Market Morning Notes For 29th Nov 2023
Markets managed to post gains on Tuesday with Nifty rallying by 0.5 while gains in Sensex was restricted to less than 0.3%. The Sensex is approaching its intermediate peak of 66,592 and should act as a trigger for confirmation of trend. At present for trend reversal, Sensex needs to close above 66,592 to come out with formation of lower tops and lower bottom. The sudden rise in India VIX...
Market Morning Notes For 28th Nov 2023
Markets ended on a flat note on Friday on back of lack of global triggers. The outcome of the state elections in five states will be closely watched. Voting which began on November 07 will end of November 30 while counting of votes will be held on December 03. These elections are crucial before the 2024 Lok Sabha elections. As long as Nifty Bank trades convincingly below 50 DMA, the risk...
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Market Morning Notes For 24th Nov 2023
Markets ended on a flat note on Thursday on the back of a lack of global triggers with Nifty Bank rebounding to end in marginally positive terrain. As long as Nifty Bank trades convincingly below 50 DMA, the risk of selling spreading across other sectors is likely as financials hold 35% within the Nifty 50 Index. Also, the Next Notes Nifty 2X PR Leverage Index which is Nifty 50 in the...
Flair Writing Industries Ltd. (Subscribe)
Issue Size –: 19,506,578 sharesIssue Open/Close – 22 Nov / 24 Nov, 2023Price Band (Rs.) 288 – 304Issue Size (Rs.) – 5,930 mnFace Value (Rs) 5Lot Size (shares) 49 Flair Writing Industries Limited (FWIL) was incorporated in 2016 and is among the top 3 players in the writing instruments industry with Rs. 9,150 mn+ sales in FY23 and approx. 9 pct domestic market share and 7 pct export...
Fedbank Financial Services Ltd. (Avoid)
Highlights Issue Size –: 78,073,810 sharesIssue Open/Close – 22 Nov / 24 Nov, 2023Price Band (Rs.) 133 – 140Issue Size (Rs.) – 10,922 mnFace Value (Rs) 10Lot Size (shares) 107 Fedbank Financial Services Limited (Fedfina) incorporated on 1995 which is promoted by the Federal Bank Limited is a retail focused non-banking finance company (NBFC) that caters MSMEs and the emerging...
Market Morning Notes For 23rd Nov 2023
Markets on Wednesday witnessed divergent trend with Nifty Bank ending lower while recovery in the IT sector helped Nifty to surpass 19,800 levels. The Sensex has been struggling to cross its intermediate high and Nifty Bank has been consistently trading below 50 DMA which does not augur well for strength of markets. For Sensex, trend reversal is seen on close below 65,356 i.e. 1% below the...
Market Morning Notes For 22nd Nov 2023
Markets on Tuesday remained range bound with Sensex closing above 50 DMA on back of gains from commodities stocks while Bank Nifty remained underperformer and continued to remain lower below 44170 i.e. the 50 DMA. In the past few days, gains in Nifty has been on the back of rising India VIX index and with India VIX crossing above 12% mark which is 200 EMA, there is a risk of sudden surge of...
Gandhar Oil Refinery India Ltd. (Subscribe)
Highlights Issue Size –: 29,626,732 sharesIssue Open/Close – 22 Nov / 24 Nov, 2023Price Band (Rs.) 160 – 169Issue Size (Rs.) – 5,006 mnFace Value (Rs) 2Lot Size (shares) 88 Gandhar Oil Refinery India Ltd. (GORIL) is incorporated in 1997, is a widely known name in the world of Speciality Oils. Gandhar is a leading manufacturer of white oils by revenue, engaged in producing...