Markets for the week ended with marginal gains and managed to cement it position above the key psychological barrier of 18500 with India VIX closing around 11% mark. With formation of rising three methods on daily candlestick, Nifty has been positioned for major gap up opening in today’s trading session with immediate target seen at 19285. The important trigger for positive momentum is likely to come from U.S President Biden signing Debt ceiling deal and averting a default. Rising three methods is a bullish continuation candlestick pattern that occurs in an uptrend and whose conclusion sees a resumption of that trend.
Nifty 50 Daily & Dow Jones Index
Stocks to watch
Positive Read through
- Ramco Systems- Inaugurates office in Qatar to support digital transformation initiatives across the region.
- BEML- India to soon proceed with financial bids for selling 26 pct in BEML.
- Zydus Life- US FDA issues nil observations to cos animal health drug manufacturing facility at SEZ, Ahmedabad.
- Greaves Ind- Promoter bought 1 lakh shares in the company.
- Mahindra Life spaces- OMRON Healthcare to start operations in Chennai in March 2025.
- Biocon- US FDA concluded inspection of Oral Solid Dosage formulations manufacturing facility at Bengaluru with no observations.
- Lupin launches Darunavir Tablets in the United States
- Wipro has fixed June 16, 2023 as the record date for determining the eligiblity for the buyback offer
- Hero Motocorp launched a new range of its 100cc motorcycle – the HF Deluxe
- Tata Chem- CRISIL has reaffirmed its credit rating of CRISIL A1+ issued by it for Company’s Commercial Paper
- PIIND acquired 100% shareholding of Therachem Research Medilab (India) Private Limited (Neutral)
- Minda Corp- Board approves raising upto Rs 600 cr via securities
- NTPC- IOC to source power from JV with the company
- Tata Chemicals has signed a MoU with the Government of Gujarat to set up a 20 GW capacity lithium-ion cell manufacturing giga factory
Negative Read Through
- Indoco Remedies- Facility had four observations in Form 483 and classified as OAI Official Action Indicated
- Speciality Restaurants- Promoter Anjan Chatterjee has offloaded 5 lakh shares, or a 1.06 percent stake
- Lyka Labs- Quant Mutual Fund-Quant Small Cap Fund sold 1.5 lakh shares in the pharma company
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