It lost close to about 16 17% last week.

But even today, that pullback is not held and asked me, Speak, it seems Shop for a cut of about 2% and 1/2 after low point over their i D stocks to, despite the ruby weakness, I.

D stocks are under pressure today, in fact, across the board.

But it's your technology has gotten hit the hardest on that sound closed about three or percent, it had the index itself.

The idea index has outperformed the Nifty by more than 30% so far this year, and I guess some of that is getting unwound.

But let's stick with the currency.

The ruby weakness continues.

The currency is now inching closer to that 74 mark against the dollar.

73.92 as we speak, we spoke to M S Gopi Krishnan of Standard Shot Bang on Goshen.

Doubts of Deutsche Bank on the ruby trajectory Going ahead, let's hear out of use.

We need to have a lot more off negatively is going in for a rupee to train hired and probably beach 75.

I think For the time being, I would put my better 73 74 half kind of a range we have only appreciated by 5% or 90 year basis, which clearly shows that, yes, it is a vision a lot this year, but it is still not the worst performing countries over a period of time.

I mean, in bond yields have been under pressure because of the supply demand, which we have seen in the last nine months, and also because the oil going up, I think born he'll fall and I expected to be in the range of 7 92 18 An RV has made it very clear that, you know, they're not gonna use interest rate defense just for the effects management and a little bit off, you know, clarity required because the initial days of inflation targeting how R B I would want to guide on that guidance has come as helpful kind of a way off.

Thinking about the future, given what's happening globally and in oil prices are a little bit down.

But over a period of time, if you think of the next 3 to 6 months, we think there could be still more deposition pressure on the currency.

We think, you know, bond deals will stay above it percent.

Given, you know where things are at this moment.

Well, that is a view on the currency in the bond markets.

Back to equities now.

And ah, yeah, then if he is really trying to hold on to the 3 10,050 mark for at least the time being along with the S Bank.

But judge finances the other stock that has seen steady buying, and that's one trend that's continuing.

Well, let's just keep an eye out on some of the commodity names because Hindalco ONGC, of course, in the metal names like Dr Steele Ah, weakness in the commodity complex is very, very.

Apparently, that's a trend that is still continuing.

Okay, on that note, time to move to another stock that is on the move, and it's actually on the move.

On the downside, I'm talking about Walter stocks down for four and 1/2 percent.

I see.

I see a securities has now come out with a note.

They were very bearish.

We own the stock and deciding a whole cross section of factors, including a week or a P and tepid demand.

Let's get more details going with Anisha initial.

What are you picking up, Walter?

But this is not new news in terms of wall talks.

But, yes, the brokerage has taken the action.

Today they have got the target value, which multiple for the stock as well as cardio earnings estimate.

As a result, the target price now is 430.

Was this for 95 earlier?

Not to talk about that the dealer takes suggest that the demand a pick up for a C business has been slow on.

The outlook also looks muted now why this will impact will tell us more than others.

First of all, that custom duty, high put impact will dust more because up they have high importance.

And that's why the market is expected to come under pressure.

And secondly, remember for Walter had entered into an agreement with arsenic for the bake o our product launches.

Now, Isis security states that they initially look check suggest that the response for these new appliances has bean tepid.

It is no out of the world kind of plans that we have seen their very plain, simple colored appliances.

So they're expecting that maybe they will see initial losses because remember, the business model for Becca was on the lines that they will import most off the product, at least with the initial two years.

And then they will be a cape except I've done for this fund.

So the initial margin pressure that will be dead, that makes them suggest that they might be lost.

Also, that the company might have to book on account of this particular product segment on.

That's the reason they've got down the multiple daily earnings estimate announced.

Result a target price back to okay.

Initial.

Thank you very much for that to the report says that the water's Becca refrigerators are of plain colors.

Where is the market prefers florid colors on.

Also, the J V is trying to price the product similar to LG and Samsel, which are the current market leaders in the segment.

Just adding some more to what initial results is telling us.

But back to a cash is gonna tell us about Dr Reddy's and why that stock needs to be on our read after day.

I'm thanks for that.

Well, it's just a small update with regards to Dr Reddy's.

You know there is a pharmaceutical company called Therapeutics MD.

Which is going to be launching on women's oral contraceptive device on a very high in the first half of seed by 19.

So now this is actually a negatively through for Dr Reddy's because they are in the pipeline to launch a similar device called Maneuvering.

Now a new Vera's devices are expected to be actually only used.

One CEO Voice is something like a NuvaRing, which is expected to be used every month.

So you know the patient will probably comply to using a product such as Anna Vera's versus new wearing according to a couple of endless that have been watching this development on also the device and Vera's device is expected to be much lower in price, as compared to Dr Reddy's numbering.

Now remember that Dr Reddy's know Wearing was expected to be one of the big launches by Dr Reddy's but is now slated for the first half of seed by 19.

It has seen some delays in the past, but now, because of more competition, coming in with different variations in terms of compliance or increasing compliance would be something which would probably impact market share.

Okay, all right.

Thanks very much for getting us those details on Dr Reddy's.

Let's move to some market opinion on that note, we caught up with the Ashwini Agarwal of Ashmore Investment Management earlier in the day to get his sense on the current market environment, the macros and the overall mood.

Let's take a look combination off the fact that that rates have risen a combination of the fact that the government spending on government employees while the HR increase that happened last year has faded off on the fact that the MBf seas will have will be more cautious and extending fresh loans, that you will have a concomitant effect off reducing demand and that there is something that all of us, including all of us, are kind of watching very closely.

This will hurt the man to a small degree.

So we should all calibrate down our forecast of the second year, you know, just a notch to take this into account.

But will it be a disaster scenario?

I don't think so.

At this point in time, if you look at the Indian market place and look at the financial assets that are available to you.

Equities continues to be three best asset asset to own.

The best thing to do in these markets in these markets if you're not a leverage player, is just to stay put.

It doesn't make sense to take money out.

It doesn't make sense to make drastic investment decisions with a bio sale.

Just ride it out because you know Bela Stones that happened and they will pass if you are invested in good companies or if you're invested in well managed mutual funds.

Eventually things will pass on overtime.

Risk adjusted returns have from equities have tended to be very, very rewarding.

So you know, that's what we should do.

Okay, let's get back to the markets and get in a few trading strategies as well as Geneva drylands and the bag.

We join us on the show now, Ashwini afternoon, so far, a positive session for our markets.

But in the last 30 minutes we've given up some of those gains.

How would he approach trade now in the rupee is weakening, So now it's 73.94 against the dollar, putting all this in context, watching the Index Street Be See, there comes a time when you know mostly everything is priced in.

So, you know, doing this Oneto one correlations often don't make sense.

So my sense is that 10 1 50 10 200 is a fairly decent support and we don't the markets they need to recover a bit even if they have to fall again.

And we haven't really priced in the $3 fall on crude so still bullish and hoping that we get upside.

So right now, you should be long on bank Nifty.

Now, obviously there several moving parts And you know, global markets can turn on a dime, et cetera, et cetera, so that people should take cognizance off and plan for that.

But overall, with 10,200 type of stop on the nifty, I think a few upside days should be possible.

So having said that, for the moment, we wantto be long on the banks.

SB isa by with the stop of 2 59 target off to 72 RV Elysa by with the stop of 4 90 target over by 15 And I see I see a bank is abi with drop off 305 profit of 21.

OK, actually, let me throw in a googly.

Oh, yes, Bank is the manner in which the stock is more than the last one out or so, Does it make for any sort of a trade for you at the moment?

So you and yes, bang.

You know, not because somebody is meeting somebody, but the way it has collapsed, I think 400 thereabout.

I mean, everything will bounce back.

And the kind of falls you had 15 20% bounce back on several stocks is possible, including financials.

So, you know, a lot of other banks are also up.

Having said that, you know, this is a kind off, you know, collapse and total exhaustion off selling.

So at some point, you will see these stocks go up.

Unh PCL, et cetera.

Because you know, stocks can't go down to zero.

So my senses, you'll have ah, 3 to 5 type of rally where people sort of catch their breath.

For the moment, being long is the right idea.

The risk reward is positive.

Now, when and how in you know that I'll even get constructed that time will tell.

But for the moment, I don't think shorts have, you know, great odds on the downside.

Okay.

Why?

There was a bit of a pullback in the Indian market issue started weakening some more.

So the Chinese markets are now down post about 3.6%.

They were down about 3% for a greater part of the morning.

But now they've slipped some more.

Hang sank to which had attempted a beautiful back, is now down about 340 points.

Eso gotten weaker for the Asian markets.

And now it's about close to 4% actually, on the Chinese market.

So just keep that in context.

Sunny Barclay is also here with us on the show.

Philippe, your thoughts and trade on your individual trading picks.

Afternoon, Lima.

I think the bottom has been made in the short number.

There can be some choppiness.

I would play a boat with a cell.

Inner D h f l.

Stop.

Clothes off.

2 50 A target off to 34 Onda Bi in Obata, Stop closer to 64.

Target 900.

Okay.

All right.

Doesn't leave many.

Thanks for that.

Thanks to washing as well.

We are just looking at, perhaps some rates coming in from the European market.

So let's just take a look.

Our market is cooled off quite a bit, by the way.

I mean we once again looking little sluggish as Europe opens out, the queues are not very optimistic, at least for the time being.

Because we've seen some weakness, are creeping into those markets as well, and just back to the indices here at home.

Once again, if you talk about the weak hands, then it is metal.

Stocks were making that point consistently, plus some some I D Sell off is also quite valuable bull.

Some profit booking on stocks like pro TCS emphasis That has also been the story of the first half left E.

I.

T.

At the lawyer's office today.

On that note.

Let's take a quick break.

When we come back, we get you an exclusive for conversation with Shankar Sharma.

First global trucker says that India has begun to look very fragile.