Analysts say the market fall was a knee-jerk reaction to the Russia - Ukraine conflict and are likely to witness a choppy phase before discounting this development and staging a sharp rebound
Coal India, GNFC, Cholamandalam, Fine Organic and Hitachi Energy can easily provide up to 14 per cent upside, indicate charts.
As long as the Russia-Ukraine heat continues, commodities will be the dominating theme versus the consumption theme said B Gopkumar, MD and CEO at Axis Securities.
SpiceJet, Berger Paints and BPCL look weak on charts, while ONGC could gain another 4-8%.
Key commodities such as crude oil, ammonia, urea, potash, and phosphates could move higher over the next few weeks.
Traders should opt to stay on the sidelines as this is an event-driven volatility, and wait for a decisive confirmation
The average daily swing for the NSE Nifty 50 index was 1.45 per cent, the highest in the last 10 months.
13 stocks from the Nifty Midcap index and 18 from the Nifty Smallcap index hit fresh 52-weeks lows during the current week
Our 10 mean reversion scenarios put the Nifty50 December 2022 target at an average of 17,500, said Jefferies
Technical charts suggest the bulls are not ready to give up just yet. Markets can find support at lower levels and move up, provided the news flow does not turn too adverse
The degree of effect on the liquidity will depend on the timing of the LIC offer and trend of domestic and global markets
The Nifty Auto index can rally towards the 12,500-mark on a breakout above 11,900-level; base support seen around the 11,000-mark.
40 per cent correction in Godrej Property should see a smart 11 per cent jump now, technical charts suggest
The technical analyst expects the overall trend for the market to remain choppy, with the NSE Nifty likely to face resistance around 17,639 and 17,794.
In the past one month, the BSE Sensex and the NSE Nifty, shed over 6 per cent each, while crude oil prices soared to an eight-year high at almost $96 a barrel, up nearly 12 per cent.
The NSE IT index has been moving in a tight range, a breakout in either direcion can trigger a 2,000 points movement.
Paytm has dropped 40 per cent on a YTD basis, and Zomato seems to be revisiting its IPO issue price amid market sell-off
FIIs have been on a selling spree across most EMs, including India where they have sold over $11 billion worth of equities since October 2021 when they started to unwind their position here
The Nifty index is now below its 200-DMA level and is near the support zone of 16,800. Severe corrections may happen if it slips below this level
The mid-and small-cap indices on the BSE were down over 1 per cent each as against a similar per cent gain on the S&P BSE Sensex so far this year.