Market Morning Notes For 22nd May 2024
Markets on Tuesday ended with modest gains after initial hour of losses with major contribution coming from metal sector which was up 4% helping Nifty to close above 22,500. At the current juncture, markets are already geared for a 4-6% of quick upswing and we expect major short covering to emerge on surpassing of 22,600. Financial sector which holds 32% weight in Nifty index is expected to...
Awfis Space Solutions Ltd. (Avoid)
Highlights Issue Size –: 15,637,736 sharesIssue Open/Close – 22 May / 27 May, 2024Price Band (Rs.) 364 – 383Issue Size (Rs.) – 5,989 mnFace Value (Rs) 10Lot Size (shares) 39 Awfis Space Solutions Limited (ASSL) incorporate in 2014, is engage in the business of providing wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customized office...
Market Morning Notes For 21st May 2024
Markets for the week settled with gains of 2% with formation of bullish piercing line pattern on candlestick on Nifty 50 Index while movement in Nifty Bank remained subdued with gains limited to 1%. With Nifty 50 regaining control above 22,300, the bullish momentum has been activated with immediate target seen at 23,500. The target of 23,500 is based on weekly re-testing of upper range of...
Market Morning Notes For 17th May 2024
Market bounced back sharply in last hour of trade with market breadth turning positive. Action was seen in broader markets especially the capital good space with stocks rallying across the board. We expect positive momentum to accelerate further towards 22,600 in the next few trading session. At present, Nifty 50 is showing signs of double retracement which could be an indication of major...
Market Morning Notes For 16th May 2024
Market activity remained listless on Thursday, with broader markets outperforming the key indices while Nifty Bank settled with loses. With Nifty closing in the positive terrain, we expect positive momentum to accelerate towards 22,600 in the next few trading session. At present, Nifty 50 is showing signs of double retracement, which could be an indication of major accumulation for a...
GO Digit General Insurance Ltd (May Apply)
Highlights Issue Size –: 96,126,686 sharesIssue Open/Close – 15 May / 17 May, 2024 Price Band (Rs.) 258 – 272 Issue Size (Rs.) – 26,146 mnFace Value (Rs) 10Lot Size (shares) 55 GO Digit General Insurance Limited (GODGIL) incorporated in 2016, is one of the leading digital full stack insurance companies, leveraging their technology to power what they believe to...
Market Morning Notes For 15th May 2024
Markets extended gains on Tuesday post formation of hammer pattern on Monday and with formation of small bullish candle. It is highly likely now that a major bottom is already in place. At present, Nifty 50 is showing signs of double retracement which could be an indication of major accumulation for a potential upside towards 23,500. On the optimistic side, the current upmove can also stretch...
Market Morning Notes For 14th May 2024
Markets witnessed wild swings on Monday with Nifty opening lower by 200 points and later stabilising to finally settle with modest gains led by Nifty Bank. Nifty has led to formation of double bottom on short term charts after Nifty 50 held on firmly above 21,777. With India VIX trading above 20, we expect recovery in markets to be swift with near term target for Nifty seen at 23,500. We...
Market Morning Notes For 13th May 2024
Markets for the week succumbed to selling pressure with Nifty 50 declining around 2% on concerns that ruling party is unlikely to get convincing majority to cross 272 mark. With US markets still showing signs of strength and brent crude prices trading firmly below USD 84 a bbl, we expect this to act as a positive to Indian markets. In fact, Nifty 50 has managed to hold weekly support line...