Short-to-medium-term traders with high-risk profiles can look to accumulate the stock for a possible retest of August highs and it could well top 5000 levels in the next 3-4 months, suggest experts.

While holding interest rates, as was expected, Fed Chair Jerome Powell retained a hawkish bias in tone and projected one more 25-basis-point rate hike this year and 50 bps of rate cuts in 2024, versus 100 bps of 2024 cuts in June projections.

From the Sensex pack, HCL Tech, ICICI Bank, HDFC Bank, UltraTech Cement and Nestle opened with cuts, while only Sun Pharma, SBI, Bajaj Finance, and NTPC opened with gains.

Nifty dipping below its previous swing high on the daily chart is indicative of a decline in bullish sentiments and the index experienced a correction following a period of consolidation, Rupak De, Senior Technical analyst at LKP Securities said adding that this could be considered as an early indication of a bearish reversal.

Sensex falls 300 points, Nifty below 19,850; MCX rises 5%, SJVN tanks 9%; M&M, Titan, Tata Motors are some of the gainers in the morning trade.

Jindal Steel's ongoing Rs 240 billion capacity expansion at Angul is expected to drive steel volumes at a strong 16% CAGR over the next three years, according to Vikram Kasat, head - advisory at Prabhudas Lilladher.

India VIX was up by 2.70% from 10.83 to 11.13 levels on Wednesday. Volatility was on the rise and comforted the bears to hit for a profit booking decline.

A midcap scheme considered to be the best fve years ago, may not be the best scheme now. Similarly, the best scheme of today may not be the best scheme of tomorrow. So, a scheme yielding stupendous returns in the past matters little if it is unable to replicate a similar benchmark-beating returns performance in future years. It signifies that the consistency of performance is crucial & centric to the selection of a scheme in an equity category. This is where rolling return holds the edge. We will examine how rolling returns can help an investor select the right funds in the midcap category.

Jindal Steel and Power, a part of the OP Jindal Group, is focused on steel, power and mining businesses. The company’s ongoing capacity expansion is likely to drive steel volumes at a strong 16% CAGR over the next three years, says Vikram Kasat of Prabhudas Lilladher. The brokerage has a “buy” rating on the stock.

At least 15 such high-risk PMS strategies have given returns in the range of 40-73% on a 1-year basis, showed data by investment analytics provider Finalyca.

TATA Steel’s daily trend is sideways. The RSI for daily is showing sideways momentum but RSI for monthly and weekly are showing bullish momentum. Based on option chain analysis, the range is between 120 and 135. Let’s plan a trade around this.

RBI approval is with a caveat that HDFC shall not exceed its holding in the bank beyond the 9.5% limit, an exchange filing said. If HDFC AMC's aggregate holding falls below 5%, prior approval of RBI will be required to increase it to 5% or more.

EMS, a company offering water and sewage infrastructure solutions, debuted on the exchanges with a 33.6% premium over the issue price. The IPO received a strong response from investors with an overall subscription of 75.29 times. The proceeds from the IPO will be used to fund working capital requirements and other corporate purposes. The company has executed 67 projects and has an order book of Rs 1,775 crore.

Morgan Stanley maintained an overweight rating on Zomato but raised the target price to Rs 125 from Rs 115 earlier.

The Nifty started lower and was unable to beat the pressure and rise. It saw some stability but still ended negative.

That more elevated future rate path reflects that the economy is holding up better than expected in the face of the Fed's policy changes so far: Officials forecast stronger growth, lower unemployment and slower inflation at the end of 2023 than they had earlier predicted.

The US Fed has spent much of the last 18 months fighting historic levels of inflation, which has decelerated in recent months. The central bank was “a day late and a dollar short” in beginning to raise rates and the rapid increases over the last 18 months were just “catching up,” Dimon said.

GIFT Nifty on the NSE IX traded lower by 48 points, or 0.24 per cent, at 19,857.50, signaling that Dalal Street was headed for negative start on Thursday. Here's a slew of stocks that will be in focus today for various reasons.

From the Sensex pack, HCL Tech, ICICI Bank, HDFC Bank, UltraTech Cement and Nestle opened with cuts, while only Sun Pharma, SBI, Bajaj Finance, and NTPC opened with gains.

ET Now spoke to various experts, and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on Concor and PI Inds, while Nooresh Merani has a buy/sell recommendation on Concor and Federal Bank for today's trading session. Check out the targets and stoploss.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, we have collated a list of four stocks that witnessed a 5-year swing high at the close on September 20, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years.

The MWPL for Hindustan Copper stood at 96.3% on Wednesday with OI reported by Trendlyne at 30.1 million. It was down 0.9% from the previous session. The MWPL for Delta Corp stood at 95.5% on Wednesday with OI reported by Trendlyne at 13.9 million. It was down 4.3% from the previous session.

Rajesh Palviya, Senior Vice President, Technical and Derivatives Research at Axis Securities said that with the festival season in place, the market is expecting a good topline and bottom line growth from the jewellery stocks.

In the NSE list of stocks, six stocks with a market cap of over Rs 100 crore are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on September 20.

In the NSE list of stocks with a market cap of over Rs 1000 crore, five stocks close prices crossed above their 200 DMA (Daily Moving Averages) on September 20, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

That more elevated future rate path reflects that the economy is holding up better than expected in the face of the Fed's policy changes so far: Officials forecast stronger growth, lower unemployment and slower inflation at the end of 2023 than they had earlier predicted.

Going ahead, if the counter fails to exhibit a smart rebound, the price action may dwindle towards Rs 2,288, its 200-SMA. Immediate hurdle comes to Rs 2,477(50 SMA), which must be leaped over to reclaim the losing bias.

Operating income in FedEx's Ground division jumped 59% for the quarter ended Aug. 31. That unit benefited from UPS customers shifting packages to alternate carriers ahead of the Aug. 1 expiration of its contract covering about 340,000 United Brotherhood of Teamsters-represented workers.

The updated projections see the Fed funds target rate edging down to 5.1% by the end of next year, and to 3.9% by the end of 2025. Since the Fed began tightening in March, core inflation has cooled. But its slow descent toward the central bank's 2% target has been slow and uneven. The SEP forecasts inflation to drop to 3.3% by year-end, and to approach the central bank's average annual 2% target.

Bailey and other officials have stressed in recent weeks that, while they might be close to reaching the peak of their run of rate hikes, they would probably have to keep borrowing costs at high levels for a period, dashing hopes of quick cuts.

The U.S. central bank held interest rates steady as expected at the end of a two-day policy meeting but projected another rate hike by year end and monetary policy significantly tighter through 2024 than previously expected.

The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.1970% on Thursday, a day after the Federal Reserve held interest rates steady but stiffened its hawkish stance for future policy.

They expect economic growth to slow next year to about 1.5%, from 2.1% this year, and for the unemployment rate to go no higher than 4.1%, the latest quarterly summary of their projections shows. That's just a smidge higher than the 4% level they see as sustainable in the long-run, and only a few tenths more than its current 3.8% level.

The net long position of foreign portfolio investors decreased from Rs 58,995 crore on Monday to Rs 33,913 crore on Wednesday.

"BCL Industries has seen a multi-year cup and handle pattern breakout with a positive trend from the momentum indicators. Traders can buy for a target of Rs 700 in the next 3-4 months," Gaurav Bissa, VP, InCred Equities, said.

Cipla's subsidiary InvaGen's manufacturing plant has received five inspectional observations in Form 483 from USFDA.