Will Indian Indices Experience an Upside Move? Analysts Offer Different Views!

It’s the beginning of the new week and the Indian Indices have taken a back seat to all the events taking place. 

The Indian indices have faced high selling pressure and as a factor bearish forces are beginning to take over. 

What will be the fate of the market moving forward? 

Let’s analyze!!

Nifty witnessed strong selling pressure!! What should traders expect? 
Nifty FUT – Sell Below – 19700 | Stop Loss – 19800 | Target – 19600 |

During the previous session, nifty began with little change and briefly touched 19800, but then it faced strong selling pressure. 

it closed near the 50 DMA and a support zone, forming a bearish inverted hammer candlestick pattern. 

Traders can expect downside moves!!

Bank nifty attempts to cross the 45000 threshold, but faces high selling pressure. Where will it go next?
Bank Nifty FUT – Sell Below – 44600 | Stop Loss – 44900 | Target – 44300 | 

During the previous session, bank nifty started with a gap-up and tried to touch the 45000 range. 

However, it had faced heavy selling pressure. The price has closed near a support zone, forming a bearish inverted hammer candlestick pattern. 

Traders can expect downside moves.

Trending Equity News: 

It’s the beginning of a new week and the market scene is thriving with new exciting news. Let’s dive in and find out what’s trending!!

Reliance Industries Ltd: 

Reliance Retail Ventures Ltd has received a subscription amount of INR 2069.50 crore from Alyssum Asia Holding II Pte. Ltd (KKR) and allowed 1,71,58,752 equity shares to KKR. 

Ircon International Ltd.: 

The engineering and construction company has executed an agreement with Sri Lanka Railways for a railway project from Maho Junction to Anuradhapura under the Indian Line of Credit at a total price of approximately INR 122 crore.

Shree Renuka Sugars Ltd.:

Shree Renuka Sugars has entered into a binding agreement for the acquisition of 100% of the equity shares of Anamika Sugar Mills Pvt. Ltd for INR 235.5 crore. 

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?