News

This is a Mint Premium article gifted to you. Subscribe to enjoy similar stories.

Markets remained volatile on May 14, with early gains quickly erased due to profit booking and persistent caution around geopolitical tensions. While the Nifty and Sensex ended marginally higher, sentiment was subdued as banking stocks dragged, even as IT, media, metal, and realty provided support at lower levels.

The Sensex closed 182 points higher at 81,330.56, while the Nifty added 88 points to end at 24,666.90. Mixed global cues and ongoing uncertainty continue to weigh on investor confidence. Domestic macro signals offer some relief, but it remains to be seen whether they can support the market in the coming days.

Also read: Tata Motors’ windscreen is hazy amid the fog of tariffs

GREENPANEL : Buy CMP and  dips to ₹230, stop ₹223 target ₹281- 298

SOLARA : Buy CMP and  dips to ₹550, stop ₹540 target ₹610- 625

With no clear trend emerging, the market now appears to be drifting into a range-bound scenario, as hesitation continues to linger. The absence of directional cues is holding back many participants, and the gradual movements, amid mixed information flows, are preventing any strong continuation.

We continue to highlight the same zones shared yesterday, as there has been little change in the options data. This suggests that levels around 24,600 remain a good area to consider for a long position, while any move below 24,500 would indicate a breakdown.

All hope is not lost, however. Q4 numbers have been better on a year-on-year basis, and if that helps ignite a trend, we may see a potential revival. With the momentum indicator also charged up, the focus could remain on a possible recovery. 

Also read: Five fundamentally strong stocks down nearly 40% in the past one year

Source: TradingView 

Also read: Accenture and Infosys have beaten TCS. What is N. Chandrasekaran planning?

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.

You are just one step away from creating your watchlist!

Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

Your session has expired, please login again.

You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.

This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp