Latest Stock Market News

​For better prediction of future trends and prices of stocks, technical analysis tools are now widely used. Among them, one of the indicators or tools is the Average Directional Index (ADX). ​

​The Futures Long Position Scan performed on Tuesday revealed Aggressive New Long positions on Nifty 500 midcap counters.​

“I believe that from Q4 of the current year, the mix of orders that we are executing will become a little more biased towards better priced contracts. So to that extent, the last quarter of the current year and the next four quarters of the following year should indicate improvement in our margins.”

A study conducted by ET Markets identified 8 stocks from the BSE universe with a market capitalization of over Rs 1000 crore that saw a consistent increase in holdings by both FIIs and MFs for four consecutive quarters (September 2022 to June 2023).

Ahead of the IPO opening, the company raised nearly Rs 206 crore from 18 anchor investors. The issue has received a thumbs-up from analysts, with most recommending a "subscribe" given strong financials and growth potential in Northern India.

As of 30-Jun-2023, promoters held 63.62 per cent stake in the company, while FIIs held 26.71 per cent and domestic institutional investors had 2.37 per cent.

On the technical charts, the RSI of the stock stood at 68.63.

The stock also gave a breakout from an ascending triangle pattern on the weekly charts. The neckline of the ascending triangle pattern was placed above Rs 4,200 levels which happened in June 2023 and since then the stock has been trading above this level.

Kacholia’s 1.97% stake purchase in Venus Pipes comes on the back of a strong rally in the stock with multibagger returns of more than 240% in the last 12 months, which are almost 20 times higher than the returns given by S&P BSE Sensex during this period. In this year alone, the stock price has shot up 73%.

A total of 269,389 shares changed hands on the counter till 01:39PM (IST).