Ahead of Market: 10 things that will decide D-Street action on Thursday
A reasonably positive candle was formed on the daily chart on Wednesday with a long lower shadow. Technically, this pattern indicates a bullish Hammer-type pattern (not a classical one), but its placement is not ideal
Breakout Stocks: How NLC India, Ircon International and Dr Reddy’s Labs are looking on charts for Thursday
Stocks that were in focus include names like NLC India which rose more than 6%, Ircon International gained nearly 7% and Dr Reddy’s Laboratories closed with gains of over 3% to hit a fresh 52-week high on Wednesday.
TVS Supply Chain Solutions raises Rs 396 crore from anchor investors ahead of IPO
The company, in an exchange filing, said it had allotted 2.01 crore shares to 18 investors such as Franklin Templeton MF, SBI Life Insurance, Tata MF, Societe Generale, BNP Paribas, Copthall Mauritius Investments, Authum Investment, Aurigin Master, and Winro Commercial, among others.
Government should propose to GST Council to cut tax rates on fertilisers from current 5 per cent: Parliamentary panel
“The issue to further reduce GST on fertilisers was placed before the GST council in its 45th and 47th meetings held in September 2021 and June 2022, respectively. The GST council, however, did not recommend any change in the rates of fertilisers or other organic farm inputs. “The committee strongly recommend that the issue to […]
Tech View: Nifty forms Hammer-type pattern ahead of expiry. What traders should do on Thursday
Strong put writer additions were observed at 19,500, which is where maximum open interest on the put side is placed. The level of 19,500 will act as a strong support and the option activity at this strike will provide important cues about Nifty’s intraday direction, Samco Securities said.
Chart Check: After 15% rally in a month, Firstsource Solutions hits a fresh 52-week high in August 2023; time to buy?
The stock witnessed a breakout from a 12-month rectangle pattern in May 2023 on the weekly charts and since then it has been trading above the upper trendline resistance placed around Rs 120 levels.
Pyramid Technoplast IPO to open on August 18, price band set at Rs 151-166/share
Pyramid Technoplast aims to raise anywhere between Rs 139 crore – Rs 153 crore through the IPO and the post implied market cap is likely to be around Rs 611 crore.
2 top stock recommendations from Soni Patnaik
Until then Nifty remains sideways as long as it is trading above 19,300 because 19,300 is that key level where the correction took place and there was a follow-up subsequent pullback from those levels.
Positive Breakout: Gland Pharma & 6 other stocks cross above their 200 DMAs
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.
10 buy-rated largecap stocks within BofA Securities coverage
BofA Securities is OW on financials (cheap valuations, low risk of large earnings cuts), industrials (strong capex/real estate upcycle), select autos (passenger & commercial vehicles on volume growth as well as margin expansion) and healthcare (better pricing in the US, strong India/specialty business).