Market Morning Notes For 3rd Oct 2023
Markets for the month of September settled with gains of 1.3% after an initial attempt to surpass the 20,000 mark in Nifty and later ended with the reversal formation of an inverted hammer on a monthly candlestick chart. An appearance of an inverted hammer after a bearish engulfing line poses a serious threat to the markets as it displays the inability of bulls to sustain higher levels. Any...
Market Morning Notes For 27th Sept 2023
Markets activity turned laggard on Tuesday with cash market turnover declining to Rs 65,000 crores ahead of the uncertainty of the U.S. Government shutdown with Sensex sustaining below 50 DMA. The outlook for markets remains cautious after U.S. Indices traded below its major breakdown. For Nifty, crucial support is seen at 19,600 below which, we may see an immediate hit towards 18,800....
Market Morning Notes For 26th Sept 2023
Markets ended unchanged on Monday and formed a doji star on the candlestick thus indicating signs of indecisiveness as it moves closer to important trend line support. The low of Doji star is placed at 19601 and should act as an important trigger for the activation of the next round of selling and any move below 19600 should force Nifty to test 19200 in a quick span of time. Adding to it, a...
JSW Infrastructure IPO (Subscribe)
Highlights Issue Size –: 235,294,118 sharesIssue Open/Close – Sept 25 /Sept 27, 2023 Price Band (Rs.) 113 – 119Issue Size (Rs.) – 28,000 mnFace Value (Rs) 2Lot Size (shares) 126 JSW group arm JSW Infrastructure incorporated in 2006, is the fastest expanding port-related infrastructure company in terms of installed cargo handling capacity and cargo volumes handled from...
Market Morning Notes For 25th Sept 2023
Markets gave away almost 2 weeks of gains in the last week after Nifty declined over 2.5% led by Bank Nifty which saw a fall of more than 3.5% despite the US Fed maintaining key rates unchanged. The BSE Sensex posted a closing below 50-DMA on Friday which provides a leading signal of extension of selling in the days while technical triggers from US markets are more worrying after the S&P...
Market Morning Notes For 22nd Sept 2023
Markets witnessed heavy selling on Thursday led by Bank Nifty which saw breach of short-term support of 50 DMA after 1.6% decline and also followed with closing below the support line extended from low of 16 March 2023. The large-cap stocks have shown signs of wider cracks due to intense FII selling and we expect selling to aggravate further if the current week closing occurs below 19730. In...
Market Morning Notes For 21st Sept 2023
Markets remained under pressure on Wednesday after the occurrence of the breakaway gap in Nifty where it opened and sustained below key support of 20,032. The decline was mainly led by selling in Bank Nifty while broader markets remained resilient ahead of the Fed meeting outcome. The Fed kept rates unchanged but commentary turned hawkish signalling scope for another 25-bps rate hike in the...
Signature Global IPO (Avoid)
Highlights Issue Size –: 18,961,039 sharesIssue Open/Close – Sept 20 /Sept 22, 2023 Price Band (Rs.) 366 – 385Issue Size (Rs.) – 7,300 mnFace Value (Rs) 1Lot Size (shares) 38 Signature Global India Limited was incorporated in 2014 and with a market share of 19 pct, the company is the largest real estate development company in the National Capital Region of Delhi (Delhi NCR)...
Sai Silks Kalamandir IPO (Avoid)
Highlights Issue Size –: 54,099,027 sharesIssue Open/Close – Sept 20 /Sept 22, 2023 Price Band (Rs.) 210 – 222Issue Size (Rs.) – 12,010 mnFace Value (Rs) 2Lot Size (shares) 67 Sai Silk (Kalamandir) Ltd (SSKL) are among the top 10 retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit in Fiscal 2020, 2021 and 2022. The Company operates in 4...