Securities

“The small-term trend of Nifty is weak with substantial volatility. The emergence of sharp getting fascination from in close proximity to the lows could be a cheering component for the bulls to make a comeback. Consequently, one particular may hope Nifty to retest the hurdle of 17,400 stages in the near time period. Speedy aid is positioned at 17,050-17,100 amounts.”

Rupak De, Senior Specialized Analyst at LKP Securities

“The craze is probable to remain sideways in the close to phrase. Over the in close proximity to phrase, the Nifty may go in just the variety of 17,000-17,300. A decisive tumble under 17,000 may perhaps cause a advertising force in the industry. On the better close, a decisive move previously mentioned 17,300 could induce a rally in the direction of 17,600.”

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