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Stock Market India | Indian Indices Retreat to Narrow Trading Range. What’s next?


Stock Market India | Indian Indices Retreat to Narrow Trading Range. What's next?

It’s Tuesday and traders in Stock market India are in for the most unpredictable of sessions. 

Unpredictable sessions along with high volatility have provided traders with a surprising turn of events waiting for them. 

However, the question on everyone’s mind is, where will the market be heading next? 

Let’s get started on that!!

Nifty prepares traders for ‘unpredictable sessions’. What can traders expect? 

Nifty FUT – Buy Around – 19600 | Stop Loss – 19500 | Target – 19700 | 

During the last session, nifty had started with little change and it turned out to be quite an unpredictable session. 

The 50-day moving average provided solid support, preventing the price from dropping significantly. 

As a result, the day ended with a narrow trading range and the formation of a doji candlestick pattern

Traders can expect sideways movements today. 

Bank Nifty follows suit to Nifty and causes price fluctuations. What’s next for the market? 

Bank Nifty FUT – Buy Around – 44400 | Stop Loss – 44100 | Target – 44700 |

During the previous session, bank nifty began with little change and it turned out to be quite an unpredictable session. 

The 50-day moving average has acted as a solid resistance, causing the price to fluctuate on both sides.

This turn of events has resulted in the formation of a spinning bottom candlestick pattern. 

Traders can expect sideways movements in the upcoming sessions. 

Trending News| Stock Market India: 

It’s the second day of Stock Market India session this week and a cluster of news has arrived which is controversial, interesting and might just change the fate of the market. Let’s dive in and analyze. 

State Bank of India: 

The RBI has vide its letter dated September 25, 2023, imposed a monetary penalty of INR 1.30 crore on the State Bank of India for non-compliance with certain directions issued by RBI. 

Wipro Ltd. :

The IT company has informed about the sale of land admeasuring 14 Acres and 2 cents, located at No. 475 A, Wipro Street, Sholinganallur, Chennai, together with a 20-year-old building of approximately 589, 778 sq. ft for a sale consideration of INR 266.38 Cr.

HDFC Asset Management Company Ltd. :

The asset management company has invested a whopping INR 25 crore in the equity shares capital of its Wholly-owned Subsidiary “HDFC AMC International (IFSC) Ltd.”

Welspun Corp Ltd.: 

Welspun Corp wholly owned subsidiary Sintex BAPL has entered into an MOU with the state government of Telangana to set up water tanks and PVC pipes facilities in the state with up to INR 350 crore investment. 

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: Indian Indices React to High Selling Pressure. What’s Ahead for the Market?