Markets ended with a marginal gain after trading in a narrow range on Monday and formed a small doji star on a candlestick. There is strong support seen in Sensex at 62802 which turned out to be low on 20th June 2023 and if this support is held on even in today’s trading session, we expect weekly closing to occur with gains of 2-3% over the previous week. In Nifty 50 spot terms, the simultaneous weekly target would turn out to be around 19025-19040 with major gains expected from Reliance Industries.
Nifty 50 Chart
Stocks to watch
Positive Read Through
- Bharti Airtel has announced changes in its leadership team in Airtel Business.
- Tech Mahindra subsidiary to divest its 49 pct stake in SARL Djazatec.
- City Union Bank has received approval from the BoD for raising further capital to the tune of Rs 500 crore via QIP.
- BLS International- Subsidiary BLS E-Services have approved fund raising via IPO.
- Aditya Birla Capital has opened its QIP issue with the floor price set at Rs 175.99 per share.
- Sun Pharma-gets Health Canada nod for Absorica LD, an acne drug
- Parag Milk Foods- Sixth Sense India Opportunities III, a VC fund managed increased its shareholding in by 0.67 pct.
- Sapphire- reports say WWD Ruby to sell entire 30 lakh shares in Co ar Rs 1345-1391 a sh via block deal.
- Navin Fluorine- Board to consider fund raise on June 30
Negative Read Through
- ICICI Pru- gets SCN from DGGI for unpaid tax of Rs 492.06 cr from Jul’17 – Jul’22
- Rolex Rings- Ashokkumar Dayashankar Madeka sold 1.4 lakh shares at Rs 2078 a sh
- Aavas Financiers- Small Cap World Fund Inc has offloaded another 0.97 pct stake at an average price of Rs 1,437.74 per share.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it
