Market Outlook :
Nifty :
Nifty managed to hit new all-time levels, but failed to sustain at the top. The bears took over the index which led to a sell-off in the index. On a daily scale, the index has formed a strong bearish candle which resembles to bearish engulfing pattern. RSI is gradually moving in the south direction but continues to trade in the overbought zone. 20,800 will act as a significant support level if it fails to sustain above it then the index may move in the south direction. For Wednesday’s trading session, 20,850 will act as an initial support level, and on the higher end, 20,950 will act as an initial resistance.
Bank Nifty :
Nifty Top Losers
| Company | Current Price | Change | Loss | |
|---|---|---|---|---|
| Adani Ports | 1305 | ▼ | -44.25 | -3.28% |
| Coal India | 430.6 | ▼ | -12.7 | -2.86% |
| HDFC Life Insurance Company | 691.2 | ▼ | -19.65 | -2.76% |
| Divis Laboratories | 5743.4 | ▼ | -158.35 | -2.68% |
| AU Small Finance Bank | 609.45 | ▼ | -16 | -2.56% |
Nifty Top Gainers
| Company | Current Price | Change | Gain | |
|---|---|---|---|---|
| JSW Steel | 979.2 | ▲ | 24.3 | 2.54% |
| Tata Steel | 149.99 | ▲ | 3.04 | 2.07% |
| Bajaj Auto | 9676.3 | ▲ | 150.75 | 1.58% |
| Indusind Bank | 1080.25 | ▲ | 16.45 | 1.55% |
| Hindalco Industries | 683.6 | ▲ | 9.3 | 1.38% |
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Our Recommendations
| # | Stock Name | Recommendation Price | Current Price | Gain/Loss |
|---|---|---|---|---|
| 1 | ITC | INR 220 | INR 450 | more than 100 % |
| 2 | Reliance B | INR 1850 | INR 2650 | more than 45 % |
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