SGX Nifty Indicates Opening Above 14,000; Union Bank to Raise Rs 6,800 Crore for Business Growth

---

Market status: Confirmed Uptrend Distribution days: Three Global stock markets: Dow30, +0.2%; S&P 500, +0.1%; Nasdaq, +0.2%; Nikkei, -0.5%; Kospi, +1.9%; Hang Seng, +0.4% Yesterday, Nifty gapped up...
Market status: Confirmed Uptrend Distribution days: Three Global stock markets: Dow30, +0.2%; S&P 500, +0.1%; Nasdaq, +0.2%; Nikkei, -0.5%; Kospi, +1.9%; Hang Seng, +0.4% Yesterday, Nifty gapped up about 50 points but remained volatile through the day and made a low of 13,865. However, the dips were bought by market participants, which helped Nifty close near the day's high.
Volume was lower than the previous session. In the broader market, midcap closed 0.2% higher, while smallcap showed outperformance as against the general market and closed 0.7% higher.
On the sectoral front, the mixed reaction was observed. Nifty Auto, Nifty Metal, and Nifty Realty gained 1.3% each.
On the flip side, Nifty Bank, PVT bank, PSU bank, and Nifty Pharma declined 0.1–0.2%. Market breadth was skewed toward advancers.
Of 2,224 stocks traded, 1,002 advanced, 859 declined, and the remaining were 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.
If a pullback/consolidation happens, it will be crucial for Nifty to hold its 21-DMA. It is advised to closely review the existing positions and book profits in stocks that are extended from their moving averages and showing technical weakness.
Also, tracking distribution days is crucial as rising in distribution days can halt the uptrend. Key News Adani Green Energy has commissioned a 100MW solar project at Khisara in Gujarat.
With this, the total operational renewable capacity grows to 2,950MW. Union Bank Of India received shareholders approval to raise Rs 6,800 crore to fund its business growth.
Electrotherm (India) defaulted on the payment of the term loan & working capital loan of Rs 0.62 crore on November 30. 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, 80%; Rally Attempt, 4%; Uptrend Under Pressure, 16%; Downtrend, 0%.
For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 70%; Rally Attempt, 0%; Uptrend Under Pressure, 30%; 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..