In the last two trading days, Thursday being a market holiday, the 60-year-old Ahmedabad-based college dropout has been left poorer by around $29 billion, pushing him to the seventh slot in the elite list of world's richest billionaires.

HDFC AMC was the third highest gainer in the futures & options segment, climbing nearly 4 percent to Rs 2,274, the highest closing level since April 7, 2022 and formed long bullish candle on the daily charts with strong volumes. It has seen a breakout of long horizontal resistance trend line adjoining March 16 and December 2 this year.

“Does India truly decouple or have we seen the worst as far as the western markets are concerned? I am not clear. This is a time for consolidation, I do not expect a runaway bull market at any point in time. I would rather be cautious than being very aggressive in this market, let me put it this way. ”

Shares of Vijaya Diagnostic Centre, listed on September 14, 2021, at Rs 542.30, have since then fallen around 30 per cent from their 52-week high of Rs 672.50.

“The valuations currently would look extremely expensive. It is quoting at about 50 times forward PE which is definitely very comparable to the existing FMCG companies. People like to participate in niche companies like Patanjali and if they deliver good in terms of growth and capital raising, that will bring in an additional amount of excitement.”

“I am not really very comfortable with the IT pack. Large will be fine, midcap IT I think will have some pressure because they have to define their volumes, their spot in the game. I am lightening up a little bit in IT. I am not being wild about financials, I have kind of missed this rally and do not like the financials and the banks too much. ”

FMCG stocks are typically known as defensives and usually attract investors' attention amid strong demand led by a good monsoon, fall in commodity prices as well as the festive season.

Godrej Consumer Products, Oracle Financial Services Software, Nuvoco Vistas Corporation, BASF India, Birlasoft, Firstsource Solutions, Gujarat Pipavav Port, TTK Healthcare, Nelcast, and Simplex Realty will have their annual general meetings (AGM) today.

Fortis Healthcare, Alkyl Amines Chemicals, Goodyear India and RCL Retail will have their annual general meetings (AGM) today. The boards of Easy Trip Planners will meet today to consider the Employees Stock Option Plan. Monday is the record date for dividends by Rossell India, Saksoft and Shilchar Technologies among others.

"The trend is likely to remain positive for the near term as long as 16,400 is held on a sustained basis. On the higher end, resistance is seen at 16,800.”That said, heres a look at what some key indicators are suggesting for Tuesdays action

BSE midcap and smallcap indices are down by 9 per cent and 12 per cent, respectively, in the year 2022 so far. On the contrary, the BSE Sensex has dropped little less than 6 per cent during the period. Despite this underperformance, some of the stocks from the midcap and smallcap segment have turned the tide to deliver handsome returns to the investors.

Jubilant Foodworks has given a breakout of a falling trendline with increase in volume activity. With the breakout the stock formed a strong bullish candle and closed at 2-weeks high level.

Tax department officials told ET that the deal was unlikely to face capital gains tax if Holcim had acquired the stakes before 2017, when India and Mauritius renegotiated their bilateral tax treaty and withdrew the capital gains tax exemption available to investments from the island nation.

Media reports claimed that ArcelorMittal, one of the largest steelmakers in the world, is looking to join the race to acquire the companies. This makes the number of perspective bidders to at least four, including Adani Group, JSW Group and UltraTech Cement.

The third likely contender, Kumar Mangalam Birla's UltraTech, has not yet held any such deliberations, though it's pushing to join the fray despite anti-trust worries.

A move below the support of 16,800 levels could open the door down to lower 16,200-16,000 levels in the near term. Any pull back rally could find resistance around 17,100 levels.

"Death Cross signals a bearish trend ahead. But the Nifty50 also made an indecisive Doji as there was no follow up selling after the opening gap down. While the trend stays negative, a bounce cannot be ruled out."

Going ahead Malay Thakkar of GEPL Capital expects Gujarat Ambuja Exports to move higher towards Rs 310 followed by Rs 330 levels. A stop-loss of Rs 275 should be maintained on the downside for this setup.

This is follow-up on Gujarat Ambuja Exports. Can check link to related ideas. Target 1 achieved. Gain of more than 25%. Target 2 is ON. Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.

“One should be looking at specific stocks where balance sheets are strong, which has growth visibility and attractive valuation. These are the three factors which one should keep in mind while looking at buying stocks for the next one-one and a half year. Volatility will continue between now and mid March but we have seen time and again, that 16,800 is a strong support for Nifty. ”