It’s the final day of the trading session this week and the Indian Indices have once again left us holding for breath.
The excitement is in the air as the Indian indices ‘rev up engines, shifting gears into new horizons.
But the question on everyone’s minds is what’s going to be the next trajectory for the market?
Nifty shifts gears from Selling pressure to a narrow range within 60 minutes. What does this mean for the market?
Nifty FUT – Buy Above – 19950 | Stop Loss – 19850 | Target – 20050|
During the last session, Nifty had started with a gap down and experienced high selling pressure in the first hour.
Ensuing this, it then traded in a narrow range. This has led to the formation of a bearish belt and hold candlestick pattern.
Traders can expect sideways to upside movements!!
Bank Nifty takes different routes as it experiences selling pressure throughout the day. Where’s it headed next?
Bank Nifty FUT – Sell Below – 45350 | Stop Loss – 45650 | Target – 45050 |
During the last session, Bank Nifty started with a gap down and experienced strong selling pressure throughout the day.
It closed near a support zone, forming a bearish belt and hold candlestick pattern.
Traders can expect sideways to upside movements in the upcoming sessions.
Trending Equity News:
It’s that time of the day when we guide you through the market introducing you to the companies making the biggest news updates today in the market.
Here we go!!
Glenmark Life Science Ltd:
Glenmark Pharma agrees to divest a 75% stake in its subsidiary Glenmark Life Science to Nirma Ltd at a price of INR 65/- per share implying an equity valuation of INR 7535.4 crore.
Sunteck Realty Ltd:
the International Finance Corporation and Sunteck are partnering to create a joint platform with a total investment of up to INR 750 crore to promote the development of nearly 12,000 high-quality housing units across 4-6 green housing projects within the Mumbai Metropolitan Region.
JSW Steel Ltd. :
JSW Steel’s subsidiary Caretta Minerals LLC has entered into an agreement for selling its property, plant and equipment and mineral rights to West Virginia properties for a consideration of USD 24 million.
Nifty Index Update:
Indian government bonds will become part of JP Morgan Chase and Co.’s emerging markets bond index. The inclusion will take place gradually over a 10-month period, from June 28, 2024, to March 31, 2025.
That’s all for today folks!!
We’ll be back with more content soon.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease