Share Market Today LIVE | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 12 June, 2023

“Nifty has the potential to move to record highs. Autos have emerged as the best turnaround story this year. Apart from financials, capital goods, construction and telecom are on strong wicket. New age digital companies, which have staged a smart turnaround, are likely to remain resilient.”

– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

“An important feature of the current market trend is the outperformance of the mid- and small-cap indices which are up by 17% and 20% in the last 2 months. For individual investors, chasing mid and small- caps can turn out to be a risky game. Therefore, the best way for retail investors to play this trend is through SIPs in these categories.”

– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

MARUTI (PREVIOUS CLOSE: 9628) – SELL

For today’s trade, short position can be initiated in the range of Rs 9,680- 9,720 for the target of Rs 9,500 with a strict stop loss of Rs 9,830. 

ABCAPITAL (PREVIOUS CLOSE: 174) – BUY

For today’s trade, long position can be initiated in the range of Rs 170- 172 for the target of Rs 178 with a strict stop loss of Rs 169. 

GUJGASLTD (PREVIOUS CLOSE: 479) – BUY

For today’s trade, long position can be initiated in the range of Rs 474- 477 for the target of Rs 485 with a strict stop loss of Rs 471. 

Support: 18,530 – 18,500 – 18,450
Resistance: 18,600 – 18,700 – 18,777

– Riches Vanara, Technical and Derivatives Analyst, Stoxbox.

“Fed-funds futures on Friday were pointing to a 71.2% probability that the central bank will announce at the conclusion of its two-day policy meeting on June 14 that it is pausing the interest-rate increases, according to the CME FedWatch Tool. Traders saw a 28.8% chance of a quarter-point rate hike by the Fed. Outcome of the US Fed meet on Wednesday evening could determine the trend of global markets in the near term.”

– Deepak Jasani, Head of Retail Research, HDFC Securities. 

“Despite positive global cues, Indian equities are witnessing profit booking at higher levels and seem to be taking a pause after Nifty saw a run-up of ~7% over the last two months. However, the overall structure remains positive with Nifty gradually moving towards its previous lifetime high,” said Siddhartha Khemka, Head – Retail Research, MOFSL. 

“Market participants are now eagerly awaiting the release of domestic inflation data for May, which is anticipated to show a cooling down from the current level of 4.7%. Global cues will also play a significant role in shaping the market trend, with investors closely monitoring the outcomes of the FOMC meeting and the US inflation print.”

– Vinod Nair, Head of Research, Geojit Financial Services