It’s Tuesday and after a strong selling session, analysts expect a downside trajectory in the market. A lot of info has arrived today, so let’s get into it right now!!
So without further delay let’s begin!!
Strong selling in the last session of Nifty. Will the downside trend continue?
Our technical analysts, after continuous analysis, observed that the market was following a downward trend after strong selling pressure in the last session.
The last session of Nifty created strong selling pressure and tested a resistance zone and formed a bearish belt hold candlestick pattern. We expect more Downside moves.
Our recommendation:
Sell around – 18900
Stop-loss – 19000
Target – 18800
The downside trend continues in Bank nifty as well. What should traders expect?
In the last session, Bank Nifty Seemed under strong selling pressure and formed a bearish belt holding a kind of candlestick pattern. We expect some downside moves.
Our recommendation:
Sell around – 43900
Stop-Loss – 44200
Target – 43600
The trending stocks of the day:
It’s Tuesday and it’s time to list out our favourite stocks to focus on.
Our technical analysts have been on market watch since the break of dawn, and here are the hottest stock picks in the market just for you.
SELL!!
COALINDIA FUT!!
Sell around 229
Stop loss – 231
Target – 227
IT’S SELL TIME!!
COROMANDEL FUT
Sell below – 937
Stop loss – 954
Target – 921
EXCITING STOCKS COMING YOUR WAY!!
BUY DABAR FUT!!
Buy above – 573
Stop loss – 568
Target – 578
SELL! SELL!! SELL!!
IGL FUT
Sell below – 460
Stop loss – 470
Target 450
BUY!! BUY!! BUY!!
OFSS FUT
Buy above – 3890
Stop loss – 3835
Target – 3945
The Hottest Equity News:
It’s day 2 of the weekly trades and traders will have to keep an eye out for the following news. So let’s begin!
Abrdn Investment Management (formerly Standard Life Investments) is expected to exit HDFC AMC by selling the entire 2.18 crore equity shares or 10.2% stake via block deals on June 20. The selling price is likely in the range of Rs 1,800-1,892.45 per share, a 0.0-4.9 per cent discount to a closing price of June 19. BofA Securities is the sole book-runner for the transaction.
HDFC has executed definitive documents for the sale of approximately 13.29 crore equity shares or a 90% stake in HDFC Credila, to BPEA EQT group and ChrysCapital group, for approximately Rs 9,060.49 crore. Following the proposed transaction, HDFC Credila will no longer be a subsidiary of the Corporation, and the Corporation will own less than 10% of HDFC Credila. The buyers are Kopvoorn BV, Moss Investments, Defati Investments Holding BV, and Infinity Partners, all of whom are a part of the ChrysCapital group and are a part of the BPEA EQT group.
On June 19, the manufacturer of speciality chemicals started its qualified institutional placement (QIP) offering. The fundraising committee has set the floor price for the offer at Rs 984.90 per share. The expected amount raised is estimated to be approximately Rs 750 crore, according to CNBC-TV18’s sources.
3i Infotech, the technology service provider has received a contract from the Indian private sector bank, for managed services partner for the data centre domain. The two-year deal has a total value of Rs. 42.60 crore.
That’s all for today. We’ll be back with more in the next session, until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease