Whether it is IT index, metal index or Nifty smallcap index, all of them have quite a bit of downside ahead of them. So, maintain cash if you are interested in them from a medium to long term view. To get attractive entry points for generating excess returns, one has to have patience and money in hand. So hold cash and invest at the right time.

RIL has corrected almost 15% from the top of 2,856 and entered an oversold zone in the lower degree charts.

The order came on a complaint filed by the watchdog against Mangalaben A Doshi(the accused) for non-payment of penalty imposed by its adjudication officer in December 2012 in the matter of Eltrol Ltd.

​​ Under the proposal, an issuer should make "pre-filing" of offer document with Sebi and stock exchanges without making it available for public for an initial scrutiny period only, according to a consultation paper.

Fresh shorts are again seen in the system as the index current month futures added over 6.40 lakh shares or 6.23% in OI. This addition of the OI has come with a decline in the index, and this confirms the addition of fresh shorts in the system.

The initial share sale comprises fresh issuance of equity shares worth Rs 1,004 crore and an offer for sale component of 11.85 crore equity shares by promoters and other selling shareholder.

The Dow Jones Industrial Average fell 37.50 points, or 0.12%, at the open to 32,123.24.

Net profit for the quarter was at Rs 984 crore against Rs 1709 crore in the year-ago period.

Such a candle has a bullish connotation if it is followed by a positive close in the next session, said analysts, who see immediate resistance in the 16,20-350 range and index support at 16,000.

The operating profit during the January-March quarter grew sharply to Rs 158 crore from Rs 57.59 crore in the year-ago period.