Indian Indices hit the ceiling and face rejection. Is there hope of a reversal?

Indian Indices hit the ceiling and face rejection. Is there hope of a reversal?

The last trading session was brutal for the Indian Indices as they’ve been shot down from the upside after facing rejection. 

However, all is not lost for our favorite market as there are possibilities for improvements. 

So what’s the deal with the market today?

Well, let’s get started on that!!

Nifty experiences rejection from the upside, but is there hope?

Buy Around – 19400 | Stop loss – 19300 | Target – 19500 |

Our analysts were in shock and awe as the Nifty Index opened with a gap up, experienced price rejection from the upside and closed negatively. 

It formed a spinning top candlestick pattern and traders can expect upside movement nevertheless. 

Bank Nifty witnesses a highly volatile session. What’s next for the market?

Buy Above – 44100 | Stop Loss – 43800 | Target – 44400/44700 |

Bank Nifty’s scenario has been going in a different trajectory. The last session of Bank Nifty started higher with a gap and the session was quite volatile. 

The candlestick pattern formed looks like a “belt and hold” pattern and traders can expect an upward move. 

Trending Equity News:

It’s that time of the day again when we list out the companies making the rounds in the market today. So without further adieu, let’s dive into the news:

Piramal Enterprises:

The company said the board members have approved the public issuance of non-convertible debentures (NCDs) for up to Rs 3,000 crore. There would be one or more tranches for the public offering of Rs 3,000 crore.


In the tender put out by the Railway Board, the publicly traded railway emerged as the lowest bidder. The deal is expected to cost Rs. 65.4 crore.

SJS Enterprises:

Promoter entity Evergraph Holdings Pte Ltd sold a 29.52% stake out of its personal holding of 34.15% in the aesthetics solutions provider, through open market transactions. Evergraph sold 45.82 lakh shares in SJS at an average price of 600 and 600.06 rupees per share, for a total transaction value of 549.87 crore rupees.

Shriram Properties:

Foreign company Omega TC Sabre Holdings Pte Limited sold a further 2.29 per cent stake or 39 lakh shares in the real estate developer, via open market transaction, at an average price of Rs 78.44 per share, amounting to Rs 30.59 crore.

That’s all for today folks. We’ll be back with more news soon. 

Until then, Happy Trading!!

Commodity Samachar

Learn and Trade with Ease