Market Morning Notes For 21st October 2024
Markets exhibited weakness for third straight week with Nifty closing well below the 25,000 mark. However, despite rebound from 24,700 zone, the outlook remains cautious with near term target seen at 22,800. The formation of lower high and lower low on weekly chart suggests that major volatility is likely in the coming days. Result Today – Bajaj Housing Finance, Gravita, Ultratech...
Waaree Energies Limited (Subscribe)
Highlights Issue Size –: 28,752,095 sharesIssue Open/Close – 21 Oct / 23 Oct, 2024Price Band (Rs.) 1427 – 1503Issue Size (Rs.) – 43,214 mnFace Value (Rs) 10Lot Size (shares) 9 Waaree Energies Limited (WEL) incorporated on 1990, is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. They commenced operations in 2007 focusing...
Market Morning Notes For 18th October 2024
Markets activated larger decline led by broad based selling with Nifty breaching key support of 24,800 despite strength in global markets. The 2 yrs of bullish setup in Tokyo Nifty inverse suggest that Nifty 50 Index likely is to be positioned for 20% fall in the coming months with immediate target seen at 22,900. The Nifty has entered free fall zone below 24,800, after which wider single day...
Market Morning Notes For 17th October 2024
Markets extended selling pressure on Wednesday after a bearish dark cloud cover on Tuesday and was followed by closing below the psychological mark of 25,000 in Nifty. The inherent strength of markets has diminished in the past few days and any attempts to rally higher are met with stiff resistance with broad based selling. The current state of markets may be a pause before a larger decline...
Market Morning Notes For 16th October 2024
Markets on Tuesday failed to carry on positive momentum despite higher opening and later succumbed to selling pressure leading to trend reversal pattern of dark cloud cover. The inability to cross previous week high of 25,234 exhibits weakness for markets with high likelihood of breaching support of 24,700. The overall view suggests that markets are getting positioned for a larger decline in...
Market Morning Notes For 15th October 2024
Markets rebounded sharply on back of support from Bank Nifty helping Nifty-50 to regain above 25100. It is not unusual that indices attempt rebound as they are trading close to 50 DMA, but as long prices trade below previous week high risk of sharp decline is not ruled out. At present markets are going through dead cat bounce pattern with short term major resistance for Nifty seen at 25,235...
Hyundai Motor India Limited (Subscribe)
Highlights Issue Size –: 142,194,700 sharesIssue Open/Close – 15 Oct / 17 Oct, 2024Price Band (Rs.) 1865 – 1960Issue Size (Rs.) – 278,701 mnFace Value (Rs) 10Lot Size (shares) 7 Hyundai Motor India Limited (HMIL) incorporated on 1996, is a part of Hyundai Motor Group and it is the 3rd largest auto original equipment manufacturer (OEM) in the world based on passenger vehicle sales...
Market Morning Notes For 14th October 2024
Markets for the week ended with modest losses with Nifty ending below the psychological mark of 25,000 amidst Israel-Iran tensions. From a technical perspective, the signs of reversal are already witnessed in Nifty, but a larger impact is likely to be felt on Nifty breaching 24,700 as heavy stop losses are built around there for risk management perspectives. Below 24700 in Nifty, the markets...
Market Morning Notes For 9th October 2024
Markets managed a rebound with gains over 1% on back of unexpected victory to BJP in Haryana Assembly elections with Nifty holding the support of 24,700. The short-term oscillators although hints at an oversold terrain for Nifty but rebound is unlikely to extend beyond 25,285 as downside projection of rising wedge of 22,800 is yet to be completely established. The overall strategy remains...