It was an exciting session for traders yesterday as strong selling pressure was witnessed by the Indian Indices.
Ensuing this a bearish candlestick pattern was formed and the question is, will the bearish forces take over?
To answer that question let’s dive into the analysis. Let’s start!!
Nifty witnessed strong selling pressure. What’s next for the market?
Buy Around – 19350 | Stop Loss – 19250 | Target – 19450 |
Nifty started with a gap up but it witnessed strong selling pressure.
It has formed a strong bearish candlestick pattern, however, traders can expect upside movements.
Bank Nifty followed suit to Nifty and experienced strong selling pressure. Will there be upside movements?
Buy ABove – 44400 | Stop Loss – 44000 | Target – 44800 |
Bank Nifty hitched Nifty’s bandwagon and started with a gap-up. The day saw strong selling pressure and formed a strong bearish candlestick pattern.
Traders can expect upward movements!!
Trending Equity News:
Here’s that time of day again when we take you through the market and introduce you to the company making the headlines. Let’s begin!!
Natco Pharma:
The pharmaceutical business invested $2 million strategically in Delaware-based ISCA Inc., which had a $9.3 million revenue in its most recent fiscal year that ended in December 2022. The strategic investment for a 5.79 per cent stake in ISCA is for biocontrol of pests.
Zee Entertainment Enterprises:
Quant Mutual Fund has offloaded 48.15 lakh equity shares or half a per cent stake in the media & entertainment company, via open market transactions, at an average price of Rs 266.61 per share. The amount of the stake sale was Rs 128.38 crore.
Zomato:
SVF Growth (Singapore) Pte Ltd, an affiliate of Japanese company SoftBank, has sold 10 crore equity shares, equivalent to 1.16 per cent of paid-up equity, in the food delivery giant, via open market transaction, at an average price of Rs 94.7 per share. The stake sale amounted to Rs 947 crore, while SVF’s holding in the company was 3.35 per cent or 28.71 crore shares as of June 2023.
That’s all folks!!
We’ll be back with more news soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease