S&P BSE Sensex added 497 points or 0.89% to close at 56,319 while NSE Nifty 50 index jumped 156 points or 0.94% to end at 16,770.
The maker of “Officer’s Choice” whiskey has initiated talks with advisers and is seeking a valuation of at least $2.5 billion, the people said, asking not to be identified as the information is private.
Key point to highlight is that, over past six sessions index has declined 1230 points that hauled daily and weekly stochastic oscillator in oversold territory .
Ahead of the IPO the company has managed to raise Rs 330 crore by allotting 1.52 crore equity shares at Rs 216 per equity share to 12 anchor investors.
Softbank-backed e-commerce platform Snapdeal filed for an IPO of 3.8 crore equity shares by existing shareholders of the company.
The resistance level for the Nifty is 17150-17200 and until that is not conquered, we are in an established downtrend.
It was only after fully achieving our target of 16500 did the oversold conditions come into play, yesterday.
“On technical front, the key support and resistance levels for Nifty50 are 16,350 and 16,900 respectively.
The underlying trend remains down as the index formed lower lows along with fall in index PCR OI, indicating trader sentiment is bearish and fresh call writing was seen at strike price 17000 with 9 lakh shares , Combined with a fall in the option price and IV, it indicates that call writing has happened at these strikes implying immediate resistance at these levels for the near term.
“16800-16850 should now act as a strong resistance for Nifty and any rise can be a good shorting opportunity 16950 as stop-loss.
“Markets have corrected by ~10% from their peak driven by consistent FIIs selling, tightening monetary policy by central banks globally and concern over economic recovery due to rising omicron cases.
“The market has been in a violent decline for short term and the overall chart pattern indicate more weakness ahead for the near term.
Markets have corrected by ~10% from their peak driven by consistent FIIs selling, tightening monetary policy by central banks globally and concern over economic recovery due to rising omicron cases.
Banks have recovered as much as Rs 13,109 crore from the sale of assets belonging to fugitive economic offenders Vijay Mallya, Nirav Modi and Mehul Choksi, finance minister Nirmala Sitharaman told Parliament on Monday.