Market Morning Notes For 22nd Dec 2023
Markets managed to rebound from support zone of 70,400 in Sensex and was followed with closing above 70,800 on the back of stability in global markets. The rise in Gold, Euro and Japanese Yen are currently trading at an inflection point and a further upmove in this asset class is likely to trigger major outflow from Indian markets. At present, recent high of 71,913 poses immediate hurdle for...
Innova Captab Limited (Subscribe)
Highlights Issue Size –: 12,723,785 sharesIssue Open/Close – 21 Dec / 26 Dec, 2023Price Band (Rs.) 426 – 448Issue Size (Rs.) – 5,700 mnFace Value (Rs) 10Lot Size (shares) 33 Innova Captab Limited (ICL) was incoprporated as Harun Health Care Private Limited in 2005 and later changed their name to Innova Captab Private Limited in 2010 in order to reflect innovations in the pharmaceutical...
Azad Engineering Ltd. (Subscribe)
Highlights Issue Size –: 14,122,137 sharesIssue Open/Close – 20 Dec / 22 Dec, 2023Price Band (Rs.) 499 – 524Issue Size (Rs.) – 7,400 mnFace Value (Rs) 2Lot Size (shares) 28 Azad Engineering Limited (AEL) incorporated in 1983, is one of the key manufacturers of qualified product lines supplying to global original equipment manufacturers (OEMs) in the energy, aerospace & defence and...
Market Morning Notes For 21st Dec 2023
Markets witnessed sharp decline on Wednesday with formation of bearish engulfing line pattern after Sensex opened higher and engulfed last three days of trading activity. The closing fell short below crucial support of 70,400 in Sensex which turns out to be upthrust line. A close below 70,400 would open gates for deeper downside with lower range seen 65,000-65,500. The rising India VIX above...
Market Morning Notes For 20th Dec 2023
Market activity remained range bound on Tuesday with Sensex ending with marginal gains after Reliance Industries led recovery in afternoon trading session to help Sensex close above 71,400. A small doji star was seen on daily candlestick marking signs of indecisiveness at higher levels but candle still remain inconclusive to set a larger reversal. The upper resistance of Sensex is seen in...
Happy Forgings Limited (Subscribe)
Highlights Issue Size –: 11,865,764 sharesIssue Open/Close – 19 Dec / 21 Dec, 2023Price Band (Rs.) 808 – 850Issue Size (Rs.) – 10,085 mnFace Value (Rs) 2Lot Size (shares) 17 Happy Forgings Limited (HFL) incorporated in 1979, is the 4th largest engineering led manufacturer of complex and safety critical, heavy forged and high precision machined components in India as of Fiscal 2023 in...
Credo Brands Marketing Ltd. (Subscribe)
Highlights Issue Size –: 19,634,960 sharesIssue Open/Close – 19 Dec / 21 Dec, 2023Price Band (Rs.) 266 – 280Issue Size (Rs.) – 5,497 mnFace Value (Rs) 2Lot Size (shares) 53 Credo Brands Marketing Limited (CBML) incorporated in 1999, engaged in the business of the retail sale of garments and accessories. They do not manufacture any apparels. They believe in providing a meaningful...
Weekly Market Outlook From 11th Dec to 15th Dec 2023
Nifty extends gains 21K mark; Global cues in focus Markets for the week extended gains for seventh straight week which forced Sensex to cross weekly resistance line of rising wedge placed at 70,400 on back of gains mainly from technology Index. Buying was witnessed across sectors after the US Federal Reserve kept its key interest rate unchanged and signaled rate cuts next year. Also,...
Market Morning Notes For 19th Dec 2023
Markets witnessed profit booking at higher levels but Sensex continues to trade firmly above its key reversal levels of 70,400 while India VIX shoots closer to the 14 mark. The rise in India VIX which has seen a sustainable upmove beyond 14 levels indicate that the market is prone to a sharp reversal. Compared to Sensex, Nifty Bank levels are trading closer to reversal. A close below 47,810...