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“As Nifty is retracing earlier gains, weak stocks become weaker. Chambal Fertiliser has breached the rising channel on the lower side which was bearish development on the weekly charts,” Kapil Shah, Technical Analyst, Emkay Global Financial Services and Trainer- FinLearn Academy, said.

Zensar Technologies Ltd., incorporated in the year 1963, is a Mid Cap company (having a market cap of Rs 4890.71 Crore) operating in IT Software sector.

The global cryptocurrency market cap was trading lower around $831.90 billion, gaining about half a per cent in the last 24 hours. However, the total trading volume dropped more than 3% to $60.09 billion.

The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside.

The Nifty Auto index was trading 0.92 per cent down at 12984.75.

“The fact that Sensex and Nifty are at record closing highs tells us that the buy on dips strategy has worked well in this market. Therefore, this strategy can be expected to work, going forward, too,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

“It takes a degree of discernment and education to get to a point where you realise most of what people are talking about investing is nonsense, it is a waste of time. Forget about the macro, it is not that it is irrelevant, it is very important but the problem is it is not knowable.”

Stocks of Oriental Carbon (Rs 7 per share), PDS (Rs 2.5 per share), MRF (Rs 3 per share), Bayer CropScience (Rs 100 per share), Sundram Fasteners (Rs 3.57 per share), Quess Corp ( Rs 8 per share), RITES (Rs 4.5 per share), Gabriel India ( Re 0.9 per share), Page Industries (Rs 70 per share), Vidhi Speciality Food (Re 0.4 per share) and IRFC (Re 0.8 per share) will trade ex-dividend today.

The Nifty Bank index was trading 0.19 per cent down at 42452.5.

“In IT, our sense is that risk reward is good with overall global macro sort of improving. With both banks and IT combined, 50% of the Nifty looks sorted and which is why we believe that overall Nifty is headed towards fresh lifetime highs. In addition to that, we are positive on discretionary consumption themes – be it autos or consumer durables."