SGX Nifty Indicates a Record Opening; IDBI Bank and Punjab National Bank Open their QIPs


Market status: Confirmed Uptrend Distribution days: Three Nifty made a muted opening yesterday and slipped further in the initial hours of the trading session.
However, it staged a reversal from the... Market status: Confirmed Uptrend Distribution days: Three Nifty made a muted opening yesterday and slipped further in the initial hours of the trading session.
However, it staged a reversal from the day's low of 13,447 and recovered about 120 points to close flat for the day. Volume was lower than the previous session.
In the broader market, Midcap continued to outperform with a gain of 0.5%, while Smallcap posted a mediocre gain of 0.2%. Nifty is trading 3.2% and 8.8% above its 21- and 50-DMA, respectively.
Also, whenever any intraday dip occurred in the last few trading sessions, market participants immediately bought it, marking a positive sign, which indicates strength in the current uptrend. On the sectoral front, Nifty Media (+1.8%) continued to advance the most, followed by Nifty Metal and Fin Service, which gained 0.8% each for the day.
On the flip side, Nifty PSU Bank and FMCG declined in the range of 1.3–1.5%. Market breadth was skewed toward advancers.
Of 2,233 stocks traded, 1,204 stocks advanced, 697 declined, and the remaining stocks remained unchanged. With leadership broadening and indices above relevant intermediate term-moving averages, we will continue to look for leadership-quality growth names to form entry points.
After a strong rally, pullback/consolidation (if any) is a constructive sign if Nifty holds its 21-DMA. It is advised to closely review the existing positions and book partial profits in stocks that are extended from their moving averages.
On the flip side, tracking distribution days is crucial. An accumulation of distribution days can halt the uptrend.
Key News Punjab National Bank and Idbi Bank opened their QIPs on December 15 at a floor price of Rs 37.35/share and Rs 40.63/share, respectively. According to MFIN report, loans disbursed by NBFCs-MFIs declined 43% y/y to Rs 10,617 crore in the September quarter.
O’Neil Market Condition Report For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 92%; Rally Attempt, 0%; Uptrend Under Pressure, 8%; Downtrend, 0%. For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 67%; Rally Attempt, 0%; Uptrend Under Pressure, 33%; Downtrend, 0%.
Visit Marketsmith India to Read More About Indian Share Market News, Daily Market Tips, Model Portfolio etc. Source: Free Articles from ArticlesFactory.com Marketsmith India, One stop solution for all your Stock Market needs.
Get stock market ideas and stock predictions all at one place. A proprietary tool by William O'Neil India following the CANSLIM method of investing..

Top blog stories

A review of Idmobile.com

Idmobile.com offers both pay-as-you-go and contract plans. Pay-as-you-go plans are ideal for customers who don't want to be tied down to a long-term contract, and they can purchase bundles of data, minutes, and texts as and when they need them.

see post

A review of Idmobile.com

Idmobile.com offers both pay-as-you-go and contract plans. Pay-as-you-go plans are ideal for customers who don't want to be tied down to a long-term contract, and they can purchase bundles of data, minutes, and texts as and when they need them.

see post

AO.co: Online Shopping Made Simple

AO.co is a trusted expert in TVs, washing machines, clothes dryers and other household appliances. AO.com is one of the largest retailers in the UK and it specializes in electronics, clothes and home furniture.

see post

For our people.

At Three, we believe phones are good. They just make life better. Easier. And more fun. But we all need to find a balance that works for us. Our mission is to help our customers use their phones to live their best lives.

see post

We make your life easier

We make your life easier Since 1992, we’ve been helping customers get the best deal on their dream phone. We firmly believe in giving you the highest quality, for the lowest price. That’s why we work with three of the UK’s leading networks to do all the haggling for you,...

see post

FOUR BRANDS BECOME ONE. CURRYS.

Currys PLC is a leading omnichannel retailer of technology products and services, operating through 800+ stores and 16 websites in seven countries.

see post

Halfords - Quicker, Easier, and Convenient.

At Halfords, we're all about the journey. With more than 700 stores with over 10,000 colleagues, we're the UK's leading retailer of automotive and cycling products. We are also the leading operator in MOT, tyres, car servicing and car repairs - pleasing more than 750,000 customers every year.

see post

FOUR BRANDS BECOME ONE. CURRYS.

Currys PLC is a leading omnichannel retailer of technology products and services, operating through 800+ stores and 16 websites in seven countries.

see post

Sky - Epic. Endless. Entertainment.

It's important to us that everyone gets great customer service and can enjoy our products, no matter their level of sight. So, if you're blind, partially sighted or struggle to see or read the screen, we’ve a range of features to help you get the most from our products and...

see post

Nasty Gal - We exist for the “girl in progress”.

Look iconic, without the hassle— using Nasty Gal discount codes, you can shop your favorite pieces for way less by simply entering one of our promotional codes (of your choice) at the checkout. From delivery offers, to promo deals, we keep ‘em coming, so you always have the offer you...

see post

Digital Publishing From Past to Now

The Covid-19 has caused the school and universities to shut down around the world creating a major issue in Learning and Education. As this virus spreads through the interaction and if social distanci... The Covid-19 has caused the school and universities to shut down around the world creating a major...

see post

Why it’s Important to Manage Your Holiday Calendars?

A printable calendar 2021 is a prominent online platform where you download printable calendars of your choice. These calendars can be customized as per our client requirement with photo, text, logo, or any other image. If you are thinking of planning a dream vacation tour with family and kids but...

see post

Digital Publishing From Past to Now


The Covid-19 has caused the school and universities to shut down around the world creating a major issue in Learning and Education. As this virus spreads through the interaction and if social distanci... The Covid-19 has caused the school and universities to shut down around the world creating a major...

Why it’s Important to Manage Your Holiday Calendars?


A printable calendar 2021 is a prominent online platform where you download printable calendars of your choice. These calendars can be customized as per our client requirement with photo, text, logo, or any other image. If you are thinking of planning a dream vacation tour with family and kids but...

Cardboard Boxes the Ultimate Need of Every Business


The companies use these boxes for various purposes depending upon their type. The most commonly used varieties of boxes are cardboard boxes, corrugated boxes, and kraft boxes.  Cardstock Boxes The c... The companies use these boxes for various purposes depending upon their type. The most commonly used varieties of boxes...

Tacoma-A premium adventure platform for the family


Austin Haidinyak is an industrial designer in the outdoor and travel industries. Along with his wife, a 3-year old son, and a Shiba Inu named Maggie, he loves to get outdoors and travel as often as possible. Off-road and overland travel by vehicle not only allows Haidinyak to get out...

Why Your Company Should Have Custom Cosmetic Boxes for Cosmetic Products


Custom printed boxes instantly put your business brand in front of your buyer and put your business in their mind. Rather than packaging your items in a traditional shipping box, have your packaging box stand out and have a professional outlook by printing your logo, business name, tagline, website, or...

Top 7 Benefits of Maintaining a Healthy Lifestyle


We live in an era of sedentary lifestyle, unforeseen pandemics and prolonged lockdowns. A global pandemic like coronavirus has completely changed everyone’s perspective about health. It isn’t related to just taking care of yourself physically but mentally and emotionally as well. It is about maintaining a healthy lifestyle that takes...

The Step-by-Step Emergency Home Remedy for Asthma Attack


Asthma is a chronic respiratory disease which has affected millions of people across the globe. It can be triggered by the smallest amount of pollen in the air. An asthma attack can happen anywhere and at any time. If you have had an asthma attack, following these few steps can...

How to Protect your Shipment through Packaging Boxes


There is no doubt in the fact that the main purpose of all packaging boxes is to protect the product. When it comes to the product, then it can be of different types. These can have different weights, such as heavy, moderate weight, or light ones. Similarly, the shape and...

black magic specialist in singapore


Though the world is progressing rapidly, there are some thoughts and beliefs that still need to undergo changes. In India especially, marriages is mainly decided by the elders of the family and the boy and girl hardly have a say black magic spells and love back specialist black magic specialist...

Why are Siblings important children’s health


Here, you will learn many things about the effect and benefits of sibling relationships and how to deal with a toxic sibling.   In the 1990s, various mental health specialists motivated to study sibling relationships. Many of them have affirmed that sibling’s relationships have a big influence on our mental and...

Search topic

Why are Siblings important children’s health

Here, you will learn many things about the effect and benefits of sibling relationships and how to deal with a toxic sibling.   In the 1990s, various mental health specialists motivated to study sibling relationships. Many of them have affirmed that sibling’s relationships have a big influence on our mental and...

Learn more