sensex today: Stock Market Highlights: Nifty forms long bull candle on F&O


Headline equity index Nifty on Thursday formed a healthy bullish candle on the daily chart, which indicates an attempt at a sharp upside breakout of the crucial resistance around 18,400 levels. The index has been making higher lows in the last three sessions. Today’s upside was partly led by the winding up of short positions on the monthly derivatives expiry day.

“Now, Nifty has to hold above 18350 zones for an up move towards 18600, then 18881 zones, whereas supports are placed at 18250 and 18188 zones,” said Chandan Taparia of Motilal Oswal.

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Biocon Biologics allots equity shares worth Rs 2,205.63 crore to its parent

Biotechnology major Biocon on Thursday said its subsidiary Biocon Biologics has allotted equity shares worth Rs 2,205.63 crore to it as part of an equity infusion to fund the latter’s acquisition of Viatris Inc’s biosimilars business. In February this year, Biocon Biologics Ltd (BBL) inked a pact to acquire Viatris Inc’s biosimilars business for consideration of up to USD 3.335 billion (about Rs 24,990 crore).

Adani open offer: Nearly 28 lakh NDTV shares tendered by Day 3

Nearly 28 lakh shares were tendered by shareholders of NDTV under the Adani group’s open offer at the end of the third day on Thursday. Adani group’s open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) started on Tuesday.According to the data from BSE, a total of 27,72,159 NDTV shares amounting to 16.54 per cent of the offer size were tendered by the shareholders by 1600hrs on Thursday.Adani’s offer price is Rs 294 per share, while NDTV shares settled at Rs 368.40 on Thursday, which is 25.3 per cent higher compared to the offer price.In the last three months, NDTV shares reached a high of Rs 540.85 on September 5, 2022.

Adani open offer: Nearly 28 lakh NDTV shares tendered by Day 3

Tech View: Nifty forms long bull candle on F&O expiry day. What traders should do on Friday

Headline equity index Nifty on Thursday formed a healthy bullish candle on the daily chart, which indicates an attempt at a sharp upside breakout of the crucial resistance around 18,400 levels. The index has been making higher lows in the last three sessions. Today’s upside was partly led by the winding up of short positions on the monthly derivatives expiry day.“Now, Nifty has to hold above 18350 zones for an up move towards 18600, then 18881 zones, whereas supports are placed at 18250 and 18188 zones,” said Chandan Taparia of Motilal Oswal.

Tech View: Nifty forms long bull candle on F&O expiry day. What traders should do on Friday

Nifty started higher and extended gains during the day. The daily momentum indicator RSI remains in a positive crossover. The trend looks positive as long as it sustains above 18350 Going forward, 18350 may provide immediate support. On the higher end, resistance is visible at 18650, above which Nifty may move up further.

– Rupak De, Senior Technical Analyst at LKP Securities

The BANK NIFTY bulls came back with full strength and knocked out the bears from the resistance zone of 42,600-42,800 on the last day of monthly expiry. It has witnessed a fresh breakout on the daily chart, pushing it higher towards the level of 44,000 in the near term. The lower-end support is now visible at 42,600 which will act as a cushion for the bulls. The broader participation will resume in markets helping it to scale on the higher end.

– Kunal Shah, Senior Technical Analyst at LKP Securities.

Investors wound up their short positions on the expiry day, triggered by US Fed minutes indicating a moderate pace of rate hikes going ahead that eventually propelled Sensex to new all-time high. Other positive catalysts such as the WTI crude oil prices staying sluggish and the falling US Dollar index and yields improved the risk appetite of investors leading to a broad-based buying. Technically, on daily charts the Nifty has now formed a long bullish candle and is also holding higher high and higher low formation on daily and intraday charts which is broadly positive. For traders, as long as the index holds the support of 18400, there are chances it could hit 18600-18700 levels. On the other hand, below 18400 the uptrend would be vulnerable.

– Shrikant chouhan, Head of Equity Research ( Retail), Kotak Securities

Led by broad-based buying, domestic indices witnessed solid gains as investors digested the latest FOMC meeting minutes, which hinted that the rate hike cycle may be slowing down. The optimism was further boosted by falling crude prices and the declining dollar index. Crude oil prices dropped over talks of a possible price cap on Russian oil and a rise in US product stockpiles.

– Vinod Nair, Head of Research at Geojit Financial Services

Closing Bell: Sensex surges 762 pts, ends at record high; Nifty reclaims 18,500, PB Fintech zooms 10%, HDFC Life 5%

Closing Bell: Sensex surges 762 pts, ends at record high; Nifty reclaims 18,500, PB Fintech zooms 10%, HDFC Life 5%

NIFTY RECLAIMS 18,500

NIFTY RECLAIMS 18,500

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