Indian Indices fall and bounce back into an upward trajectory. What’s next for the market?

Indian Indices fall and bounce back into an upward trajectory. What's next for the market?

The Indian Indices have been on a rollercoaster ride the past few sessions and yesterday was no surprise to that fact either. 

After a big dip in its trajectory, it has recovered but what’s the next move for the market? 

Well, without further adieu, let’s begin!!

Nifty falls sharply but recovers shortly. What’s the direction of the market today?

Buy Around – 19350 | Stop Loss – 19250 | Target – 19450 |

The previous session served for an exciting and adventurous trade as Nifty was fluctuating like anything. 

Our analysts had noticed that the Nifty started by going up but then it fell sharply. Later in the afternoon, it recovered from the 19309 level. 

It has formed a hammer kind of candlestick pattern and traders can expect upside movements. 

Bank Nifty witnessed high selling pressure. What’s next for the market?

Buy Above – 44650 | Stop Loss – 44350 | Target – 44950 |

Bank Nifty had a different trajectory than Nifty. It started with a gap up, but the day saw strong selling pressure. 

The candlestick pattern formed is called a “belt and hold”, signalling towards a strong bearish trend. 

Traders can expect upward movements. 

Trending Equity News:

A few companies stick out from the rest of the pack and they usually guide the market. Well, here’s the list of companies that are making the news at the crack of dawn.

Ami Organics:

Through open market transactions, Morgan Stanley Asia Singapore Pte non-ODI purchased 6,21,898 equity shares in the pharmaceutical company for a total of Rs 77.7 crore at an average price of Rs 1,250 per share.  

APL Apollo Tubes:

Promoter Rahul Gupta has exited the structural steel tubes company by selling his personal shareholding of 15.01 lakh shares or 0.54% stake via open market transactions at an average price of Rs 1,621.46 per share. The stake sale was worth Rs 243.38 crore.

SBFC Finance:

The non-banking finance company has recorded a standalone net profit of Rs 47 crore for the quarter ended June FY24, rising 46.5% over Rs 32 crore profit in the year-ago period. Net interest income grew by 40.6% on-year to Rs 141 crore during the same quarter.

Well, that’s all folks!!

We’ll be back with more news soon. 

Until then, Happy Trading!!

Commodity Samachar

Learn and Trade with Ease