It’s the start of the week and it seems like the ‘winds of change’ are incoming.
The Indian Indices continued and enjoyed their bullish streak for quite a while but it seems like something is different today!!
Let’s dive into the analysis and see where the Indian Indices are headed next!!
Nifty witnesses high volatility!! Where’s the market headed?
Nifty FUT – Sell Below – 20200 | Stop Loss – 20300 | Target – 20100 |
In the previous session, nifty had kicked off with a gap up, yet it was met with resistance at the new all-time high of 20222.45.
The session turned out to be highly volatile and this has evidently resulted in the formation of a spinning top candlestick pattern.
Some correction is expected in the Indian Indices!!
Bank Nifty follows suit to nifty and witnesses high volatility. What’s next for the market?
Bank Nifty FUT – Sell Below – 46150 | Stop Loss – 46450 | Target – 45850 |
In the recent session, Bank Nifty had begun on a high note with a gap up, but it had encountered resistance at the previous high.
This led to a session marked by high volatility.
The resulting candlestick pattern is known as a spinning top and our analysts expect some correction in the trajectory.
Trending Equity News:
It’s the first day of the new week and here are the companies making noise throughout the day!!
Eicher Motors Ltd.:
Eicher Motors Ltd commercial vehicle arm VE Commercial Vehicles has agreed to supply 1,000 electric buses for Green Cell Mobility’s intercity business.
Dixon Technologies Ltd.:
Xiaomi Inc. supplier Dixon Technologies India Ltd is likely to set up a massive new factory on the outskirts of New Delhi. Dixon will be investing more than INR 4 billion over 3 years.
Indian Railway Catering and Tourism Corporation Ltd.:
IRCTC has made a live pilot project into reality with Amazon for the marketplace, Recharges and Bill Payment for a period of 6 months. This would involve the integration of Amazon e-commerce products on IRCTC’s websites and mobile apps.
Tata Steel Ltd:
Tata Steel and the UK government have joined hands and have agreed to jointly invest 1.25 billion pound sterling to install new electric arc furnaces for steel making at the former’s Port Talbot site in Wales.
That’s all for today folks!!
We’ll be back with more soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease