Indian Indices are performing splendidly!! Is it time for traders to cash in on the opportunity?

It’s an exciting day and the start of a new week. The market looks good with upsides, but what’s the real story beneath?

So without further delays, let’s begin!!

Nifty hits a new lifetime high!! Traders, it’s time to take action.

In the last session of Nifty, it opened the gap up and achieved a new lifetime high. It also formed a strong bullish candlestick pattern, so pretty much good news all around. Our analysts expect that traders will see upside movement in the coming weeks.

Our recommendation:

Buy around – 19150
Stop loss – 18950
Target – 19350

Is Bank Nifty performing as well as Nifty? What should traders focus on?

The last session of Bank Nifty filled the gap up and tested resistance at levels of 44500. It has formed a bullish hammer candlestick pattern, so traders can expect upside movement.

Our recommendation:

Buy around – 44600
Stop loss – 44200
Target – 45000

Trending Equity News:

Here’s the low down of all the hottest equity news that’s out there in the market.

Maruti Suzuki India, the largest automaker in the nation, sold 1.59 lakh units in June 2023, a 2.3% increase over the 1.55 lakh units sold in the corresponding month of the previous year. Domestic sales increased by 5.77% to 1.39 lakh units, but exports dropped 17% to 19,770 units.

The largest cement producer in the nation, Ultratech Cement, reported that overall sales in India for the first quarter of FY24 increased by 20% year over year to 29.01 million tonnes, and total consolidated sales increased by 20% year over year to 29.96 million tonnes. In Q1FY24, the capacity usage was around 90%.

Promoter Rikant Pittie has offloaded 10 crore equity shares or a 5.75% stake in the travel agency company Easy trip planners at an average price of Rs 40.05 per share, which amounted to Rs 400.5 crore. However, at an average cost of Rs 40 per share, Societe Generale purchased 1.5 crores of the company’s shares.

That’s all for today’s focus. The week’s just kicking off, so good luck out there on the market.

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