GAGA Share Market News

[hfe_template id='11223'] [ad_1] The Indian market is expected to consolidate on Thursday, tracking subdued global cues. India VIX dropped over 5% on Wednesday to close at 17.18. The Nifty50’s inability to sustain higher levels signals the presence of strong sellers at elevated zones. “The 24,500–24,400 pocket, which also houses the short-term 10-day EMA, has now turned into a make-or-break patch. Until Nifty holds above this belt, the broader picture remains intact,” said Dhupesh Dhameja, Derivatives Research Analyst at SAMCO Securities. “However, the psychological wall at 25,000 still looms large and continues to block upside attempts,” he added. A breakout on either side of this narrow range could steer the next directional move. “As long as Nifty floats above 24,400, the primary structure stays intact. Dips continue to attract buying interest, making them rewarding opportunities. Immediate resistance is now capped around the 24,800–25,000 corridor,” Dhameja noted. Li...

[hfe_template id='11223'] [ad_1] The Indian market is likely to consolidate on Friday, tracking muted global cues. The Nifty futures closed positively with gains of 0.31%, reaching 23,595 levels on Thursday. India VIX fell 1.2%, closing at 13.30 in the previous session. On the options front, the maximum Call Open Interest (OI) is placed at 24,500, followed by 24,000 strikes, while the maximum Put OI is placed at 23,500, followed by 23,000 strikes. Call writing is seen at 23,600, followed by 24,000 strikes, while Put writing is seen at 23,600, followed by 23,300 strikes. “Options data suggests a broader trading range between 23,000 to 24,000 zones, with an immediate range between 23,400 to 23,800 levels,” said Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited. Live Events “Nifty formed a bullish candle on the daily chart and closed with gains of around 100 points, but it has started making lower highs and lower lows over the last two session...

[hfe_template id='11223'] [ad_1] After witnessing a rally in Tuesday’s session, the shares of Oil and Natural Gas Corporation (ONGC) today continued their rally, surging 2.6% to their day’s high of Rs 270.50 on the BSE after the global brokerage firm CLSA upgraded its rating to ‘High Conviction Overweight-PF’. The brokerage firm had also set a target price of Rs 360 for the stock. CLSA cited several key factors driving this bullish outlook. The brokerage anticipates multiple volume and realization triggers for ONGC in 2025. A significant contributor to increased production is expected to be the ramp-up of ONGC's eastern offshore field to peak production. This ramp-up is projected to significantly boost the company's domestic oil and gas output. Furthermore, CLSA highlighted the potential removal of the windfall tax as a key positive catalyst. The removal of this tax could allow ONGC to achieve realizations higher than $75 per barrel if crude oil prices recover. T...

[hfe_template id='11223'] [ad_1] The shares of ONGC rallied 8% on Wednesday to its day’s high of Rs 329.50 despite the company reporting a 15% year-on-year (YoY) fall in its Q1 net profit at Rs 8,938 crore, which was below the ETNOW poll of Rs 9,539 crore. Revenue from operations in the same period increased 4% YoY to Rs 35,266 crore as against Rs 33,814 crore in the corresponding period of last year. During the reporting period, the total crude oil production fell marginally to 5.23 mmt, while the same from joint ventures stood at 0.35 mmt. The total gas production during the quarter also fell by 4% to 4.86 BCM in the first quarter under review. Here is how brokerages viewed the Q1 results of the company: Jefferies: Buy| Target price: Rs 410 Jefferies has maintained a buy rating on ONGC and hiked the target price to Rs 410 from Rs 390.The management reiterated its guidance of ramping up KG basin production from Q3 and achieving its peak potential by end-FY25.Final notif...

[hfe_template id='11223'] [ad_1] Indian market likely to consolidate on Friday tracking muted global cues. The Nifty future closed positive with gains of 0.10% at 24375 levels on Thursday. India VIX was down by 2.90% from 13.20 to 12.82 levels. On the options front, the maximum Call OI is placed at 24500 and then towards 24400 strikes while maximum Put OI is placed at 24000 and then towards 24200 strikes. Call writing is seen at 24500 and then towards 24400 strikes while Put writing is seen at 24000 and then towards 24200 strikes. “Options data suggests a broader trading range in between 24000 to 24500 zones while an immediate range between 24200 to 24400 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.“Nifty formed a small bodies Bearish candle on the daily frame but has been making higher lows from the last eight sessions,” he said.“Now the index has to hold above 24250 zones to extend the move towards 24400 and 24500 zone...