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A total of 65,522 shares changed hands on the counter till 02:14PM (IST).

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

We go overweight on sectors and companies which are on earnings and valuation upcycle and reduce or exit from sectors where valuations go ahead of earnings potential.

Nifty has been trading in an uptrend with formations of higher highs and higher lows. The index has also managed to sustain above its 21DEMA since April 2023. Nifty is trading in an ascending channel pattern and bouncing strongly whenever it approaches the channel support.

There are multiple reasons like strong corporate no’s, consistently higher GST numbers, strong Capex announcements by Corporates, all-time high Power Demand, lowering inflation in India, and stable interest rates.

“The implementation of a 30% tax and 1% TDS has prompted some users to explore platforms outside of India in an effort to potentially avoid these taxes,” says Sumit Gupta, co-founder and CEO of the crypto exchange.

According to me, the returns are much muted and not that great. Nifty 500 in this quarter is up by 10% but let us not forget it is at the same place where it was 2 years ago. It is a consolidation of 24 months, with Nifty 500 in the range of 16000 to 13000.

Indian markets are expected to consolidate on Monday following mixed global cues. Indian VIX decreased by 2.17% on Friday, and Call writing is seen at 19100, with Put writing at 18800. Options data suggests a broader trading range between 18550 to 19000 zones, and an immediate trading range between 18700 to 18900 zones. Technical Analysts are recommending short-term traders to buy Sun Pharma, Kotak Mahindra Bank, Indian Hotels, Bank of Baroda, BHEL, RIL, SBI, Grasim Industries, and RBL Bank.

Eight stocks, including Indiabulls Housing Finance Company, IEX, and ZEEL are under F&O ban for trade on June 19. The ban is reversed only if the open interest falls below 80%. Meanwhile, the Nifty50 made gains and is expected to reach record highs in the first half of this week, while the BFSI space is participating in the move. Technical experts recommend adding bullish bets in the market. The global market will play a vital role in the next leg of the rally.

From the Sensex pack, Bajaj Finserv, L&T, Titan, UltraTech Cement, UltraTech Cement, Power Grid and HDFC opened with gains, while HUL, NTPC, IndusInd Bank, Wipro, ICICI Bank and Reliance witnessed losses.