"Despite unfavourable global news, the bulls have taken full control of the market. Notably, this buying surge came from Domestic Institutional Investors (DIIs), especially in the cash market, as Foreign Institutional Investors (FIIs) were net sellers."
Thus, projecting a target of 21,000 by December 2023 as it is price parity of the June-December 2022 rally (15,183-18,887) projected from March 2023 low of 16,828. "The seasonality pattern gels well with our price structure model and classical chart pattern projection of 20,700-21,000 in CY23. Meanwhile, strong support is placed at 18,700," the report said.
Mahindra & Mahindra surged by 2.52%. TVS Motor, Hero Moto Corp, and Tata Motors moved up by about 1% on Monday. The festive season, which starts in the second half of September, is expected to drive demand across segments within the auto industry, said analysts.
Mahindra & Mahindra surged by 2.52%. TVS Motor, Hero Moto Corp, and Tata Motors moved up by about 1% on Monday. The festive season, which starts in the second half of September, is expected to drive demand across segments within the auto industry, said analysts.
In a free-wheeling conversation with Moneycontrol, Arvind Kothari, the founder of Surat-based Niveshaay Investment Advisors, spoke about his learnings, strategies, and the highs and lows of his investing journey