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In Wednesday’s trading session, five stocks witnessed a build of fresh long positions. Let's first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not.

₹887.95 apiece on the BSE. Emkay Global Financial Services has initiated coverage on Tejas Networks with a ‘Buy’ recommendation and DCF-based target price of ₹1,050 per share, implying 14.3x P/E (Dec-24E).

Livemint, Kulkarni said he expects 2024 to turn out to be a little more challenging than 2023. However, he believes the public sector companies (PSU stocks) will continue to benefit while the IT sector is likely to see challenges in 2024 as it will experience the most slowdown. Edited excerpts: A.

Happy Forgings, which makes complex machinery components, debuted on stock exchanges on Wednesday at a lower-than-expected listing gain of 18% at Rs 1,000 apiece compared to its IPO issue price of Rs 850. Following the listing, the stock was trading just about 1% higher at Rs 1,010 on the BSE in the morning session when some buying action was seen on the counter. “Happy Forgings presents a mixed bag for investors. The lower-than-expected listing raises concerns, but the decent gain and strong fundamentals offer a counterpoint.

₹355.00 apiece on the BSE. In a regulatory filing, Kansai Nerolac Paints said that its board of directors has approved a proposal for monetization of idle land parcels of the company not being put for productive use.

₹1001.25 apiece on the BSE, a premium of 17.79% to the issue price of ₹850 per share. On NSE, Happy Forgings shares price began trading at ₹1,000 apiece, a premium of 17.64%. The initial public offering (IPO) of Happy Forgings was launched on December 19 and the bidding process ended on December 21.

BSE and NSE, with a tentative listing date fixed on December 29, 2023. The investors can check Innova Captab IPO allotment status on the websites of stock exchanges BSE and NSE and also on the portal of IPO registrar. Kfin Technologies Ltd is the Innova Captab IPO registrar.

Sensex gained 229.84 points, or 0.32%, to close at 71,336.80, while the Nifty 50 settled 91.95 points, or 0.43%, higher at 21,441.35. “We expect markets to be in a range with positive bias and end the year on a positive note. While there is lack of significant triggers and in the absence of any major events due holiday season.

Nifty 50 set to clock healthy double-digit gains in 2023; what are the key challenges for the market in 2024? Major central banks of the world, including the US Fed and the RBI, are expected to trim interest rates in the coming year. However, the timing and the extent of rate cuts will be the key factors. Furthermore, how central banks evaluate inflation and growth will significantly impact market sentiment.

Sensex gained 229.84 points to close at 71,336.80, while the Nifty 50 settled 91.95 points, or 0.43%, higher at 21,441.35. “The short-term trend nevertheless remains down. Momentum readings like the 14-day RSI too remain in decline mode (though they have bounced back recently) after declining sharply from overbought levels last Wednesday.

executives exited companies and are yet to take on new assignments, data shows. In fact, 2023 also saw founders of some struggling firms move on from their operating roles. Startups like Dunzo and Dealshare have seen their cofounders leave, while top executives like Byju's chief technology officer Anil Goel, chief business officer Prathyusha Agarwal, and Flipkart head of new business Adarsh Menon are among the top “free” executives, data from search firm Longhouse Consulting shows.

Happy Forgings will list on the exchanges on Wednesday. Ahead of the listing, the company's shares are commanding a premium of Rs 282 in the unlisted market. Considering the upper price band of Rs 405, the stock is likely to list with a premium of 70%. However, it is important to note that grey market premia are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly. The issue received a strong subscription of 82 times at close. Also Read: Mutual fund inflows swell 125% in 2023, AUM headed towards Rs 100 lakh crore in few years: ICRA The massive subscription of the IPO was driven by institutional investors.

Nifty Bank bounced back on Tuesday to close above its crucial resistance level of 47,500, tracking positive cues. The index closed with gains of over 200 points at 47,724. The Nifty50 index moved up more than 90 points to close above 21,400 level. The rally in the Nifty Bank index was led by gains in Kotak Bank, Bank of Baroda, HDFC Bank, Axis Bank, and SBI. Volatility index India VIX surged by ~7% to 14.65.

₹200 crore money laundering case, reportedly sent a message on WhatsApp to Bollywood actor Jacqueline Fernandez asking her to wear black clothes during a court hearing. According to a report, Sukesh used a "fake number" to send messages from jail to the actor.

Also Read: Sebi pitches instant equity settlements Analysts believe that the regulator’s plan may free up the margins and boost liquidity in the markets, but will impact the business models of stock brokers who rely on interest income from client funds. “The shift to instantaneous settlement is a substantial milestone, streamlining operations and cutting down on risk.

₹71 to ₹75 per share. Kaushalya Logistics IPO will open for subscription Friday, December 29, and will close on Wednesday, January 3.

Also Read: Happy Forgings IPO to list tomorrow: Here's what GMP, subscription status signal ahead of listing Let’s take a look at Supreme Power Equipment IPO subscription status, GMP today and other key details. Supreme Power IPO has been subscribed 129.19 times so far on December 26, the third and the last day of the bidding process. The public issue received bids for 56.56 crore shares as against 43.78 lakh shares on the offer, as per data till 2:30 pm.

Also Read: Innova Captab IPO closes today: GMP, review, subscription status, other key details, should you apply or not? Innova Captab IPO was subscribed to 1.41 times on day 1. Its retail portion was fully booked.

Coming to the buildup of fresh short positions, When the stock prices move downward and open interest on the counter increases, it is taken as a sign of a long build-up. The signal is considered more reliable if the volume on the counter has also seen an increase as the stock price was declining. Vodafone Idea stock price fell 2.56% and open interest saw an increase of 3.41%. PVR INOX stock price declined 2.25% and open interest saw a rise of 20.6%. Bajaj Finance saw stock pricing dipping up by 1.74% and the open interest saw an increase of 21%. Infosys Holdings stock price declined by 1.49% and open interest saw a rise of 17%. Muthoot Finance stock price fell 1.41% and open interest saw a rise of 38.11%. Some additional checks would help traders in taking better trading decisions as they increase the probability of a follow-up of the upward movement in the stock price. First, if this long build-up is accompanied by any bearish crossover, which means that whether in the current down move when the open interest has moved up the stock price has moved below its 20, 50 or 100-day moving average.

BSE and NSE. Also Read: Happy Forgings IPO: What does GMP, subscription status signal ahead of listing Let us check what Happy Forgings IPO GMP signals ahead of the share listing tomorrow. Happy Forgings IPO GMP today is ₹282 per share.

₹89. AIK Pipes IPO lot size consists of 1,600 shares.