homevideos Newsmarket Newsstocks NewsPositive on pharma, metals, IT space, says JM Financial Services
Positive on pharma, metals, IT space, says JM Financial Services
"Broadly the market remains a sell on the rising market where we have not been able to fill the gap of 14785-14652 that we formed last Monday."
Rahul Sharma of JM Financial Services believed that the Indian markets remain a sell on the rising market.
"Last week, Nifty had formed a long-legged Doji structure along with a double bottom near the 14250 mark. Although recovery was seen, but today the sell-off has aggravated and Nifty has broken that double bottom of 14,250. So the way Nifty is placed currently, it is sector-specific action that is doing well. Broadly the market remains a sell on the rising market where we have not been able to fill the gap of 14785-14652 that we formed last Monday."
He expects pharma, metals, and IT to outperform.
"Sector-specific pharma is doing well. Metals and IT are also holding pretty well but banking and financial is something which is a spot of bother for the Nifty as a whole."
Watch the video for more.
Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
(Edited by : Priyanka Rathi)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: I.N.D.I.A. bloc to hold rally at Mumbai's BKC today
May 17, 2024 5:18 PM
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM