Deepak Nitrate News Today

While the near term pain for chemical stocks is expected to continue due to a demand slowdown and pricing pressure in the sector, the long-term outlook looks bright amid expectations of a strong recovery and capex plans.

If IT stocks deliver, the Nifty can easily make new highs. On the down side, the major support for Nifty is around 21,800, says analysts

Shares of HDFC Bank closed at days high, forming a Bullish Engulfing pattern. Axis Bank ,Aarti Industries, and Pidilite industries are the other stocks that saw bullish engulfing pattern formation.

“The macro setups where we feel that there is a lot of headroom left are the ones to be reinitiated at these levels or added on to this correction. So, all is well, we need not worry. It is eventually a bit of a pullback, which was much needed. Even if it extends another 200-300 points from here, that would be a welcome dip.”

The arrangement spans 15 years from the initial delivery of propylene and hydrogen.

"We believe 2024 will beckon a shift in investment direction away from agrochemicals. Incumbents will explore new products and markets as the industry retools beyond crop solutions, including, but not limited to, opportunities within the clean energy ecosystem," said the brokerage.

"Private banks may take a backseat, may see a small bounce back here and there but PSU banks should actually do good from here. So that puts up around 60-65% of the Nifty in a rather sweet zone, which after this consolidation, especially since we have crossed the 20-day moving average on Friday, closed well above that. The chances of the Nifty heading towards the 20,400 mark in September seems very high. "

Fund managers hiked exposure in KIMS, Affle India, KEI Industries, Westlife Foodworld, Birlasoft, CIE Automotive India, MCX, Narayana Hrudayalaya, Cholamandalam Financial Holdings and Home First Finance, shows data pulled from the records of Finalyca by PMS Bazaar.

More than 858 multi-nationals visit the CU campus and the highest package sees a 30% growth

As of 9:50 am, the Nifty traded 121 points or 0.63 percent higher at 19,477.30, while the Bank Nifty also traded 150.25 points or 0.33 percent higher at 45,011.10.