Indian Indices rose high but couldn’t break the threshold. Will it hopefully recover?

Indian Indices rose high but couldn't break the threshold. Will it hopefully recover?

It’s the final day of the market and just like every one of us, it looks like the Friday excitement has got the Indian Indices heading for home.

What we mean to say is that Indian indices tried to break the threshold but couldn’t and have seen a reversal. 

but the question on every trader’s mind is if there is a chance for recovery. 

Let’s get started!!

Nifty reached high, but couldn’t break the threshold. Where does the market go from here? 

Sell Below – 19370 | Stop Loss – 19470 | Target – 19270 |

As our analysts reviewed the data at the break of dawn, it was surprising to them what they saw. 

The previous session of the Nifty Index started the day with a gap up and reached the 19580 level. However, it faced resistance and couldn’t maintain its upward momentum, leading to strong selling pressure. 

This has resulted in the formation of a bearish candlestick pattern with a significant body. Traders can expect upside movements once again. 

Bank Nifty succeeded where Nifty couldn’t. How is this affecting the market? 

Sell Below – 44500 | Stop Loss – 44800 | Target – 44200 |

Bank Nifty has exhibited something special compared to Nifty’s last session. 

The Bank nifty has opened high and tested the 44950 but closed lower, forming an inverted hammer pattern. 

Upward movement can be expected by traders today!!

Trending Equity News:

It’s that time of the day again when we talk about the stocks that are changing the game for the market today. 

Let’s not delay and begin the analysis!!

One97 Communications:

According to Bloomberg, promoter Antfin is poised to sell 3.6% of the equity or 2.3 crore shares, in the fintech business Paytm through a block offer on August 25. The floor price for the deal is likely to be at a discount of Rs 880.10 per share, a 2.7% discount from Thursday’s closing price.


The subsidiary Klass Pack has completed the acquisition of an additional 4.56% stake in Goel Scientific Glass Works by purchasing 1,66,290 equity shares from Hemant Goel. With this purchase, the shareholding of Klass Pack in Goel Scientific has increased from 90.17% to 94.73%.

Reliance Industries:

In another big deal, The billionaire Mukesh Ambani-owned Reliance has entered into an understanding with The Oberoi Hotels and Resorts (Oberoi) to jointly manage three properties across India and the UK. These include the historic Stoke Park in the UK, the soon-to-be-built Anant Vilas Hotel in Mumbai’s Bandra Kurla Complex (BKC), and another project in Gujarat that is in the works. 

GI Engineering Solution:

GG Engineering continued offloading stake in the engineering design company for the fourth consecutive session. 11.8 lakh shares were sold for an average price of Rs. 12.14, and 25.84 lakh shares were sold for an average price of Rs. 12.15. With Thursday’s 4.37% stake sale, GG Engineering has sold 1.23 crore shares or 14.38% stake in GI Engineering in four sessions, against 24.47% shareholding held as of June 2023.

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

Until then, Happy Trading!!

Commodity Samachar

Learn and Trade with Ease