Stock market today: The NSE shares continued their downtrend for the second straight session on Monday. NSE share price today opened lower at ₹1,786 per share on the BSE and touched an intraday low of ₹1761 within a few minutes of the Opening Bell. On the third day of listing, the NSE share price decisively slipped below the upper price band of the NSE IPO.
Stock market experts believe the NSE share price is falling due to weak market sentiment. They said that NSE has strong fundamentals and one should have this stock in one’s portfolio. They advised NSE shareholders to hold the stock, maintaining a stop-loss at ₹1740. They said that the NSE share price close will be important today. If it closes below ₹1785, then it would be a new hurdle for the newly listed stock. Experts said that the previous close of ₹1792-95 would remain the immediate hurdle on Monday.
Why is NSE share falling post-listing?
Highlighting the reason for the fall in the NSE shares post-listing, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, “The NSE share price is under sell-off heat due to the weak sentiments on Dalal Street. The stock opened on a positive note despite the market falling. This signifies the bulls’ confidence in the NSE shares.”
Kejriwal said that NSE shares are portfolio stocks and that one must have them in one’s portfolio.
“The NSE reflects the Indian economy and the Indian capital market. So, it is a portfolio stock, and one should buy and hold the stock to meet the long-term goals,” said Kejriwal.
NSE share price | What should investors do?
On what investors should do now, Anuj Gupta, a SEBI-registered market expert, said, “NSE shareholders are advised to hold the scrip, maintaining a stop loss at ₹1740. The stock has decisively broken below its IPO price of ₹1785. Now, this is expected to work as an immediate hurdle, followed by its previous close of ₹1792.”
The SEBI-registered expert advised NSE shareholders to hold the scrip and wait for either side of the range, ₹1740 to ₹1785, to be broken. He said that today’s NSE closing price would be important. If the stock fails to move above ₹1785, a recovery can’t be expected without a bull trigger for the Indian stock market.
On whether a recovery in NSE share price is possible, Arun Kejriwal said, “The average weighted NSE share price today is around ₹1770, whereas the NSE share is currently trading at ₹1772 per share on the NSE. If the price sustains above ₹1770 for a few hours, then we can expect the stock to come above ₹1785. However, the previous close would continue to work as immediate resistance for the NSE shares on Monday.”
NSE share price | Stop-loss, resistance, and target price
Whether a fresh investor can buy NSE shares in the current fall, Anuj Gupta said, “Fresh investors are advised to buy NSE shares in a calibrated manner, maintaining a stop-loss below ₹1700 for the immediate target of ₹1875 to ₹1880. On breaking above this mid-term resistance, we can expect the NSE share price to come around ₹1950 to ₹1960 per share range in the next three months, once it decisively breaks above its current all-time high.”
PL Capital has also given a target of ₹1950 to NSE shares, while Macquarie, which initiated coverage on the recently listed exchange with a target price of ₹1,965, cited its dominant market position, strong liquidity, technology infrastructure and scope to expand beyond transaction-led revenues.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
