Will Indian Indices witness a downside trend continuing? What’s next for the traders?


It’s the end of the week, and time to get the equity outlook of the week. Let’s see what the stock market has in store for you.

Let’s Begin!!

A Bearish Candlestick pattern was witnessed. What’s next for traders?

As per our technical analysis, the last session of NIfty was rejected from the resistance zone and it formed a strong bearish candle. We expect more downtrend incoming.

Our recommendation:

Sell below – 18800
Stop loss – 19100
Target – 18600

Rejection from the Upside and downward trend. Traders would have to traverse the market cautiously today!!

Our technical analysts have been on it the whole morning and here’s what they have to say. The last session of Bank Nifty
was rejected from the upside and formed an inverted hammer candlestick pattern. We expect more downside moves.

Our recommendation:

Sell below – 43700
Stop loss – 44300
Target – 43200/42700

Trending Stocks of the Day:

The hottest stock pics for you to choose from on the final day of the week.

BUY SOME HEALTHY STOCKS!!
BUY CIPLA FUT

Buy around – 1000
Stop-loss – 990
Target – 1010

SELL!! SELL!! SELL!!
HEROMOTOCORP FUT

Sell below – 2822
Stop loss – 2865
Target – 926

IT’S SELL TIME!!
SELL ICICIBANK FUT

Sell below – 933
Stop loss-940
Target – 926

SELL AWAY THESE STOCKS RIGHT NOW!!
SELL RECLTD FUT

Sell below – 158
Stop Loss – 161
Target – 155

IT’S A SELL DAY TODAY!!
SELL LTFH FUT

Sell around – 122
Stop loss – 125
Target – 119

SELL NOW!!
SELL PFC FUT!!

Sell below – 202
Stop Loss – 206
Target – 198

Trending Equity News:

The Indian indices looks quite strong today

CA Swift Investments has exited Delhivery by selling the entire 1.84 crore equity shares or 2.53% stake via open market transactions at an average price of Rs 385.5 per share, which amounted to Rs 709.5 crore. Norges Bank, on behalf of the Government Petroleum Fund, purchased some of those shares in a deal, paying the same price of Rs 156.77 crore for 40.66 lakh equity shares, or 0.55% of the firm.

Private equity firm TPG Capital is likely to sell 44 lakh equity shares or 11% stake in the automotive retailer via a block deal on June 23, reports CNBC-Awaaz quoting sources.

Through open market transactions, foreign venture capitalists CVCIGP II Employee Ebene and Client Ebene sold Rs 622.34 crore worth of shares or 14.08% of Sansera Engineering.

Aether Industries said the Fund Raising Committee has approved an allotment of 80.12 lakh equity shares to 36 qualified institutional buyers at an issue price of Rs 936 per share and raised Rs 750 crore.

That’s all for today folks.
We’ll be back with more info soon, so stay tuned.

Until then, Happy Trading!!

Commodity Samachar
Learn and Trade With Ease