The Bengaluru-based fintech company that offers direct-to-customer digital investment platform, Groww IPO was subscribed up to 1.64 times at the end of the Day 2 of the offer period.
Groww IPO received bids for up to 59.82 crore equity shares as against 36.47 shares on offer for sale, amounting to ₹6,632 crore. Portion allotted for retail investors was subscribed up to 5 times. Groww IPO closes today and the stock is likely to be listed on the BSE and NSE next week.
Meanwhile, here's a technical outlook on some of the other prominent listed stock broking firms namely - Angel One, Motilal Oswal Financial Services, Nuvama Wealth Management, Anand Rathi Wealth and 5Paisa Capital:
Angel One
Current Price: ₹2,474
Likely Target: ₹2,170
Downside Risk: 12.3%
Support: ₹2,448; ₹2,350
Resistance: ₹2,490; ₹2,530; ₹2,626; ₹2,669
Angel One stock is seen consolidating around its long-term moving averages - the 100-Day Moving Average (100-DMA) and the 200-DMA on the daily chart for nearly a month now. The 100-DMA stands at ₹2,535, and the 200-DMA at ₹2,490. The stock at present is also seen near its 20-DMA, which stands at ₹2,459.
Further, the weekly chart suggests that the overall bias at the counter is likely to remain tepid as long as Angel One trades below the 100-Week Moving Average (100-WMA) at ₹2,6226 and the trend line hurdle at ₹2,669. On the downside, the stock can slip to ₹2,350; below which a dip towards ₹2,170 seems likely.
Motilal Oswal Financial Services
Current Price: ₹971
Likely Target: ₹850
Downside Risk: 12.5%
Support: ₹951; ₹928; ₹905
Resistance: ₹1,010; ₹1,055
The short-term trend for
Motilal Oswal is likely to be tepid as long as the stock sustains below ₹1,078; with interim resistance visible at ₹1,009 and ₹1,055 levels. On the downside, the stock can dip to ₹850. Intermediate support can be anticipated around ₹951, ₹930 and ₹905.
Nuvama Wealth
Current Price: ₹7,150
Likely Target: ₹8,100
Upside Potential: 13.3%
Support: ₹7,035; ₹6,870
Resistance: ₹7,500; ₹7,750; ₹7,900
Nuvama Wealth stock has been consolidating above its 100-DMA, which stands at ₹7,035, for almost a month. The short-term bias at the counter is likely to be positive as long as the stock quotes above ₹6,870. On the upside, the stock can potentially rally to ₹8,100; with interim resistance likely around ₹7,500, ₹7,750 and ₹7,900 levels.
Anand Rathi Wealth
Current Price: ₹3,116
Likely Target: ₹2,550
Downside Risk: 18.2%
Support: ₹3,040; ₹2,850; ₹2,760
Resistance: ₹3,270; ₹3,400
Anand Rathi share has witnessed a phenomenal 96 per cent rally in the preceding six months (May - October). The long-term chart shows that the overall trend is likely to remain upbeat as long as the stock holds above ₹3,040; below which it may enter a phase of consolidation.
As such, the stock may correct towards ₹2,550 levels, with interim support likely around ₹2,850 and ₹2,760 levels. On the upside, the stock is likely to face some resistance around ₹3,270 and ₹3,400 levels for now.
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Current Price: ₹304
Likely Target: ₹255
Downside Risk: 16.1%
Support: ₹304; ₹279
Resistance: ₹324; ₹342
5Paisa Capital stock has been trading with a negative bias for a year now, post the breakdown below the 200-DMA in November 2024. The near-term bias at the counter is likely to remain negative as long as the stock trades below ₹324; above which the 50-DMA at ₹342 is likely to act as a stiff resistance.
On the downside, the stock is seen testing the 61.8 per cent retracement of the first-half of the calendar year at ₹304. Break and sustained trade below the same can drag the stock towards ₹255 levels, with interim support likely around ₹279.
 "Trading strategy in Angel One, other stock brokers ahead of Groww IPO debut")
