It’s the middle of the week and amid the significant buying pressure, stock market India has portrayed potential bullish rallies.
With bullish sentiment in the air, are upside moves on the cards for the Indian Indices?
Well, let’s dive in and analyze the charts!!
Nifty witnesses high buying pressure. Is it signalling a bullish rally next for stock market India?
Nifty FUT – Buy Around – 19700 | Stop Loss – 19600 | Target – 19800 |
During the previous session, Nifty opened with a gap up indicating buying pressure and broke yesterday’s high, thereby signalling a potential bullish rally in the market.
This pattern is known as a ‘belt and hold’ candlestick.
Traders can expect an upside move.
Bank Nifty surpassed yesterday’s high, inching closer to potential bullish rallies. What’s next for stock market India?
Bank Nifty FUT – Buy Around – 44600 | Stop Loss – 44300 | Target – 44900 |
During the previous session, Bank Nifty opened with a gap up indicating buying pressure and surpassed yesterday’s high, suggesting a potential bullish rally in the market.
The price also filled the gap, reinforcing the bullish sentiment.
This pattern is known as a ‘ belt and hold’ candlesticks. Traders can expect sideways moves incoming.
Stock Market India | Trending Equity News:
A lot of news has been floating around the market and here are the important ones you’ll have to keep an eye on.
Multi Commodity Exchange of India Ltd:
The Multi Commodity Exchange of India is set to go live with a new commodity derivative platform from Monday.
Reliance Industries Ltd:
Proxy advisory firm liAS likely has recommended that institutional investors should vote against the appointment of Anant Ambani on the Reliance Industries board, stating his age as the reason.
PVR Inox Ltd:
The Mumbai bench of the National Company Law Tribunal approved the merger of Shouri properties with PVR Inox.
PI Industries Ltd:
Therachem Research Medilab (India) Pvt Ltd and Solis Pharmachem Pvt. Ltd, wholly owned subsidiaries of PI Health Sciences Ltd (“Transferor Companies”_ have been merged into PI Health Sciences Ltd, a wholly owned subsidiary of PI Industries Ltd.
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
Also read: Stock Market India | A Bullish Wave was witnessed in the weekly charts. Positive outlook ahead? , Will Middle East conflict boost dollar demand again?