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While there is no doubt that this was a great opportunity for investors, and it has delivered some surprising returns, we would recommend that investors should book profits and exit their positions. This is because after listing the stock is already trading at a significant premium to its issue price. Additionally, there are some business-related risks associated with the company, so it is better to lock in these gains now rather than take the risk of carrying them forward however, aggressive investors can still hold it with stop loss at 1170.
While there is no doubt that this was a great opportunity for investors, and it has delivered some surprising returns, we would recommend that investors should book profits and exit their positions. This is because after listing the stock is already trading at a significant premium to its issue price. Additionally, there are some business-related risks associated with the company, so it is better to lock in these gains now rather than take the risk of carrying them forward however, aggressive investors can still hold it with stop loss at 1170.
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The rupee traded weak, reaching lows of 82.24 and highs of 82.04 after a flat opening. The price gradually declined as market participants placed bullish bets on the dollar, anticipating a hawkish view from the Federal Reserve's meeting minutes scheduled to be released later in the evening. This expectation of a hawkish view on the dollar led to a decline in the rupee, with a decrease of 0.22 rupees. The strength of the dollar index and the recent rise in crude prices also contributed to the rupee's weakness. Looking ahead, the rupee's outlook remains range-bound between 81.75 and 82.45.
The rupee traded weak, reaching lows of 82.24 and highs of 82.04 after a flat opening. The price gradually declined as market participants placed bullish bets on the dollar, anticipating a hawkish view from the Federal Reserve's meeting minutes scheduled to be released later in the evening. This expectation of a hawkish view on the dollar led to a decline in the rupee, with a decrease of 0.22 rupees. The strength of the dollar index and the recent rise in crude prices also contributed to the rupee's weakness. Looking ahead, the rupee's outlook remains range-bound between 81.75 and 82.45.
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Global worries along with moderation in Service PMI data briefly impacted the domestic market’s rally. Heightened trade tensions between the US and China, coupled with uncertainties surrounding the upcoming release of FOMC minutes, tested the risk appetite of global investors. However, the market's last-minute broad based recovery serves as a reaffirmation of investors' confidence in the Indian economy.
Global worries along with moderation in Service PMI data briefly impacted the domestic market’s rally. Heightened trade tensions between the US and China, coupled with uncertainties surrounding the upcoming release of FOMC minutes, tested the risk appetite of global investors. However, the market's last-minute broad based recovery serves as a reaffirmation of investors' confidence in the Indian economy.
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