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When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.

Shares of Biocon have surged 44% in 2024 to date and 30% over the past two years, with the company currently holding a market capitalization of Rs 44,266 crore.

Nifty holds at 26,000 and approaches a key resistance zone of 26,200. A minor profit booking or sideways consolidation is expected. Shrey Jain of SAS Online suggests a buy-on-dips strategy for the index with a broader range of 26,500-26,000 for the coming week. An Iron Butterfly strategy is recommended for neutral positioning.

Nifty has gained about 4% in the month of September, and if we look at the medium-term chart, the index has gained 23% since the General Election results, all within just 4 months. That’s “too fast, too furious.” Nevertheless, this strength in the market might continue in the short to medium term.

The Indian market is expected to consolidate on Monday, influenced by global cues. The Nifty future saw slight gains on Friday. Analysts suggest a broader trading range and highlight key support and resistance levels. Several stock recommendations are provided for short-term traders, including Gravita India, Praj Industries, and Colgate Palmolive India.

Manba Finance shares debut on Monday with a grey market premium of Rs 38, reflecting strong growth in two-wheeler loans and significant profit increase in FY24.

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In the week ending September 27, the Indian benchmark index Sensex experienced a weekly gain of approximately 1.2%. 10 penny stocks saw their prices increase by 15% to 45% over the same period.