It’s the end of the week and the excitement in the market has not let us down one bit. The impeccable performances of the market and its achievement in hitting a lifetime high have given a newfound admiration for traders.
So without further delay, let’s begin with what’s in store for traders.
Nifty hits a lifetime high and a bullish rally begins!! What should traders expect?
Buy around – 19500 | Stop loss – 19400 | Target – 19600
Excitement has been brewing in our research cabin as Nifty in its last session, witnessed a highly volatile market and made a new lifetime high. It started a bullish rally, formed a bullish belt and held a candlestick pattern. Our technical analysts expect bullish moves moving forward.
Bank Nifty follows suit to Nifty and makes a lifetime high. Is it time for traders to take action?
Buy around – 45450 | Stop loss- 45250 | Target – 45650
Bank Nifty follows the Nifty wave and cruises to a lifetime high. it witnesses a highly volatile market and started a bullish rally. It formed a bullish belt and held a candlestick pattern and technical analysts at Commodity Samachar expect an upside move in the market today. So traders, keep an eye out for fruitful opportunities.
Trending Equity News:
It’s the final day of an exciting week in the market and we couldn’t be happier to show you the companies that are making the headlines today.
Ideaforge Technology:
The leading drone manufacturing company will finally make its debut on the bourses on July 7. The issue prices have now been fixed at INR 672 per share.
Sobha:
The south-based real estate developer, Sobha has recorded a 27.9% year-on-year growth in total sales at Rs 1,465 crore for the quarter ended June FY24, which is the highest ever quarterly sales value, while sales volume increased by 2.6% YoY to 1.39 million square feet. Price realisation for the quarter surged 24.6% to Rs 10,506 per square foot compared to the same period last year. 624 residences totalling 0.97 million square feet of saleable space have been built by the company.
Titan:
Titan, a manufacturer of everything from jewellery to watches, reported a 20% increase in revenue year over year for the June FY24 quarter, with double-digit growth seen across all major consumer divisions. The quarter saw a total of 68 locations added, including CaratLane, bringing Titan’s retail footprint to 2,778. 18 new stores were added to the jewellery division, which saw a 21% YoY growth. Sales in the watches & wearables segment grew by 13% YoY, while those in the eyecare segment rose by 10% YoY. The fragrances & fashion accessories segment saw an 11% YoY growth, driven by a 9% growth in fragrance sales and a 13% growth in fashion accessories. CaratLane reported a 32% YoY growth that was supported by strong contributions from numerous sources.
JK Cement:
JK Cemenet’s subsidiary JK Maxx Paints has acquired a 20% stake, as a second tranche, in Acro Paints for Rs 60.24 crore. Consequently, JK Maxx Paints has acquired a total of 80% stake in Acro Paints, the paint & construction chemicals manufacturer, with immediate effect.
Capacite Infraprojects:
The construction engineering firm has raised Rs 96.3 crore after its board members approved the preferential allocation of 56.65 lakh equity shares to 17 non-promoters, including Param Value Investments, Vikas Vijaykumar Khemani, Capri Global Holding, and Value Prolific Consulting, at an issue price of Rs 170 per share.
Piramal Enterprises:
In other news, foreign portfolio investors New World Fund Inc. and Small Cap World Fund Inc. sold all 34.62 lakh equity shares and 23.92 lakh shares, respectively, from Piramal Enterprises at an average price of Rs. 941.15 per share. The stake sale amounted to Rs 551.03 crore.
That’s all for today folks. We’ll be returning shortly with more news on equities.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade With Ease