It’s Tuesday and we’re going straight into the elements of the stock market. As per technical analysts at Commodity Samachar, we’ve noticed high volatility in the market that can be detrimental for traders to act in a certain way.
Data is everything, so let’s analyze what we have in store.
Without further delay let’s begin!!
Nifty witnessed high volatility in the market. Should traders be worried?
Buy above – 19480 | Stop loss – 19380 | Target – 19580 |
Our technical analysts have been systematically analyzing and following each trail, the market makes and here’s what we found.
Nifty opened the gap up and it seems to be highly volatile. It’s formed an inside bar candlestick pattern and sideways movements are expected. Furthermore, it’s been noticed that this sideways movement will lead to more upside movement as well. Traders should probably trade cautiously today!!
Bank Nifty caught the Nifty wagon and witnessed volatility as well. What’s next for the market?
Buy Above – 45100 | Stop-loss – 44750 | Target – 45450 |
Similar to Nifty, Bank Nifty also opened the gap up and seem highly volatile. It’s formed a doji kind of candlestick pattern and more sideways movements are expected. Furthermore, upside moves shall also be occurring after transitioning from sideways moves.
Trending Equity News:
It’s a new day, and several companies have been making their mark known on the market before opening. Let’s see what they have to say.
State Bank of India:
The country’s largest lender has proposed to participate in an initial public offering (IPO) of National Securities Depositories (NSDL) through an offer-for-sale of up to a 2% equity stake or 40 lakh shares in NSDL. In NSDL, the bank owns a 5% interest.
Tata Communications:
Oasis Smart Sim Europe SAS (OSSE France), a subsidiary of Tata Communications International Pte Ltd (TCIPL), has entered into a share purchase agreement to acquire the company’s remaining shares. TCIPL will thereby expand its equity interest in OSSE France from its current stake of 58.1% to 100% as a result.
CarTrade Tech:
The multi-channel auto platform has entered into a share purchase agreement with Sobek Auto India and its holding company OLX India B V for the acquisition of a 100% stake in Sobek Auto India from OLX India B V. The price of the acquisition is Rs. 537.43 crore.
Cyient DLM:
Nippon India Mutual Fund via Power & Infra Fund has bought 5 lakh shares or 0.63% stake in the engineering manufacturing services and solutions provider via open market transactions at an average price of Rs 403 per share. Nippon Life India Trustee Ltd – A/C Nippon India SMA already held a 1.14% stake in Cyient DLM.
That’s all the news we’ve got for you today. But no worries, we’ll be back every day to bring you the latest equity and stock market news.
So until then,
Happy Trading!!
Commodity Samachar
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