Technical charts show the Nifty Auto index can potentially rally another 10% to 26,180 levels; while select stocks such as M&M, Tata Motors and Ashok Leyland can surge up to 15%.
IREDA stock is seen attempting a breakout on the daily scale, while SJVN is testing support at the key monthly moving average, which the stock has held since August 2020; shows the technical charts.
Aegis Logistics has seen a strong spurt in price and volumes in the last trading session from the cluster of its significant EMAs on the daily chart
Stocks to buy today: Jigar S Patel of Anand Rathi suggests initiating long positions in HDFC Bank share price in the 1,850-1,875 range, with an upside target of 2,050
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings. These IPOs will span various sectors, and deal sizes, and include both fresh issues and offers for sale. Trivesh D, COO of Tradejini, an online brokerage house, told PTI that the Maharashtra election verdict and the UP Lok Sabha by-election results have created a positive market sentiment that could boost IPO activity and fundraising efforts. While 2024
Nifty has started forming lower tops and lower bottoms on the daily chart. Nifty also closed below the previous swing low of 24567, which could drag the index to the lower levels
Stock Market Today: Analysts anticipate a weak Q2FY25, with potential profit dips due to declining refining margins for Reliance Industries.
Stock Market Today: Morgan Stanley and Citigroup have acquired 43.75 lakh shares of HDFC Bank for over Rs 755 crore at an average price of Rs 1,726.20 each.
Over the past few months, IDFC First Bank has consistently maintained a strong support level between Rs 70-71, despite several challenges from downward market trends.
The Nifty FMCG Index is demonstrating a bullish trend in the near term, as indicated by its recent upward movements on the charts.
At the current juncture, ICICI Bank has found support within its previous breakout range and has maintained this level for the past three sessions.
Nuvama Alternative & Quantitative Research expects the bullish momentum in the market to continue with sectoral rotation in August derivatives series.
From the low, Nifty recovered 470 points towards 24544 and ended the session at 24479.
Birlasoft stock price has broken out from the consolidation, which held for the previous two weeks. Price breakout is accompanied by rise in volumes
An average Indian couple spends around 2x on weddings versus education (pre-primary to graduation), according to the Jefferies note, which is in sharp contrast to countries such as the United States
Oil prices are moving higher after posting three straight weekly declines following Opec+ decision on June 2
On the daily chart, Apollo Hospitals has formed a double bottom pattern at the 200-day Exponential Moving Average (DEMA), which is considered a strong support level
Jubilant FoodWorks stock is likely to test the previous swing high of Rs 543, and can extend towards Rs 549 from a short-term perspective. A stop loss of Rs 507 should be kept for the long positions
After a period of consolidation in the approximate range of Rs 505-530, UPL has successfully broken out of a bearish trendline that had persisted for 5 months
On the daily chart, MCX Copper has been unable to sustain the breakout of its rising channel pattern and has moved down, forming a lower high, lower low pattern, indicating bearish sentiment