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Gold and silver futures ended with gains in the previous session. While gold was up 0.62%, silver futures gained 0.40%. On the Comex, Gold futures were trading at $1,956 per troy ounce, down $4.40 or 0.22% while Silver futures were trading at $24.455, down $0.040 or 0.160%.

The stock rose from Rs 1,244 recorded on 26th April 2023 to Rs 1,667 as on 26th July 2023 which translates into an upside of 34%. The stock also gave a breakout from a 6-week consolidation of a Flag pattern on the weekly charts which has opened room for the stock to head towards Rs 1,900 levels.

August-September should be fine for the stock market, but valuations have become extended in the short run, according to Sandip Sabharwal. Investors should prepare for some corrections in October and November, and he plans to increase some cash in portfolios in September. The overall industrial outlook is positive, and infrastructure projects have increased substantially, but Sabharwal sees short-term bouncebacks in the metals sector rather than sustainable growth.

That is also trading at decent valuations and that is something where I think the investor interest will soon come in.

​Do not jump in right away but there will be an appropriate time to look at the chemical sector also. So, both these sectors right now are being, you can say, not ignored but not the market favourites but in the next two to three quarters they can get interesting.

Despite penetrating the 19620 region which had so far thwarted several downside attempts, the swing higher towards close on Friday is very encouraging, having bounced off 20d SMA.

Promoters held 62.4 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 6.99 per cent and 0.89 per cent, respectively.

A total of 542 shares changed hands on the counter till 11:22AM (IST).

As part of the demerger plan, ITC has chosen to keep a 40% stake with itself and give the rest to existing shareholders. The share ratio would be finalised by the ITC board at its meeting on August 14. Investors are also expecting that the spin-off of the hotels business is the first step after which other non-cigarette businesses could also be demerged.

​This pattern is indicative of an upcoming change in the current bullish trend.(​