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A total of 7,105 shares changed hands on the counter till 11:26AM (IST)

“The short-term trend for the Nifty remains positive as there’s no confirmation of reversal yet. However, the momentum readings on the daily chart are in an overbought zone and hence one should be vigilant on important market levels in the coming week,” Ruchit Jain, Lead Research, 5paisa.com, said.

These risks are NOT related to the long term fundamentals of a business. This is so because price movements in the short term are mostly a function of the market’s perceptions of the business in question. Such perceptions also reflect the market’s tendency to extrapolate short term performance (good or bad) many years into the future," Team Mukherjea said in a note to investors.

The Relative Strength Index of the stock stood at 53.25 on Monday.

“The 10-year G-Sec yield was at 7.45% as on June 30, the day we had finalised these results. That is one of the reasons for the Rs 6,549 -crore hit which has been booked. But if we look at the yield movement which we have seen till the day before yesterday, it has come down to 7.10%. Also, up to 7.45%, any kind of yield movement was already taken care of.”

A total of 11,362 shares changed hands on the counter till time (IST).

Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 33938.77 Crore) operating in Gas & Petroleum sector.

Gold futures on MCX were down, marginally lower by 0.10 per cent or Rs 52 at Rs 51,822 per 10 grams. However, silver futures were flat, marginally up merely by 0.01 per cent or Rs 4 at Rs 57,368 per kg.Focus this week will be on US inflation data due on Wednesday that could offer more clues on the Fed rate hike path. Also, tensions between China and Taiwan will also be on the radar of investors.

Syrma SGS is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries.

"It is better to remain cautious and maintain existing longs with a stop below 17220. A breakdown during the week below the 17220 support level could see a change in trend. While a breakout above 17480 could push the index higher towards its extreme overbought zone around 17780 which should qualify as a profit-booking zone during the week."