It was a hectic week for stock market in India and traders as bearish forces slowly grappled with stock market India’s movements.
With strong selling pressure and sideways moves all week, it seemed like there was no escape for stock market India to the top. So with these bearish forces in play, what’s a strategy that traders will have to adopt?
Well, our analysts have gone through the charts and they’ve got a pretty great idea as to how to go about it. Without further aidue, let’s get started!!
Nifty experienced strong selling pressure and ranged trade. Can the stock market India make a comeback?
Buy Above – 19500 | Stop Loss – 19900 | Target – 19100 |
Nifty had opened the flat with strong selling pressures. However, the price traded within a range.
Some geopolitical issues added strength to the selling pressure and analysts as well as trades expected some sideways trends.
Nifty has formed a belt and hold candlestick pattern.
Resistance has been placed at 19800/20000. Support has been placed at 19400/19200.
Bank Nifty experienced selling pressures amidst bearish forces taking over. What’s next for stock market India?
Buy Above – 43600 | Stop Loss – 43900 | Target – 43300 |
Bank Nifty had opened the gap down, tested the 44590 levels and then faced strong selling pressure.
However, the price had traded within a range. Analysts as well as traders expected sideways trends.
it has formed an inverted hammer candlestick pattern.
Resistance has been placed at 44600/45000. Support was placed at 43700/43300.
Stock Market India | Stocks in Focus:
Here are the top contenders for the top positions in this week’s market. Let’s get started with it.
Media:
NAZARA EQ
Buy Above – 860 | Stop Loss – 800 | Target – 920 |
PERSISTENT EQ
Buy Above – 5950 | Stop Loss – 5600 | Target – 6300 |
IT:
LTIM EQ
Buy Above – 5500 | Stop Loss – 5000 | Target – 6000 |
Consumer Durables:
AMBER EQ
Buy Above – 3080 | Stop Loss – 2800 | Target – 3380 |
TTKPRESTIG EQ
Buy Above – 815 | Stop Loss – 760 | Target – 870 |
Stock Market India | Trending Equity News:
It’s the beginning of the week and during the weekend, a lot of companies have been making waves in the market. It’s time to analyse the news and get a better idea of the stock market. So without further adieu, let’s get started!!
Aditya Birla Fashion Retail Ltd:
ABFRL has entered into a Shareholder’s Agreement (“SHA”) and Share Subscription Agreement (“SSA”) for the acquisition of a 51% stake in Style verse Lifestyle Private Ltd on a fully diluted basis for INR 155 crore.
Lemon Tree Hotels Ltd:
The hotel chain has signed a License agreement for a 49-room property in Kasauli, Himachal Pradesh under the Company’s brand “Lemon Tree Hotels”. The hotel is expected to be operational by FY 2025.
Tata Power Company Ltd:
Tata Power Renewable Energy Ltd has signed a Power Delivery Agreement (PDA) with Supreme Petrochem Ltd for a 12.5 MW group captive project through SPV – TP Saturn Limited.
The plant will generate around 27.5 million units of renewable power annually.
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