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Below is quote On Today’s Market report by Mr. Rahul Sharma, Co- Founder, Equity99.

Markets ended in red today with Sensex down 17 points & Sensex down 82 points. Nifty Consumer durables were the top performers today followed by automobiles & PSU Banks. Nifty banking index was seen in pressure down 70 points with RBL Bank being top performer up 6.42%. On the contrary Midcap index was up 367 points or 1.16%. Among the Nifty50 pack, M&M was the top performer followed by Tata Motors & HeroMoto Corp, while Britannia, HDFC Bank & Maruti Suzuki were top losers.

Auto Index has started showing some movement in a volatile market with almost all auto stocks being in top gainer. At times the unexpected move is seen in the market so traders are advised to keep strict stop loss to positions. Markets are expected to remain volatile in the coming days.

Nykaa is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care, and fashion products, including their own brand products manufactured by them. The current GMP for Nykaa is Rs 765. It is among one of few profitable start-ups. We take Nykaa as portfolio stock and advise adding this counter on every dip.

Technical Levels-
Nifty50 – After falling continuously for 2 days for tomorrow 18000 will act as crucial support on breaking which we might see 17875 levels and if this level is broken then the next support is around 17750 levels. While on the upper side 18110 will act as crucial resistance for Nifty on breaking which 18175 levels are possible and if it is broken then we might see 18250 levels.

Bank Nifty – For the Banking index, 39275 will act as very crucial support on breaking which we might see 39150 levels and if it is broken then next strong support is around 39000 levels. On the upper side, 39560 will act as very strong resistance on breaking which 39750 will act as crucial resistance and if it is broken then we might see 39840 levels.

Sector in focus – Automobiles, Banks, Metals, IT & Consumer durables.

Results tomorrow – Affle India, Bank of Baroda, CRISIL, Equitas Holding, India Cements, Oil India.

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