Indian indices rally towards another upward movement-filled session. How high will it go?

Indian indices rally towards another upward movement-filled session. How high will it go?

It’s an exciting day for trades as the Indian indices are continuing their rally toward the top. 

Just like a runner slowly increases their pace, Indian Indices are slowly climbing to the top. 

After a highly volatile session on the previous day, the rally continues to the top. 

So what’s next for the market? 

Let’s get started!!

Nifty soars to the top!! What’s next?

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

Our analysts have been on the scene since the break of dawn and they couldn’t be more excited. Nifty’s last session opened the gap up and the price closed positively. 

It has formed a small-body bullish candlestick pattern and traders can expect upside moves in the upcoming sessions. 

Bank nifty experiences high volatility and is poised to shoot up!! Now isn’t that exciting?

Buy Above – 44200 | Stop Loss – 43800 | Target – 44600 |

Bank Nifty has been on a roll just like Nifty. It opened the flat and witnessed a highly volatile session the previous day. 

It has formed a doji candlestick pattern and traders can see more upward movements to come.

Trending Equity News:

It’s that time of the day when we present the top contenders bringing their stories to the market space. Here are a few:

GG Engineering Solutions:

The largest shareholder in the engineering design company and largest public shareholder GG Engineering sold 14.55 lakh equity shares, or 1.69% of the company, through open market transactions at an average price of Rs 11 per share. As of June 2023, GG Engineering owned 24.47% of the corporation or 2.1 crore shares.

Shriram properties:

Foreign company Omega TC Sabre Holdings Pte Limited has sold 18 lakh equity shares or a 1.06% stake in the real estate developer, via open market transactions, at an average price of Rs 75.43 per share. As of June 2023, Omega TC Sabre owned 9.39% of the firm, or 1.59 crore shares.

Union Bank of India:

The board of directors has given the public sector lender permission to raise up to Rs 5,000 crore through a qualified institutions placement (QIP) of equity shares. The QIP controversy started on August 21. For the issuance, the floor price per equity share has been set at Rs 91.10.

Welspun Enterprises:

The infrastructure development arm of Welspun World has completed the acquisition of a 50.10% stake in Michigan Engineers (MEPL), a trenchless technology-based EPC company in the urban water infrastructure segment, from the existing shareholders for Rs 137.07 crore. With the deal finalized, MEPL is now a Welspun Enterprises subsidiary, allowing the business to grow into India’s potential market for water and tunneling solutions.

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

Until then, Happy Trading!!

Commodity Samachar

Learn and Trade with Ease