Stock Market India | Indian Indices witness high selling pressure & price rebounds. What lies ahead?

Stock Market India | Indian Indices witness high selling pressure & price rebounds. What lies ahead?

It’s Thursday and stock market India seems to be in a position where it is experiencing considerable selling pressure.

With anticipation of the Indian Indices leading towards downside moves, things seem to be taking a different direction today.

Let’s analyse and find out where it’s headed next!!

Nifty faces considerable selling pressure. Where’s the market headed next?
Nifty FUT – Buy Above – 19500 | Stop Los – 19400 | Target – 19600 |

During the previous session, nifty started the day off with a gap down, facing considerable selling pressure.

The price rebounded from the downside, forming a hammer candlestick pattern.

Traders can anticipate sideways to upside moves moving forward.

Bank Nifty experiences similar conditions & rebounds from the downside. What’s next for the market?
Bank Nifty FUT – Buy Around – 44200 | Stop Loss – 43900 | Target – 44500 |

During the previous session, Bank Nifty began the day with a gap down, experiencing notable selling pressure.

The price then rebounded from the downside, forming a hammer-like candlestick pattern.

Traders can anticipate sideways to upside moves.

Stock Market India | Results of the Day:

Bandhan Bank:

Advances have grown at a pace of 12.3% y/y 1.08 trillion rupees for the quarter ended September 30, according to provisional figures released by the Bank.

V2 Retail Ltd:

The retail company has reported a standalone revenue from operations for the quarter ending September 30, 2023, which stood at INR 231.33 crore vs. INR 194.51 crore y/y from the previous year.

The Jammu & Kashmir Bank Ltd:

The private bank Jammu and Kashmir Bank reported total deposits at INR 126,589 crore vs. INR 115,715 crore Yoy, Gross advances at INR 91,680 crore vs the previous INR 79,113 crore y/y. The CASA ratio was at 50.61% vs. the 54.69% y/y.

HDFC Bank:

India’s largest private sector lender reported 57.7% y/y growth in its gross advances in the September quarter while deposits grew by about 30% y/y in the quarter.

The lender informed exchanges that its gross advances aggregated to approximately Rs 23,54,500 crore as of September, a growth of around 57.7% on a YoY basis and a growth of around 44.4% on a quarter-on-quarter (QoQ) scale.

Stock Market India | Trending Equity News:

HCL Technologies Ltd:

HCL Technologies has signed a memorandum of understanding with the Finnish government Business Finland to pursue innovation and growth in areas of generative artificial intelligence, metaverse, space and quantum.

PNC Infratech Ltd:

The engineering and construction company PNC Infratech bags a road project of INR 748 crore from the National Highways Authority of India.

Exide Industries Ltd:

Exide Industries has invested INR 340 crore by way of subscription in the equity share capital of its wholly owned subsidiary, “Excide Energy Solutions Ltd” on a rights basis.

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