It’s been a whirlwind of a session for the Indian indices after hitting the 20,000 mark. It has created a nice and vibrant emotion within traders and investors alike.
In the previous session, the Indian Indices have shown remarkable ‘game’ thereby bouncing towards an upward momentum.
But will they be able to sustain the momentum?
Let’s find out, shall we?
Nifty Bounces back from profit-taking rounds. What’s to expect next?
Buy Above – 20150 | Stop Loss – 20000 | Target – 20300 |
In the previous session, nifty started without much change and then it gradually bounced back from profit-taking, ending on a positive note.
This was marked by the formation of an inside bar candlestick pattern.
Traders can expect sideways to upside moves today!!
Bank Nifty rebounds swiftly after profit taking. Where to now?
Buy Above – 45900 | Stop Loss – 45600 | Target – 46200|
During the last session, Bank nifty began with a drop!!
However, it then slowly rebounded from profit-taking and ended in positive territory.
This was indicated by the formation of a bullish engulfing candlestick pattern.
Traders can expect sideways to upward movements!!
Trending Equity Analysis:Â
As the market moves, the companies also make their moves. Let’s find out what news they have to offer.
IRCTC:
In order to facilitate MSRTC’s online bus booking services via IRCTC’s bus booking portal/website, the business and Maharashtra State Road Transport Corporation (MSRTC) have signed a Memorandum of Understanding (MOU). For the purpose of implementing the aforementioned project in cooperation by both parties, the specific roles and duties of IRCTC & MSRTC will be finalized.
Bombay Dyeing and Manufacturing Company:
The company has approved the proposal to sell the land parcel of about 22 acres in Worli, Mumbai to Gosu Realty Private Limited which is a subsidiary of Sumitomo Realty and Development Company Limited. it’s being sold for a total consideration of about INR 5200 crore.
Wipro:
In Dusseldorf, Germany, the business announced the opening of its Cyber Defence Centre (CDC). The CDCs of Wipro are spread out across the world to provide localized support and meet the cybersecurity and compliance needs of its clients.
Filatex Fashions:
The company had approved the allotment of 157 crore shares at INR 14.08 per share raising INR 2,211 crore from almost 187 investors including promoters, institutions and individual investors.