It’s Wednesday and we couldn’t be more excited to bring you the equity outlook of the day.
The Indian indices have been displaying a unique format over the past few days but as per our recent analysis, the previous session has geared up the market to set a course towards a downtrend.
What’s the next move that trades should make?
Let’s answer those questions now!!
Nifty sets a course for downtrends. What should traders expect?
Sell Below – 19800 | Stop Loss – 19900 | Target – 19700 |
Our analysts have been on the charts since morning, and we’ve witnessed several anomalies that have been taking place in the market today.
Nifty’s last session opened the gap up and rejected it from the upside. It has formed a belt and held a candlestick pattern.
Traders may expect sideways to downtrends movement to ensue.
Bank nifty follows suit to Nifty to witness downtrends as well. What’s next for the market?
Sell below – 45650 | Stop Loss – 46000 | Target – 45300 |
It was a whirlwind of a session and Bank Nifty in its last session has opened the gap up and rejected it from the upside. It has formed a hammer candlestick pattern as well.
Traders could expect sideways to downtrend movements today.
Trending Equity News:
The market has always had companies making waves each day, so why don’t we dive in and find out who’s making the most noise today?
Without further adieu, let’s begin!!
Maruti Suzuki India:
The largest automaker in the nation forecasted a July 2023 output of more than 1.86 lakh automobiles, an increase of almost 1% above the 1.85 lakh vehicles produced during the same period in 2202. Suzuki Motor Gujarat’s production was included in these statistics. Maruti is going to acquire a 100% stake in Suzuki Motor Gujarat from Suzuki Motor Corporation.
TVS Motor Company:
The two-and-three-wheeler manufacturer reported a sales volume of 3.26 lakh units for July 2023, which was 4% more than experts’ expectations and was up from the same month last year. Sales of two-wheelers increased 4% year over year to 3.12 lakh units, while those of electric vehicles more than quadrupled to 13,306 units from 6,304 units in the same time frame.
DLF:
Promoter Kushal Pal Singh has sold his entire 1.45 crore shares, which is equivalent to 0.59% of paid-up equity, via open market transactions, at an average price of Rs 504.21 per share. The stake sale was worth Rs 730.87 crore.
That’s all for today folks. We’ll be back with more updates soon!!
Until next time, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease