Given the cautious mood after the consistent upward journey of the volatility index and Bearish Engulfing candlestick pattern formation on the daily charts, 22,300—the low of the big bullish candle of April 25—is expected to be a key level to watch for a further downside in the Nifty 50.On the higher side, in case there is a rebound, the index may face resistance at the 22,600-22,650 level, ex...

Shares of REC Ltd., Power Finance Corporation Ltd. (PFC), and IREDA plunged as much as 11 percent on May 6 to give up most of their previous week's gains. PFC, and REC stocks had hit record highs in the week gone by due to a stellar rally on the back of strong Q4 earnings.The sharp fall comes after the Reserve Bank of India's draft guidelines on project financing, which mentioned that 5 percent ge...

TCS stock has formed a good base around Rs 3,800-3,830 and is set to cross the 20-DMA on the daily charts, outperforming the broader market in the coming sessions. On May 6, TCS shares gained over 2 percent to Rs 3,924 on NSE.Arun Kumar Mantri, Founder of Mantri Finmart, said that the overall setup of TCS stock is bullish for the short term. He recommends buying TCS May series call options with a ...

IndusInd Bank shares gained 1.6 percent to Rs 1,507 apiece on May 6 after reports suggested that promoter company IndusInd International Holding (IIHL) will raise its stake in the lender to 26 percent from 16 percent in multiple tranches over the next two weeks.IndusInd International Holding (IIHL), the investment arm of the Hinduja Brothers, received the Reserve Bank of India's nod to hike its st...

Indian benchmark indices were trading range bound amid volatility on 6 May, with Nifty 50 trading at the mid-point of its short-term support and resistance range. At around noon, Nifty was marginally in green at 22,505 points.The derivatives open interest data suggests a potential bounce-back from current levels, said experts, adding that the sustainability remains uncertain. The open interest put...