Are Indian Indices en-route to a correction? Here’s what analysts say!!

Are Indian Indices en-route to a correction? Here's what analysts say!!

It’s Wednesday and right after the celebrations of Ganesh Chaturthi were in full swing, something has happened to the Indian Indices. 

Both Nifty and Bank Nifty seem to be taking the route for corrections in the long run. 

So, where is the market headed next? 

Well, join us and let’s analyze it!!

Nifty witnesses a price drop and is en route to correction. What’s next for the market? 

Nifty Fut- Sell Below – 20150 | Stop Loss – 20300 | Target – 20000 |

Our analysts have been on the scene and observed that Nifty has started the last session with a price drop. 

There was lower trading activity and the price range was quite narrow. This has created a specific candlestick pattern known as the “small wick pin bar”. 

Traders can expect some corrections today.

Bank Nifty ‘follows suit’ to Nifty but with a twist!!

Bank Nifty Fut – Sell Below – 45950 | Stop Loss – 46250 | Target – 45650 |

During the last session, bank Nifty started with a drop in the price. The surprising thing about Bank Nifty today has to be that the market was highly active, but the range of prices traded was quite narrow. 

This has resulted in the formation of a pin bar candlestick pattern. 

Some corrections can be expected by traders today.

Trending Equity News:

Some companies stand out from the rest when it comes to making the headlines. Here are ew companies making the headlines in today’s market.

Amber Enterprises:

Amber Enterprises subsidiary and NExxbase Marketing Pvt. Ltd is known for its brand ‘Noise’ joined hands in beginning a Joint Venture Company, to carry on the business of manufacturing, assembling and designing wearables and other smart electronics products. 

Thyrocare Technologies Pvt. ltd:

The company has entered into a subscription agreement in Tanzania with Kastipharm Ltd and other individuals for setting up a joint venture company for providing diagnostic and healthcare services to customers. 

Reliance Industries: 

Reliance Industries’ most awaited JioFiber goes live in 8 cities which include Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune. JioAir Fiber is poised to overcome the challenges of last-mile connectivity and connect home and small businesses to transform India into a premier digital society. 

That’s all for today folks!!

We’ll be back with more news soon. 

Until then, Happy Trading!!

Commodity Samachar

Learn and Trade with Ease