The story that stock market India is writing is ‘one for the books’. It has its ups and downs, but just like a hero rises, ‘they always get back up!!’
Such is the story of the weekly trend that stock market India portrayed in the previous weekly session.Â
Nifty and Bank Nifty may have displayed a weak trend in the past week but will the fate be in the coming week?
Let’s analyze and understand the momentum of the Indian indices.
Nifty portrayed natural weak trends. But is there hope for upward movements in stock market India?Â
Buy Above – 19800 | Stop Loss – 19500 | Target 20100 |
Nifty started the week off on a flat note and exhibited high volatility. The price faced resistance from both upside and downside movements.
The relative strength shows a positive divergence. If the price breaks above 19,770, traders can anticipate upward movements.
The chart has formed a doji candlestick pattern.Â
Resistance is placed at 20000/20500. Support has been placed at 19500/19200.
Bank Nifty follows Nifty’s trajectory in stock market India. Is there room for improvement?
Sell Around – 44600 | Stop Loss – 45600 | Target – 43600 |
Bank Nifty started the week with a flat opening, displaying high volatility. It has faced resistance from both the upside and downside movements.
The momentum indicators suggest weakness and a double-top pattern has been identified in the price movements.
Additionally, the price found support at the 20 DMA.
The chart has formed a doji candlestick pattern.Â
Resistance was placed at 45000/46000. Support was placed at 43800/42800.
Stock Market India | Stocks in Focus:
An exciting trading session is awaiting in stock market India and if you know which stocks to focus on, it’s just going to get more exciting. So without further adieu, let’s dive into the stocks in focus .
Pharma:
ABBOTINDIA EQ | Buy Above – 23300 | Stop Loss – 20300 | Target – 26300 |
LALPATHLAB EQ | Buy Around – 2500 | Stop Loss – 2000 | Target – 3250 |
Metal:
HINDCOPPER EQ | Buy Above – 165 | Stop Loss – 145 | Target – 185 |
APLAPOLLO EQ | Buy Above – 1680 | Stop Loss – 1480 | Target – 1880 |
Consumer Durables:
VGUARD EQ | Buy Above – 310 | Stop Loss – 260 | Target – 360 |
Stock Market India | Trending Equity News:
Excel Industries Ltd:
The company is closing its operations at the Ahmedabad unit located at Narol Sarkhej Octroi Naka, near Sewage farm, Behrampura, Ahmedabad. The operations will be closed with effect from 1st October 2023.
Infibeam Avenues Ltd:
infibeam avenues ltd. has sent a proposal to license and support its Base Marketplace intellectual property to Government e-Marketplace (GeM), the online public procurement platform of the Government of India.Â
Kirloskar Ferrous Industries Ltd:
The company has acquired 100% of the paid-up equity share capital and the sole management control of Oliver Engineering Private Limited.
That’s all for today folks.
We’ll be back soon with more interesting news.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease
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