India Shelter Finance Corporation Ltd. (Avoid)
Highlights Issue Size –: 24,340,771sharesIssue Open/Close – 13 Dec / 15 Dec, 2023Price Band (Rs.) 469 – 493Issue Size (Rs.) – 12,000 mnFace Value (Rs) 5Lot Size (shares) 30 India Shelter Finance Corporation Limited (ISFCL) incorporated in 1988 under name of Satyaprakash Housing Finance Limited and later in 2010 company got fresh certification of incorporation. The Company is non-deposit...
Market Morning Notes For 12th Dec 2023
Markets ended with marginal gains on Monday with formation of small doji star as Sensex approached towards the resistance line. For the week, the focus remains on the U.S Fed meet scheduled on Wednesday where outlook for interest rate projection for 2024 is expected. Any signs of weakness in Dollar Index may trigger volatility in global markets as Japanese Yen is already showing signs of...
Weekly Market Outlook From 4th Dec to 8th Dec 2023
Nifty hits 21K mark; Fed, BoE, ECB meetings in focus Benchmark indices gained for sixth straight week on back of strong macroeconomic data, optimism surrounding U.S. rate cut in March, and the ruling BJP’s win in three key state elections. Global markets were firm buoyed by improved sentiments worldwide regarding the end of the rate hike cycle. The Nifty ended up 3.5 pct to 20,969...
Market Morning Notes For 11th Dec 2023
Markets for the week extended gains for the sixth straight week with Sensex posting gains of 3.5% on back of strength emerging in Service Sector Index. The Breakout in Nifty Service Sector Index which holds 53% weight in Nifty 50 index provides key trigger for further extension of rally. At present, Sensex on weekly chart has posted third degree negative divergence as Sensex approaches...
Market Morning Notes For 8th Dec 2023
Markets ended with marginal losses after 7 days of consecutive gains led by profit booking in Banking stocks while USDINR continued to trade above breakout zone of 83.30 levels. The Sensex has been trading from touch away distance from rising resistance line while Nifty 50 has already tested the same. At present scenario, major risk for Indian markets comes from appreciating Japanese Yen...
Market Morning Notes For 7th Dec 2023
Markets extended gains with Nifty closing above 20,900 on the back of surge in Nifty IT index which was up by more than 1.5% while profit booking was seen Nifty Bank. The daily RSI in Nifty 50 Index has reached extreme overbought zone to record high levels of 84 on back of short covering in Nifty Call options and with India VIX closing above 13.5. The risk of quick reversal in the coming days...
Market Morning Notes For 6th Dec 2023
Markets on Monday broke out from triple top formation after opening with breakaway gap and followed with significant higher closing in past few days. The short covering in Nifty Bank acted as a key catalyst for forcing Nifty journey beyond 20,500. The recent Breakaway gap appearing after extended up move has the ability to turn into exhaustion gap, if prices close below 67,411 in Sensex and...
Complete Guide On Income Tax Declaration
It is that time of the year when you’re supposed to share your investment declaration proofs with your employer. While there are sufficient ways to make tax-saving investments, you will need to declare it to your employer by submitting the required proofs or supporting documents to claim these deductions. But what proofs are required to be submitted? And what happens if you fail to...
Market Morning Notes For 4th Dec 2023
Markets extended gains for the fifth straight week after optimism prevailed on back of exit poll results with Sensex posting bullish belt hold bar on weekly basis. Sensex, which was just inches away from all-time highs may be opening with gap up after 3-1 victory in state elections for the BJP and may be forced to test 1.5% higher resistance line of 68,415. The weekly RSI which is showing...