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Tata Power Solar partners with Bank of India to provide easy and affordable financing to accelerate installation of Rooftop Solar and EV
Tata Power Solar partners with Bank of India to provide easy and affordable financing to accelerate installation of Rooftop Solar and EV
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Marubozu candle in daily timeframe signals strength in the reversal seen yesterday. Powered by optimism of August F&O expiry, the index could aim 24550-24600. However, the weekly candle formation still favors weakness. For the day, consider going long initially aiming 24550-24600 and take a cautious stance near the upper extremity. Fresh longs beyond 24600 would depend on the sustainability of the index. On the downside, immediate support for the day lies near 24,350 and a breach of which will open up 24200. We continue to maintain our stance that a move below 24,000 could lead to further downside risks, with the next support zone lying between 23,055 and 23,000.
Marubozu candle in daily timeframe signals strength in the reversal seen yesterday. Powered by optimism of August F&O expiry, the index could aim 24550-24600. However, the weekly candle formation still favors weakness. For the day, consider going long initially aiming 24550-24600 and take a cautious stance near the upper extremity. Fresh longs beyond 24600 would depend on the sustainability of the index. On the downside, immediate support for the day lies near 24,350 and a breach of which will open up 24200. We continue to maintain our stance that a move below 24,000 could lead to further downside risks, with the next support zone lying between 23,055 and 23,000.
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The unique feature of the ongoing bull market in India is its ability to climb all walls of worry. The market dismissed all concerns relating to elections, the Budget and the correction in the mother market US. The buy on dips strategy which has played out well in this rally continues to hold good. However, the valuation discrepancy - largecaps fairly valued and mid and small caps highly valued - continues. Long-term investors should exploit this discrepancy by buying quality largecaps on declines. FPIs have again turned sellers and this might put further pressure on largecaps even though the FPI selling is being matched by DII buying.The US Q2 GDP numbers coming better than expected at 2.8% further reinforces the soft landing hope for the US economy.
The unique feature of the ongoing bull market in India is its ability to climb all walls of worry. The market dismissed all concerns relating to elections, the Budget and the correction in the mother market US. The buy on dips strategy which has played out well in this rally continues to hold good. However, the valuation discrepancy - largecaps fairly valued and mid and small caps highly valued - continues. Long-term investors should exploit this discrepancy by buying quality largecaps on declines. FPIs have again turned sellers and this might put further pressure on largecaps even though the FPI selling is being matched by DII buying.The US Q2 GDP numbers coming better than expected at 2.8% further reinforces the soft landing hope for the US economy.
Posted by
Able
on
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- Other Apps