Indian indices witness high volatility in the last session! Where will the market go from here?

It’s Thursday, and a whole lot of information is storming the market. With the stock market performing fruitfully and previously witnessing an all-time high, what should traders look out for?

Well, without further delay let’s begin!!

Nifty Witnessed volatile trade in the last session. What’s next for the market?
Buy Around – 19490| Stop loss – 19400 | Target – 19580

It was a whirlwind of a session of Nifty and it witnessed a highly volatile market for traders. Nifty formed a doji candlestick pattern and our technical analysts expect sideways moves today.

Bank nifty under selling pressure!! Can traders expect the same movements as Nifty?
Buy around – 45100| Stop Loss – 19400 | Target – 19580

In the last session of Bank Nifyy, the gap down seems to be under buying and selling pressure. It formed a doji candlestick pattern and so traders can expect sideways movement.

Trending Equity News:

As always a lot of exciting news has hit the market today, so let’s dig into what the stock market has to offer.

DCB Bank:

The Reserve Bank of India has granted its approval to Tata Asset Management to acquire a shareholding of up to 7.5% in DCB Bank through the schemes of Tata Mutual Fund. A year after the date of the RBI letter, the approval is still in effect. The RBI has also directed Tata Asset Management to make sure that its total stake in DCB Bank does not ever go above 7.5%.

KEC International:

The infrastructure EPC major KEC international has secured new orders of Rs 1,042 crore across its various businesses including the maiden international order for a signalling & telecommunication project in SAARC, and also orders for T&D projects in India, the Middle East, Europe and America.

Ujjivan Small Finance Bank:

Ujjivan Small Finance Bank has reported a 44% year-on-year growth in total deposits at Rs 26,655 crore for the quarter ended June FY24 and the sequential growth was 4%. CASA saw a 3% QoQ decline but a 27% YoY growth to Rs 6,550 crore. While advances increased by 31% YoY and 5% QoQ to Rs 25,346 crore, disbursements declined 12% QoQ but expanded 22% YoY to Rs 5,280 crore, driven by strong growth in micro banking, housing, and FIG.

That’s all folks. We’ll be back with more market news, until then!

Happy Trading!!

Commodity Samachar
Learn and Trade With Ease