"Friday’s decent correction has validated our stance of staying light at higher levels and now, the way our key indices snapped their 8-days winning streak, it does not augur well for monthly expiry week. If we see some nervousness globally, we may see Nifty50 testing lower levels of 17,600-17,450," said Sameet Chavan of Angel One.
Greenply Industries Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 2226.05 Crore) operating in Building Materials sector.
Century Plyboards (India) Ltd., incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 14907.81 Crore) operating in Building Materials sector.
“Traders will stare at the prospects of 17000 again, for the August expiry, but will fancy slim chances of recovery, should Monday volatility fail to penetrate 17600 and manage to pull back above 17720 which meets the internal trendline. Inability to do so will call for 17300 initially,” he added.
Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1768529.35 Crore) operating in Diversified sector.
"Zomato’s target of reaching a double-digit contribution margin in the long term hinges on a rise in commissions from restaurants (we expect it to rise from 15 per cent in FY22 to nearly 17.5 per cent in FY31F) and charging higher customer delivery fees (we believe this would be difficult, and expect it to remain steady at 6 per cent)," it said.