6th Sept. Opening Bell.

Market opened negatively due to sluggish global cues.

The Nifty50 reversed losses from the previous session and closed above its crucial resistance level of 9,950 on Tuesday. It made a Hammer kind of a candle on the daily charts and a pattern which resembles that of Bullish Harami.

Bullish Harami is a bullish reversal pattern and is made up of two candlesticks. It is characterized by a large black candle, followed by a small white candle. The white candle is contained completely within the previous black candle.

However, confirmation is still required for a trend reversal. At best, it does look like it might be a short covering move and any escalation on the geopolitical front could put further pressure on markets. A move below 9,861 could confirm end of a pullback rally.

🎯 News & Impact 🎯

🎯 IPO
Dixon Technologies :
Issue opens today, closes on September 8.
Price band Rs 1,760 - 1,766.

Bharat Road Network :
Issue opens today, closes on September 8
Price band Rs 195 - 205.

🎯 IGL, IOC, HPCL : 
Indraprastha Gas, Indian Oil-Adani Gas combine and Hindustan Petroleum-Oil India joint venture are set to win licences to distribute gas in one city each in the latest round of auction.
Positive for the stocks.

🎯 Bharat Financial :
Foreign shareholding through FIIs/FPIs in Bharat Financial Inclusion has reached the trigger limit.
Positive for the stock.

🎯 Just Dial :
HDFC MF buys 32.07 lakh shares, or 4.6 % stake in Just Dial at Rs.375 per share.
Positive for the stock.

🎯 Indigo :
Indigo may buy stake in Jet Airways if Air India bid fails.
Positive for the stock.

🎯 HDFC :
HDFC to raise Rs 2,000 crore via bonds today.

🎯 Merck India :
Merck India in focus as parent company Merck KgaA is considering selling its global consumer health business, including that of its publicly traded Indian unit Merck.

🎯 Dabur :
Zappfresh in talks with Dabur's Amit Burman, others to raise USD 5 million.

🎯 GDR manipulation :
Sebi bars 19 companies from securities markets, including K Sera Sera, Asahi Infrastructure, IKF Technologies, Maars Software, Avon Corporation.

🎯 HCL Technology :
HCL Technologies to acquire data automation platform Dataware.

🎯 ICICI Lombard :
SEBI gives go-ahead to ICICI Lombard General Insurance Company IPO.

Edited by Sharp.
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