Extending weakness, the Indian market fell for the second day in a row on Thursday. The benchmarks closed the day with marginal cuts as Nifty50 closed near 15,800 and the Sensex settled around 53,000-mark.  

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In the broader market, Nifty midcap declined nearly 0.8% and Nifty smallcap dropped by half percent as India VIX closed near 22-mark.  

Sectorally, almost all Nifty indices slipped in the red with some buying interest seen in select banking and financial stocks. Nifty Metal, Auto and IT were the worst heat among sectoral indices.  

"Shaking off a weak lead from the global market, domestic indices recouped its losses backed by banking and energy stocks. Asian and European markets struggled to regain footing amid global recession fears, leading to a resurgent US dollar, which benefitted from safe-haven demand. FII selling nearing exhaustion provided comfort to the jittery Indian market," said Vinod Nair, Head of Research at Geojit Financial Services 

Meanwhile, certain stocks came in focus on Thursday. These stocks were Delta Corp, Dhani Services and Amber Enterprises. Shares of Delta Corp dropped eight per cent, Dhani Services gained five per cent and Amber Enterprises ended with over four per cent cut on Thursday 

Here is what  Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas suggests investors should do with the following stocks. 

1.       Delta Corp 

After a sharp decline from the beginning of April, the stock attempted recovery recently. However it turned out to be a short term bounce & couldn’t develop into a larger structure on the upside. Post the pullback the stock has started the next leg down on June 30. It is set to break the recent low of 162 below which the stock can continue to slide till 150 

2.       Dhani Services 

This is a significantly beaten down counter, which is currently witnessing a bounce back. However recent history shows that the short term bounces in this counter tend to fizzle out near the key DMAs. The same is expected this time as well. So the stock has a limited upside potential with short term upside till 40 – 44 

3.       Amber Enterprises 

The stock had a steep decline in the last couple of months. Although it attempted a bounce in the last few sessions, it is not yet out of the woods. 2400 is a key resistance for the stock. Unless that is crossed on a closing basis, the stock is expected to revisit the recent low of 2040