"All eyes would now be on the outcome of the Jackson Hole meeting, which would provide some direction on interest rates going forward. Nifty in the meantime is expected to remain in a narrow range with some stock-specific action in the broader market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
“Traders should avoid aggressive positions and prefer hedged trades until we see some clarity over the next directional move,” said Ajit Mishra, SVP - Technical Research, Religare Broking. Deepak Fertilisers, NCC, Reliance Industries (RIL), Infosys among stocks to watch on Friday.
Deepak Fertilisers shares will trade ex-dividend on Friday (August 25, 2023). The company had announced an interim dividend of Rs 10 per equity share.
Shares of VST Tillers will trade ex-dividend on Friday. The company had announced an interim dividend of Rs 25 per equity share.
Gulf Oil Lubricants shares will trade ex-dividend on Friday (August 25, 2023). The company had announced an interim dividend of Rs 25 per equity share.
Shares of Jhunjhunwala portfolio stock NCC will trade ex-dividend today. The company had announced an interim dividend of Rs 2.20 per equity share.
Experts are optimistic about RIL stock in the wake of QIA's investment in RRVL. According to them, in addition to the invested capital, the global experience and demonstrated history of value addition by QIA are poised to significantly aid Reliance Retail's global expansion prospects.
Infosys announced a three-year partnership with global tennis star Rafael Nadal on Thursday. Nadal will serve as the global brand ambassador of the IT giant.
"A long bear candle was formed on the daily chart, which indicates a formation of bearish engulfing type candle pattern. The crucial overhead resistance of down sloping trend line has turned out to be a false upside breakout on Thursday. This is negative indication and signals a chance of Nifty sliding down to or break below the immediate support of 19,300-19,250 levels in the near term. Any attempt of upside bounce could find strong resistance around 19,550 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Bank Nifty pullback rally has fizzled out around the 44,900–45000 zone which coincided with the 50% fibonacci retracement level and the previous swing high. The daily and hourly momentum indicators are providing divergent signals and hence a consolidation is likely in the short term. The range of consolidation is likely to be 44,000–45,000," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.