TECHNICAL SERVICES
Nifty gains continue amid narrowing trading range and low volatility
The markets continued with their unabated upmove in the week that went by and ended once again with net gains. While continuing with the advance the Nifty 50 Index extended its move higher. However, as compared to the previous week, this time, the trading range got narrower as the Index oscillated 408.30 points against 824 points.
Markets on bullback, no pullback from 80,000 milestone
Sensex hit 80,000, led by TCS, Infosys, and banks like Kotak Mahindra. Nifty reached 24,302.15, driven by pre-budget CapEx expectations. Markets show bull indications, driven by private banks and tech. Confidence from policy consistency, expected social welfare spending, and strong investor sentiment; budget is likely in July.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
The Nifty's upward trajectory persists, with any potential dips or consolidation presenting buying opportunities, according to the prevailing bullish pattern.
TRADERS’ CORNER: Auto ancillary focussed on EV trying to jump 5% and mid cap software stocks for 7% rise
The markets had a trending start to the fresh week; after a muted start, the Nifty went on to close near its high point of the day. Following a flat start, the Nifty 50 index formed the low point of the day in the early minutes of the session. After that, the Index kept inching higher throughout the session. Although the markets did come off slightly from their high point, they were able to protect the bulk of their gains. The headline index closed with a net gain of 131.35 points (0.55%)
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty continues its upward trajectory, displaying positive chart patterns with higher tops and bottoms. According to Nagaraj Shetti of HDFC Securities, the market's bullish momentum could propel it towards the 24,400 mark in the near term, with immediate support at 23,980 levels.
Trader's Corner: Midcap scripts 8% rise as IT services stock aims at 7% gain
Momentum moving to many other sectors and stocks
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Technical study of Delhi airport's T1 likely to be completed in 1 month: Official
Efforts are ongoing to evaluate Terminal 1 operations post-canopy collapse, focusing on long-term policies to prevent future incidents and minimize business losses while enhancing safety measures.
Will Nifty give up 24,000 or make new highs this week? 7 factors to decide
Looking ahead, market focus will shift to upcoming releases including US and Indian manufacturing Purchasing Managers' Index (PMI) data, alongside a pivotal speech from the Federal Reserve Chair. Meanwhile, attention within India remains fixed on the progress of the monsoon season, with the India Meteorological Department confirming its onset in Delhi and other parts of North India.
RITES shares rally 4% on signing MoU with DMRC
Shares of Rail India Technical and Economic Service (RITES) surged by 4% to reach the day’s peak of Rs 708 in today’s session on the BSE. This increase followed the company's announcement of signing a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation (DMRC)
Fortifying the Forces: Agnipath scheme may see significant changes following Army survey
The Indian Army is set to implement major changes to the Agniveer scheme following feedback from an internal survey. These changes include extending the service tenure from four to eight years, increasing the retention rate of Agniveers to 60-70%, and raising the induction age for technical services to 23 years. The modifications aim to address concerns about inadequate expertise and improve the scheme’s effectiveness. The proposals will be reviewed by the Prime Minister's Office, with final decisions expected soon.
Dispute with Raymach Tech settled: SpiceJet to NCLT
SpiceJet Ltd settled a dispute with Raymach Technologies over ₹2.7 crore worth of unpaid dues at the National Company Law Tribunal.
These 3 stocks close crossing below VWAP on June 5
On June 5, the closing prices of these three stocks from Nifty500 dropped by more than 2% relative to the VWAP (Volume Weighted Average Price), and a shift below the VWAP suggests a potential bearish trend, according to stockedge.com's technical scan data. When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume. This can be seen as a potential indication of increased selling pressure.
Mumbai local train services delayed after technical glitch at Borivali station; Metro runs extra services
Local train services on Mumbai's Western Railway line faced disruptions on Monday due to a technical issue caused by a cable cut at Borivali station. Platforms 1 and 2 were affected, delaying trains by 15-20 minutes. Restoration efforts are underway to fix the problem and resume normal operations.
185% rally in 2 years! This multibagger PSU rail stock declares Rs 5 dividend
RITES declares Rs 5 per share dividend with Q4 results, continuing its growth trend with 185% increase in 2 years. Marginal decline in Q4 net profit, revenue down 6.3% YoY. Stock price falls 3.3% to Rs 709.
Pakistan reports third polio case amid concerns of widespread transmission
The latest victim, a 12-year-old girl from the Kili Malak Haqdad area of Darozai union council in Balochistan's Killa Abdullah district, succumbed to the relentless grip of polio.
Stock Radar: Multibagger returns in less than 1 year! This green NBFC player is poised for continued growth
IREDA has rallied by about 190% since its November 2023 listing. After reaching 215 in February, the momentum in the stock fizzled out. It continued to drift lower and found support above 120 levels in March. The stock is trading well above most of the crucial moving averages such as 5,10,30,50 and 100-DMA on the daily charts.
India's drug regulator cracks down on antibiotic misuse, seeks list of licensed combinations
India's drug regulator has directed state counterparts to provide a list of antibiotic combinations licensed for manufacturing and marketing within two weeks to combat misuse. This move follows recommendations from an expert sub-committee under the Drugs Technical Authority Board (DTAB) to regulate antibiotic use. The regulator seeks to ban inappropriate combinations and monitor unapproved antibiotics in the market. A sub-committee was formed to examine this issue, leading to the recent directive to state drug regulators and port officers.
F&O stock strategy: How to trade in Bharti Airtel and BEL?
Indian benchmark indices continued their winning streak on Friday, primarily driven by activity in the auto, consumer, and selected banking sectors.Sameet Chavan, Head of Research in Technical and Derivatives at Angel One, remarked on the day's proceedings, noting a surprising turnaround in the Indian equity market from its daily lows.
Stock Radar: Contra buy? This media stock is showing signs of bottoming out after 40% fall
Sun TV Ltd stock fell 40% from Jan 2018 highs but shows signs of bottoming. Short-term traders with high risk profile can buy for Rs 760 target in 2 months if momentum continues, as per experts. Stock hit a record high of Rs 1097 on 16th Jan 2024. Stock is down 10% from 52-week high recorded on 4th Jan 2024.
Compliance plays a big part in helping Indian MSMEs grow exports
While challenges persist, the compliance levels of Indian MSMEs in terms of export have been gradually improving, say experts.
F&O stock strategy: How to trade in Ashok Leyland and NALCO?
Nifty traded in the red on Wednesday breaking its two-session winning momentum in the morning trade led by selling pressure in bank and auto stocks. Around 12 pm today, the 50-stock index was trading at 22,186.25, down by 31.60 points or 0.14%.
EPC major and a healthcare service provider power up their stocks for 5% run
Nifty started negative but managed to get into the positive zone. It was pushed back but kept trying to maintain the advance. The index finally closed at the same level as the previous close.
Technical Breakout Stocks: How to trade Godrej Consumer Products, CG Power and Godrej Agrovet on Wednesday
Sectorally, buying was seen in FMCG, IT and technology stocks while selling was visible in public sector, utilities and realty stocks.
Stock Radar: CDSL consolidates after rallying over 100% in a year. Is there more steam left?
Short-term traders can look to buy the stock for a target of Rs 2,380 in the next 1-2 months, suggest experts. The price fluctuations seen in the CDSL stock price resulted in the formation of an Ascending Triangle on the daily charts. The resistance was seen around Rs 2,000-2,050 levels.
Technical Breakout Stocks: How to trade Godrej Properties, Rainbow Children and ABB India on Tuesday?
Indian markets closed mixed on Monday tracking the muted trend seen in other Asian markets. The S&P BSE Sensex rose while the Nifty50 closed 33 points lower.
IT services player and electrical equipment maker look set to rise about 6%
The markets opened positive but gave up the gains to end with a loss.
Smartphone companies dial up after-sales service network
"Established industry players are increasingly embracing apprenticeship initiatives aimed at cultivating a skilled workforce. These programmes offer courses such as service engineer IT hardware, repair technician, wireman control panel electronics, and electronics mechanic, targeting students who have completed 8th or 10th grade for entry into the field," he added.
Panel to finalise list of over-the-counter drugs for sale at general stores
A three-member committee of gynecologists has been formed to finalize a list of over-the-counter (OTC) drugs that will be available in regular stores without the need for a prescription. The committee, chaired by Directorate General of Health Services Atul Goel, aims to complete the list within two weeks. This move is part of India's new OTC policy for drugs, which seeks to reduce treatment costs and promote self-care while ensuring safety. The list will be based on factors such as safety, availability, and non-habit-forming nature of the drugs.
Technical Breakout Stocks: How to trade Motilal Oswal, Nippon Life and D-Mart on Monday
Stocks like Motilal Oswal, Nippon Life, and D-Mart showcased strong performance, aiming for specific resistance levels. Positive market closure with sectoral variations observed.
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