Download The App

The 12-15-20 investment formula can make you a millionaire!

What is the 12-15-20 formula of investment? How does the 12-15-20 formula work? Which investment will give strong returns? How much of your income must you save?

Investor Mukul Mahavir Agrawal held 1,08,000 shares or a 1.57% stake in the company as of June 30.

Indian equity benchmarks finally came out of their stretch of consolidation and clocked in record high levels on Tuesday.

The Nifty 50 surpassed the psychological 16,000-mark for the first time yesterday. The level translates into a return of 14% for the index so far in 2021. The index completed its 1000-point journey in about 6 months from 15,000 which it had clocked in on February 5.

The BSE S&P Sensex zoomed 937 points in the intra-day deals and hit a record high level of 53,888, led by Titan Company (up 4%), HDFC, IndusInd Bank, Sun Pharma, SBI, and Nestle India. It pared gains marginally and ended at 53,823 levels, up 873 points or 1.65%.

The Nifty50, meanwhile, hit new peak of 16,147. It ended with 246 points, or 1.5%, gains at 16,131 levels.

The broader indices — BSE MidCap and SmallCap — also hit their respective record high peaks of 23,443 and 27,232 levels in the intra-day deals. They, however, ended up to 0.2% higher each.
In fact, markets recorded their sharpest intra-day gains since May 21 on the back of positive earnings and hopes of economic recovery. Investors’ wealth increased by Rs 2.37 trillion.
Going forward, markets will be abuzz with activity in the primary space as four IPOs will be hitting street on August 4 and the RBI’s monetary policy committee will also begin its policy review.

Here’s how experts see markets trading on Wednesday

Shrikant Chouhan, EVP, Equity Technical Research, Kotak Securities Ltd

Nifty registered fresh highs and closed above the 16000-mark. The intraday rally was largely supported by HDFC Ltd, Titan, and IndusInd Bank, which gained over three per cent. Technically, on daily charts after a long time, the index has formed a strong breakout formation which is broadly positive for the market. The strong bullish candle on daily charts clearly suggests a further uptrend from current levels. For the breakout traders, 16050-16020 levels would be the sacrosanct level to watch out on Nifty. Above the same, the breakout formation could continue up to 16200-16250. On the flip side, below the 16020 level, a strong possibility of quick intraday correction up to 15950-15925 could be seen.

Manish Shah, Founder, www.Niftytriggers.com

Nifty punched out the consolidation phase in style. The range bound action seen in the index since last 8 odd weeks has finally resolved with a breakout on the upside. Nifty has broken out the shackles and it is time for a nice trending action to emerge.

Time and again we have been stating that the narrow ranged move in Nifty should resolve into a continuation pattern and we did see this. Expect Nifty to see a rally towards 16300-16350 before the end of the expiry. Support is now at 15700. As long as 15700 holds Nifty should have its tail up.

Published: August 4, 2021, 08:28 IST

Related News

Exit mobile version