Market Morning Notes For 17th Nov 2023
Markets continued to face divergent trend on Thursday with Nifty 50 managing to post gains of around 0.5% while Bank Nifty ended in marginal negative terrain after failure to sustain above 50 DMA. As financial hold more than 35% weight in Nifty, a failure to sustain above 50 DMA in Bank Nifty poses major threat for broader market and this comes at a time when India VIX has also been rising...
Market Morning Notes For 16th Nov 2023
Markets opened with gap up 1 pct on Wednesday on back of positive cues from the U.S. markets to post closing above 65,637 in Sensex during last hour of trade on back of gains from Nifty IT Index. Bank Nifty witnessed higher opening above 50 DMA but closed well below it. With emergence of pennant formation around crucial resistance zone and Bank Nifty almost closing towards day’s lows, it is...
Market Morning Notes For 15th Nov 2023
Markets on Monday gave away its Mahurat trading session gains ahead of crucial inflation data in the U.S. after failing to cross the 50 DMA in Sensex. The inflation data came out yesterday which was lower than expectation and faded chances of further rate hikes in the near-term which propped the U.S. markets by more than 1%. For Indian markets, 50 DMA in Sensex which is placed at 65,637 turns...
Market Morning Notes For 13th Nov 2023
Markets on Mahurat trading session managed to breach crucial resistance of 19,500 in Nifty on back upbeat closing in the U.S markets on Friday. However, due to low activity on Sunday, prices carry less significance. In fact, after yesterday’s up move, prices have tested the falling resistance line extended from all-time high and may act as an important make or break levels in the near term....
Market Morning Notes For 10th Nov 2023
Markets on Thursday failed to carry momentum beyond 19,465 and was followed with selling in the last hour of trade to close below 19,400 in Nifty. The BSE Sensex has reacted from resistance of head & shoulder neckline and has potential to activate large scale selling if today’s closing manages to occur below 19,250. Meanwhile, Dow Jones Index has formed bearish engulfing pattern in...
Market Morning Notes For 9th Nov 2023
Markets activity on Wednesday turned subdued with Sensex oscillating in mere 200 points to finally end on a flat note while midcaps and small cap counters put up a strong show. Markets have reached crucial juncture with Sensex re-testing the neckline of head & shoulder top placed at 65,200 and we expect the next leg of decline to occur from the similar zone. From trend reversal point of...
Market Morning Notes For 8th Nov 2023
Markets on Tuesday recovered from day’s low and ended unchanged with back-to-back hanging man pattern in Sensex as markets enter into crucial resistance of a triangle pattern. The hanging man pattern often signifies trend reversal and can expect 50 EMA in Sensex which is placed at 65245 to act important hurdle on closing basis in near term. Meanwhile sharp decline in brent crude prices has...
ASK Automotive Limited (Subscribe)
Highlights Issue Size –: 29,571,390 sharesIssue Open/Close – Nov 07 /Nov 09, 2023Price Band (Rs.) 268 – 282Issue Size (Rs.) – 8,340 mnFace Value (Rs) 2Lot Size (shares) 53 ASK Automotive Limited (ASKAL) was incorporated in 1988, which supply safety systems and critical engineering solutions. The company offerings are powertrain agnostic, catering to electric vehicle (EV) as well as...
Protean eGov Technologies Ltd. (Subscribe)
Highlights Issue Size –: 6,191,000 sharesIssue Open/Close – Nov 6 /Nov 08, 2023Price Band (Rs.) 752 – 792Issue Size (Rs.) – 4,903 mnFace Value (Rs) 10Lot Size (shares) 18 Protean eGov Technologies Limited (PEGTL) was incorporated in 1995, formerly known as NSDL e-Governance Infrastructure Limited. The company originally setup as a depository in 1995 and created a systemically...