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Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session

The Indian equity market showed mixed performance in November, grappling with concerns over weak Q2 earnings and sustained foreign outflows.

Driven by central bank purchases and geopolitical tensions, gold prices soared to 39 new all-time highs in 2024, marking the highest number in 45 years. The surge, influenced by strong Asian demand and US election anxieties, saw gold reach $2,734 per ounce, prompting predictions of further increases.

Shares of Britannia Industries will be in focus on Tuesday after the FMCG giant reported a 10% year-on-year (YoY) decline in consolidated net profit, which stood at Rs 531 crore for the quarter ending September 2024, down from Rs 588 crore in the same period last year.

"Irrespective of market levels, at every point in time there will be companies which will be relatively undervalued and our portfolio will reflect some of these new ideas, if they meet our framework of great business," she says.

Despite the correction, valuations reman elevated, especially for small caps. Markets were anticipating a weak 2Q earnings season, but the actual numbers were worse than these weak expectations.

Indian market is expected to open higher on Tuesday following positive global market trends. Market volatility is anticipated to decline. Analysts predict a range-bound trading session with immediate support and resistance levels identified. Specific stock recommendations for short-term traders are provided, including buy recommendations for Infosys, Axis Bank, Wipro, REC, and Bank of Baroda, and a sell recommendation for DLF.

Indian benchmark indices closed relatively flat on Monday, impacted by several factors including persistent selling by foreign institutional investors (FII), underwhelming quarterly earnings reports, and weak performance in Asian markets. Analysts suggest investors avoid buying Hindalco, ONGC, and Asian Paints at current prices due to various technical indicators and market trends.

Nykaa is poised to announce a threefold surge in net profit for the July-September quarter, driven by robust growth in its beauty and personal care segment. Analysts predict a 26% revenue increase to Rs 1900 crore, fueled by strong omnichannel retail and owned brand performance.