It’s Thursday and it looks like things are turning around for the Indian Indices.
Just as they say ” Once you reach rock bottom, there’s no way to go but up”
Our analysts have been on the scene and as per the latest reports, a positive view is being reported for Indian Indices.
So without any delays, let’s get started!!
Nifty witnessed surges in volatility and ensued an upward trajectory. What’s going on in the market?
Buy Around – 19700 | Stop Loss – 19500 | Target – 19900 |
Compared to the previous session, the last session of Nifty surprised traders all around. The last session of Nifty opened the flat and seemed to witness a highly volatile session.
It has been rejected from Fibonacci 0.5% levels and has formed a bullish pin bar candlestick pattern.
Traders can expect sideways to upwards movement in the next set of sessions.
Bank Nifty follows suit to Nifty and anticipated upward movements. What’s next for the Market?
Buy Above – 45100 | Stop Loss – 45800 | Target – 45400 |
Nifty and Bank nifty go hand in hand in the previous session as well. Bank Nifty’s last session opened flat and seemed to be witnessing a volatile session. It was rejected from 50 DSMA levels and has formed a bullish pin bar candlestick pattern.
Traders can expect sideways to upward movements ensuing.
Results:
A lot of companies have been making their mark known on the market scene, and here are a few announcing their quarterly earnings.
Hero MotoCorp, Life Insurance Corporation of India, Biocon, Alkem Laboratories, Manappuram Finance, Apollo Tyres, Bajaj Electricals, General Insurance Corporation of India, Indiabulls real estate, Lemon tree hotels, Pidilite industries, Steel Authority of India, Torrent Power, etc.
Trending Equity News:
Zee Entertainment Enterprises:
The media and entertainment company has reported a 97% year-on-year decline in profit from continuing operations at Rs 3.87 crore for the quarter ended June FY24, impacted by weak operating numbers and exceptional loss (Rs 70.6 crore against Rs 29.9 crore YoY).
Axis Bank:
The private sector lender has received approval from the board for a capital infusion of Rs 1,612 crore in Max Life through preferential allotment. With this capital infusion, Axis Bank’s direct stake in Max Life will increase to 16.22% and the collective stake of Axis Entities increase to 19.02%.
Tata Power Company:
The Tata Group company has registered a consolidated profit of Rs 972.5 crore for the quarter ended June FY24, rising 22.4% over a year-ago period, backed by healthy operating performance, and exceptional gain (Rs 234.7 crore).
BSE:
The country’s oldest stock exchange has recorded a consolidated profit of Rs 442.66 crore for the quarter ended June FY24, rising 10-fold over Rs 44 crore in the year-ago period, driven by a 5% stake sale in associate company CDSL, higher investment income and other income. Revenue for the quarter grew by 15.4% on-year to Rs 215.62 crore.
Indian Railway Catering and Tourism Corporation:
The state-owned railway company has recorded a profit of Rs 231 crore for the quarter that ended June FY24, falling 7% compared to the corresponding period last fiscal, impacted by exceptional loss (Rs 51.9 crore) and lower operating margin. Revenue from operations jumped 17.5% year-on-year to Rs 1,001.8 crore for the quarter.
That’s all for today folks. We’ll be back with more updates soon.
Until then Happy Trading!!
Commodity Samachar
Learn and Trade with Ease