Given the weak sentiment, the market may extend its downward journey in the upcoming sessions. Below are some trading ideas for the near term.
The Nifty 50 is poised to climb towards 24,800-24,900 in the coming sessions, provided it holds 24,500, with crucial support at 24,300. Here are some trading ideas for the near term.
Overall, the index has still been in the range with 19,750-19,800 likely to act as a crucial resistance as breaking of the same can drive the Nifty50 towards 20,000 mark, whereas 19,500 is expected to be immediate support and 19,200 may be crucial support for the index, experts said
Other power stocks including NTPC, NLC India, NHPC, and others were also trading higher by up to 4-5 percent.
The contract includes the supply and commissioning of all equipment involved in the Kavach system requiring RDSO approval. The delivery and commissioning is to be completed in 18 months.
Though, HBL Power Systems clarified early morning that the products being considered for slump sale have nothing to do with the “Kavach” Train Collision Avoidance System, or any other signaling product of HBL Power Systems.
Indian railways truly grasps the magnitude of India’s transformation, Prorinju said. In the current year alone, capital expenditure worth Rs 2.4 lakh crore has been allocated to the railways.
About 2,088 shares advanced, 1,459 shares declined, and 174 shares remained unchanged on June 5
These recent developments have sparked optimism among investors, as the government focuses on prioritising safety measures and the deployment of the Kavach system. The companies are well-positioned to benefit from potential government contracts.
The overall structure of HBL Power Systems looks lucrative as it trades above its all-important moving averages.
The 17,600 level is expected to be crucial for further direction of the Nifty50 going forward and, if the index manages to hold the 17,500-17,600 area, then 18,000 can be a possibility in coming sessions, experts said