It’s Tuesday and the Indian Indices seem to be moving towards a bullish rally.
While it witnessed high volatility the movements tend to be indicating a strong bullish sentiment.
What will be the trajectory that the Indian Indices will be moving in?
Well, the answers are incoming. Let’s get started!!
Nifty witnesses high volatility and expects upside moves. Will this sustain?
Buy Above – 19340 | Stop Loss – 19240 | Target – 19440 |
Nifty started with a gap-up and indicated high volatility.
The day’s candlestick pattern formed a doji, suggesting indecision in the market.
Traders can expect an upside movement moving forward.
Bank Nifty feels the momentum of a ” Strong bullish sentiment”. What’s next for the market?
Buy Above – 44500 | Stop Loss – 44200 | Target – 44800 |
Bank Nifty had opened the gap up, followed by a bullish rally. It had closed positively.
The candlestick pattern formed in the shape of a “belt hold”, thereby indicating a strong bullish sentiment. Traders can expect an upward move.!!
Trending Equity News:
A few companies are cut above the rest that’ll create waves in the market. So let’s discuss these companies.
Zomato:
By selling all of its shares in the company for Rs 1,123.85 crore, Internet Fund III Pte Ltd, a venture capital fund managed by the US-based investment management firm Tiger Global Management, has left the market leader in food delivery. Through open market transactions, the fund sold 12.34 crore shares, or 1.44% of Zomato, at an average price of Rs 91.01 per share.
Star Health and Allied Insurance Company:
The health insurance firm that was backed by the late large bull Rakesh Jhunjhunwala has 3.35% of its shares owned by ICICI Prudential Life and Fidelity together. In open market transactions, at an average price of Rs 610.20 per share, ICICI Prudential Life Insurance Company acquired 39 lakh shares, Fidelity Investment Trust Fidelity Series Emerging Markets Fund acquired 1.23 crore shares, and FGTFEBP: FIAM Emerging Markets Opportunities Commingled Pool acquired 32.45 lakh shares in Star Health.
Visa Steel:
In open market transactions, promoter Visa Industries acquired 22 lakh shares, or 1.89% of the high carbon ferro chrome producer, for an average price of Rs 14.3 per share. However, M Prasad & Co. sold 16.05 lakh shares or 1.38% of the company at the same average price.
That’s all folks!!
We’ll be back with more news soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease