News for Polyplex Corporation Limited (POLYPLEX.NS)

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India's benchmark indices Sensex and Nifty50 hit new record highs, driven by gains in financial and IT stocks, and Reliance Industries' plans to accelerate AI adoption and issue bonus shares. Analysts expect Nifty to continue its upward momentum towards 25,250, with crucial support at 25,000.

Nifty on Tuesday ended flat to form an indecisive Doji candle on the daily charts. The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement.

Nifty on Monday fell 161 points to form a bearish Engulfing pattern on the daily charts to hint at short-term top reversal for the market. The short-term trend of Nifty seems to have turned down and the next lower levels to be watched are around 22,100-22,050 levels.

The blue-chip index NSE Nifty50 added 0.14% to 21,983, while the BSE Sensex gained 0.27% to 72,500. Both the benchmarks gained about 1% in February. In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level.

Indian equities closed negative. Nifty 50 at 22122.05 (-0.4%) and S&P BSE Sensex at 72790.13 (-0.5%). IT, metals, and pharmaceutical stocks faced selling pressure. US stocks edged higher; European equities edged lower. MACD showed bullish trade and bearish signs.

Indian shares logged their second straight week of gains, with the benchmark Nifty 50 index hitting record highs in all five sessions, buoyed by a rise in heavyweight financials. As the index closed above the crucial resistance level of 22,200, with the next resistance seen at 22,400. Short-term support is positioned at 21,900. As long as Nifty maintains levels above 21,900, the index may continue to be considered a buy on dips

Nifty on Thursday ended 162 points higher to form a long bull candle with a long lower shadow on the daily charts as the short-term trend of Nifty turned up sharply after a small decline.

Nifty on Wednesday ended 142 points weaker to form a bearish engulfing pattern on the daily chart, indicating a potential pause in the ongoing rally.

"We suggest maintaining a positive yet cautious stance as Nifty is set to retest its record high. Needless to say, we need sustainability above 22,150 to end the consolidation and march towards the 22,500+ zone else profit-taking may resume," said Ajit Mishra, Religare Broking.

Nifty is currently placed at the edge of breaking above the immediate hurdle of 21,850 levels and a decisive move above this resistance is likely to pull Nifty towards 22,000-22,100 levels in the short term. Immediate support is at 21720 levels, said Nagaraj Shetti of HDFC Securities.

The 30-pack Sensex was down 931 points or 1.30 per cent to settle at 70,506. The NSE benchmark moved 303 points or 1.41 per cent to close at 21,150.

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The 30-share BSE Sensex pack fell 52 points or 0.08 per cent to trade at 61,930, while the broader NSE Nifty moved 18 points or 0.10 per cent down to trade at 18,330. On the global front, Asian shares were last seen trading lower tracking an overnight fall in the US stock markets.

Visiongain has published a new report entitled the Flexible (Converted) Plastic Packaging 2022-2032. It includes profiles of Flexible (Converted) Plastic...

Visiongain has published a new report entitled the Flexible (Converted) Plastic Packaging 2022-2032. It includes profiles of Flexible (Converted) Plastic...

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Benchmark indices BSE Sensex and NSE Nifty 50 gave up early gains as the Reserve bank of India raised inflation projections for FY23 to 5.7 per cent from 4.5 per cent, while downgrading real GDP estimates to 7.2 per cent from 7.8 per cent earlier.