Market Morning Notes For 7th Feb 2024
Markets ended with gains after recouping Monday’s losses and formed inside bar setup on candlesticks. The inside bar with bullish candle indicates volatility to expand with positive bias in market and Sensex could be placed to test 75,600 in the coming days. Adding to it, bullish crossover can be witnessed in MACD which may act as a trigger for fueling momentum in the short term. The previous...
Market Morning Notes For 6th Feb 2024
Markets cooled from highs to close with losses of 0.4% after news emerged about a slump in Chinese markets while the Pharma Index managed to end with gains of around 2%. From a trading perspective, Sensex remains with a positive bias as long it holds firmly above 70,665 with an immediate target seen at 75,600. With the recent depreciation in the Japanese Yen and Brent Crude trading...
Apeejay Surrendra Park Hotels (May Apply)
Highlights Issue Size –: 59,548,387 sharesIssue Open/Close – 05 Feb / 07 Feb, 2024Price Band (Rs.) 147 – 155Issue Size (Rs.) – 9,200 mnFace Value (Rs) 1Lot Size (shares) 96 Apeejay Surrendra Park Hotels Limited (ASPHL) incorporated in 1987, operates hospitality assets under its own brands, THE PARK, THE PARK Collection, Zone by The Park, Zone Connect by The Park, and...
Market Morning Notes For 5th Feb 2024
Markets for the week posted gains of around 2% despite weakness in Nifty Bank while large caps like Reliance, TCS, and Infosys significantly contributed to the Sensex upmove. The India VIX cooled from a high of 16 levels post-budget. From Sensex’s perspective, the breakout levels have been corroborated well after Sensex rebounded from the support line. In the next few days, we expect...
Market Morning Notes For 2nd Feb 2024
Market activity remained muted throughout the trading session yesterday as the Interim Budget was devoid of any major changes with Sensex finally ending in slightly negative terrain. The India VIX dropped sharply by 10% opening gates for further put writing after the event was over. The overall outlook for the market remains positive with 70,665 seen as major support and Sensex is expected to...
Union Budget 2024: Tax Benefits Extended, Slabs Unchanged, Capex Boosted – Exploring Key Announcements
Finance Minister Smt Nirmala Sitharaman introduced the Interim Budget 2024-25 in Parliament on Thursday, February 1, coinciding with the commencement of the Budget Session. This budget holds significance as it is an interim one, being presented just before the Lok Sabha Elections. The budgetary allocations and policy directions reflect a strategic approach toward fostering growth, social...
Market Morning Notes For 1st Feb 2024
Markets regained control above the breakout line after Sensex posted closing above 71500 and could be poised to rally further towards 74000 in the coming days. The RSI reading moving back above the 50 mark and followed with RSI generating positive reversal on a daily basis may provide a booster dose for accelerating momentum in the coming days. Yesterday’s up move although led by...
Budget 2024 Date, Time and Expectations
Recent successes in state elections, setting a positive backdrop, have now focused attention on India’s upcoming Interim Budget for 2024. Rather than grand populist gestures, there’s an expectation of a shift towards policy continuity and sustainable growth. This blog explores the diverse expectations from Budget 2024, delving into key areas poised to shape the economic...
BLS E-Services Limited (Subscribe)
Highlights Issue Size –: 23,030,000 sharesIssue Open/Close – 30 Jan / 01 Feb, 2024Price Band (Rs.) 129 – 135Issue Size (Rs.) – 3,109 mnFace Value (Rs) 10Lot Size (shares) 108 BLS E-Services Limited (BLSESL) incorporated in 2016, is a subsidiary of BLS International Services Limited and is a technology-enabled digital service provider, providing (i) Business Correspondents...