Indian Stock Market Closed Oct 2; BEL Stock Split; India-EU Trade Deal Progresses
A capital market company has announced a stock split, while the Indian stock market prepares for a holiday. Meanwhile, the India-EU trade deal progresses, and several IPOs make headlines.
The Indian stock market will be closed on October 2 due to Gandhi Jayanti and Dussehra. Traders should note that the market will remain shut on this day. Before the closure, the Nifty 50 showed a long bull candle on its daily chart on October 1, indicating a strong bullish sentiment. The index is expected to find support at 17,500 and resistance at 18,000 levels.
The Nifty 50's Open Interest (OI) data and 100 Day Exponential Moving Average (DEMA) were discussed in the article, providing insights into the index's momentum and potential future direction.
BEL, a capital market company, has formed a Flag and Pole pattern on its weekly chart, with a target price mentioned. This pattern suggests a potential breakout, which could lead to significant price movements in the stock.
In other news, the India-EU trade deal is progressing, with Union Commerce and Industry Minister Piyush Goyal providing an update on the negotiations. The deal is expected to boost bilateral trade and investment between India and the European Union.
The Glottis IPO's subscription status was discussed, with a share price prediction and allotment date provided. The IPO received a strong response from investors, indicating optimism about the company's prospects.
The Advance Agrolife IPO is also making headlines, with the issue being booked almost 2 times so far. The Grey Market Premium (GMP) for the IPO stands at Rs 12, reflecting strong demand for the issue.
Nifty predictions for October 3 were discussed, although the article did not specify which institutions made these predictions.
As the Indian stock market prepares for a holiday, investors should stay informed about the latest developments in the market. The Nifty 50's recent price action and the formation of a Flag and Pole pattern in BEL suggest potential opportunities for traders. Meanwhile, the progress of the India-EU trade deal and the strong response to recent IPOs indicate a positive outlook for the Indian economy. The article wishes its readers a happy Dussehra and extends best wishes for the occasion.
Read also:
- Strategizing the Integration of Digital Menus as a Core Element in Business Operations
- Financial Actions of BlockDAG Following Inter and Borussia Agreements: Anticipating Future Steps
- International powers, including France, Germany, and the UK, advocate for the reinstatement of sanctions against Iran.
- Election contenders in Quebec city council elections believe they hold promise for success
