It’s Tuesday and the market has calmed down a bit after the overwhelming previous sessions on its hands.
The Indian indices are likely to witness a ranged market today but manoeuvring through them is another story.
Without further delays, let’s dive into today’s stock market updates.
Nifty witnesses ranged market. What’s next for traders?
Sell around – 19900 | Stop Loss – 20000 | Target – 19700 |
The last session of Nifty opened the flat and took support from 20D SMA. It has closed positively and formed a hammer candlestick pattern.
Our analysts suggest that traders could experience a ranged market.
Bank Nifty shares save views as Nifty as it witnesses a ranged market. Should traders be worried?
Sell around – 45970 | Stop Loss – 46170 | Target – 45770
Manoeuvring through a ranged market is quite worrisome and as per our analysts, Bank Nifty’s last session opened the gap up and took support from 20D SMA. It has closed positively and formed a hammer candlestick pattern.
A range market is expected as per our analysis.
Trending Equity Analysis:
A lot of companies have been making the rounds and creating waves in the market. Let’s dive in and see who they are and what they have to offer.
Maruti Suzuki India:
The largest producer of passenger cars in the nation saw its standalone profit increase by 145.4% year over year to Rs 2,485.1 crore for the quarter ended June FY24, mostly due to increased sales volume, greater realisation, cost-cutting initiatives, and higher non-operating income.
Power Grid Corporation of India:
The state-owned electric services company has registered a nearly 6% year-on-year decline in standalone profit at Rs 3,542.65 crore for the quarter ended June FY24 despite a healthy operating margin, dented by lower topline. Revenue from operations during the quarter fell 0.1% to Rs 10,436.1 crore compared to the year-ago period
BOSCH:
The technology and services provider has recorded a 22.4% year-on-year growth in consolidated profit at Rs 408.9 crore for the quarter ended June FY24 despite a weak operating margin, backed by higher other income and topline.
IRB Infrastructure developers:
Mumbai-based road developer has reported a massive 66% year-on-year decline in consolidated profit at Rs 133.8 crore for the June FY24 quarter, dented by lower topline and operating numbers. During the time period, revenue decreased 15.1% YoY to Rs 1,634.2 crore.
That’s all for today folks. We’ll be back with more news soon.
Until then, Happy Trading!!