Indian Indices Yield to Selling Pressure: What’s Next for the Market?

Indian Indices Yield to Selling Pressure: What's Next for the Market?

It’s Thursday and the market has yielded to the selling pressure witnessed in the previous session. 

As the day concluded analysts were baffled by what was in store for the next sessions. 

Let’s dive in and analyze what’s ‘on the table’ for this session. 

Nifty yields to significant selling pressure. Where to next? 

Nifty FUT – Buy Above – 20050 | Stop Loss – 19950 | Target – 20150 |

In the recent session, Nifty began with a downward gap, indicating significant selling pressure. 

The day had concluded in the negative, characterized by the presence of a pin bar candlestick pattern. 

Traders can expect sideways to upside moves in the upcoming sessions. 

Bank Nifty ‘hops on the bandwagon’ to Nift and witnesses high selling pressure. What’s next for the market? 

Bank Nifty FUT – Sell Below – 45650 | Stop Loss – 45350 | Target – 45950 |

During the last session, bank Nifty had started with a drop showing signs of strong selling pressure. 

it had ended in the negative zone similar to Nifty and has formed a pin bar candlestick pattern. 

Traders can expect a sideways to upside move moving forward 

Trending Equity News: 

It’s a new day and the market has a lot of news rolling in. So let’s see who’s making the news in today’s session!!

DCB Bank Ltd. and HDFC Asset Management Company Ltd:

The DCB Bank has received an intimation from RBI that it has accorded its approval to HDFC Asset Management Company Ltd to acquire aggregated holding of up to 9.5% of the paid-up share capital or voting rights of the bank. 

Exide Industries Ltd:

Exide industries has successfully invested INR 125 crore by way of subscription in the equity share capital of its wholly owned subsidiary, ” Exide energy Solutions Ltd.” on the rights basis. 

Infosys Ltd:

Infosys and NVIDIA have announced to join hands as they have expanded their strategic collaboration to aid enterprises worldwide and drive productivity gain with generative AI applications and solutions. 

SJVN Ltd.: 

The government is to sell 96.667 million shares (2.46% stake) in the company with an option to sell an additional 2.46% stake through the OFS route. The floor price has been set at INR 68/share. 

That’s all for today folks. 

We’ll be back with more news soon. 

Until then, Happy Trading!!

Commodity Samachar

Learn and trade with Ease