Jyoti CNC Automation Ltd (avoid)
Highlights Issue Size –: 30,211,480 sharesIssue Open/Close – 9 Jan / 11 Jan, 2024Price Band (Rs.) 315 – 331Price Band (Rs.) 315 – 331Face Value (Rs) 2Lot Size (shares) 45 Jyoti CNC Automations Limited (JCAL) incorporated on 2008, is one of the world’s leading manufacturers of metal cutting computer numerical control (CNC) machines with the 3rd largest market share in...
Market Morning Notes For 9th Jan 2024
Markets succumbed to selling pressure on Monday after Sensex failed to cross the resistance of rising channel and followed with closing almost 1% lower with major selling seen in Nifty Bank. At present, markets are trading at a crucial juncture and prone to major downside risk in the coming days. With JPYINR already positioned to rise by 11%, we can expect major pressure on Financials and...
Market Morning Notes For 8th Jan 2024
Markets for the week ended with doji star formation after prices oscillated in a narrow range to finally close in marginally negative terrain. As doji star has occurred near the resistance zone of rising channel, markets are prone for a sharp reversal in the coming days. In order for Sensex to accelerate positive momentum, Sensex needs weekly closing above 72,600. On the downside, lows of...
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Market Morning Notes For 5th Jan 2024
Markets reversed Wednesday’s losses with gains coming from Reality and Financial stocks helping Nifty close higher by more than 0.5% with strength emerging from broader markets. The gains were seen across emerging markets on expectation of dovish outlook in Fed minutes. However, considering overbought positions of Indian markets, we may experience major slide once Sensex closes below 71,350....
Market Morning Notes For 4th Jan 2024
Markets witnessed selling pressure on Wednesday with Sensex violating key support of 71,483 on back of selling in technology stocks while financials managed to recoup losses in the last hour of trade. The outlook after Sensex close below 71,483 has turned cautious and we expect upper band of channel to act as a resistance in the near term. On the downside, prices may approach to re-test 50...
Market Morning Notes For 3rd Jan 2024
Markets remained under pressure on Tuesday on back of selling pressure in Nifty Bank but recouped losses in last hour of trade to end with loss of less than 0.4%. The sectors namely metals and pharma managed to outperform key indices while financials turned out to be a major drag. At the current juncture 71,483 is likely to act as a crucial support below which we can expect selling pressure...
Market Morning Notes For 2nd Jan 2024
Markets ended with marginal gains on Monday on back of lower volumes on first day of the year with FMCG index outperforming most of major indices. At present, the Sensex has been hovering at upper end of channel with formation of negative divergence in RSI, this may indicate that the market is prone to profit booking in the coming days. Also, sustenance of India VIX above 14.5 mark is a cause...