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The stock quoted a 52-week high of Rs 1063.45 and a 52-week low of Rs 737.6.

IT services company Wipro, IT consulting firm TCS, and IT services provider Infosys are among the stocks on the Nifty50 that are nearing their 52-week lows, according to data from Trendlyne. Zee Entertainment Enterprises, a media and entertainment company, and engineering firm Voltas are also close to their lows. Despite concerns among some investors, this presents opportunities for others looking to invest in undervalued assets in the market. These companies have strong market presences and diversified portfolios, making them attractive investments for those seeking long-term growth potential.

Bitcoin, Ethereum and Binance Coin were traded with cuts, while XRP, Dogecoin and Shiba Inu traded with gains. Bitcoin fell 0.43% to $26,431 and its volume decreased by 1.91% to $9.3 billion in the last 24 hours. The global cryptocurrency market cap was trading around $1.07 trillion, falling 0.35% in the last 24 hours. Despite the rate hike pause by the US Fed, which failed to cheer the market, the market cap of Bitcoin remained at around $512 billion. Major market oscillators point toward a Neutral sentiment, according to experts.

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.