Markets Pause at Highs: Tons of IPO Ahead?

🌟 Wishing you a very Happy Akshaya Tritiya! While Markets Pause at Highs.
May this auspicious day bring you endless wealth, success, and—hopefully—better market returns too! 🙏💰

Now, coming back to Earth (and the stock market)…

Markets barely moved ahead of Akshaya Tritiya.
Nifty 50 hovered near a key resistance zone, closing with just a 0.03% gain. IT stocks led the pack, thanks to bargain hunting, while Pharma stocks took a breather after recent gains.
Bharat Electronics surged nearly 4%, leading the gainers, while Coal India slipped as commodity-linked stocks saw mild pressure.
Bank Nifty saw mild selling — another sign that traders are cautious near the top.

It was a classic market pause — prices touched important resistance levels but failed to deliver a breakout.
A doji-like candle on the charts signals hesitation among traders, raising the big question:
Is this a healthy pause before another rally—or are we standing on thin ice?

Today, we decode the meaning behind this market pause, bring you fresh IPO updates, top technical setups, and small-cap gems worth watching.

Nifty Pause – What’s Next

The Nifty 50 closed at 24,335.95 yesterday, barely moving as the index faced tough resistance near 24,359–24,370 levels. This zone has historically seen selling pressure, and once again, buyers struggled to break through convincingly.

📉 Resistance Levels to Watch

• Immediate Resistance: 24,359–24,370
• Major Resistance: 24,789 (previous swing high)

If Nifty manages to break and sustain above 24,370, we could see momentum building toward 24,600–24,789. But until that happens, upside looks capped.

📈 Support Levels to Watch

• First Support: 23,863 (recent breakout zone)
• Strong Support: 23,800
• Gap Zone: 23,200–23,000 (unfilled gap that could act like a magnet if selling pressure increases)

Failure to hold 23,863 could lead to a deeper correction toward the 23,200–23,000 range.

Chart Signals

Yesterday’s candle formed a doji-like structure, showing hesitation.
This signals a possible market pause — traders are waiting for a strong trigger before committing to either direction.

There’s also a risk of a double top formation near 24,789 if bulls fail to decisively break higher.

🧭 Trading Strategy for Today

• Long Trades: Only if Nifty sustains above 24,370 with strong volumes.
• Short Trades: If Nifty opens weak and breaks below 24,290, look for a dip towards 23,863.
• Critical Support Zone: 23,863–23,800. Watch this zone closely for any trend reversal signals.

Given the current market setup, staying cautious near resistance and trading with clear confirmations will be key.

IPO Update: Big Names Eye the Markets

🏠 Urban Company Files for ₹1,900 Crore IPO

Home services marketplace Urban Company has officially filed its draft red herring prospectus (DRHP) with SEBI to raise around ₹1,900 crore through an IPO.

• The offering includes a fresh issue worth ₹429 crore and an offer for sale (OFS) of ₹1,471 crore.
• Early investors like Accel India, Elevation Capital, Tiger Global, VY Capital, and Bessemer India are planning partial exits through this issue.
• Listing: Shares will be listed on NSE and BSE.
• Use of Funds: Technology upgrades, marketing, cloud infrastructure, lease payments, and general corporate purposes.

👉 Early backers such as Accel and Elevation are expected to lock in strong multi-bagger returns, highlighting the growing value of India’s tech-driven service businesses.

💳 InCred Financial Plans ₹4,000 Crore IPO

InCred Financial Services, a KKR-backed Indian lending firm, is preparing for a blockbuster IPO, aiming to raise nearly ₹4,000 crore (approximately $470 million).

• Discussions are ongoing with leading advisers including IIFL Securities, Kotak Mahindra Bank, and Nomura.
• The IPO is expected to be filed soon and could hit the markets by October 2025.
• Valuation Target: At least ₹15,000 crore.
• Business Focus: Retail lending, small business financing, and education loans.
• Strategic Angle: Despite global market volatility, InCred is betting on the resilience of Indian financial markets and its growing demand for private credit.

👉 InCred’s IPO signals increasing confidence in India’s NBFC (Non-Banking Financial Company) sector even amidst broader global fundraising challenges.

Canara HSBC Life Insurance Files for IPO

Canara HSBC Life Insurance has filed its DRHP with SEBI for a pure offer for sale (OFS) IPO, involving up to 23.75 crore shares.

• Key selling shareholders: Canara Bank, HSBC Insurance (Asia-Pacific), and Punjab National Bank.
• The company is among the top 5 bank-led insurers in terms of lives covered for FY24.
• Profit after tax has jumped massively — 232% CAGR from FY22 to FY24.
• Listing planned on both BSE and NSE.

👉 With strong growth metrics and large PSUs backing it, Canara HSBC’s IPO could draw major interest from institutional investors.

Stock in News: Impacted Stocks

1. Infibeam Gears Up for AI Comeback with Agentic Marketplace

Infibeam Avenues is launching a new AI platform where users can create, buy, sell, and operate smart AI programs (called “Agents”). These AI Agents will act like digital assistants that can work independently — moving beyond today’s basic AI tools.

• Platform Focus: Agentic AI Marketplace
• Goal: Build the next big AI tech for businesses and individuals
• Strategy: Part of Infibeam’s comeback plan in the tech space

Impacted Stock: Infibeam Avenues (NSE: INFIBEAM)

This move could reposition Infibeam as an innovation-driven tech stock if the platform succeeds.

2. Reliance FMCG Arm Surpasses Marico, Emerges Among Top 8

In just two years, Reliance Consumer Products Ltd (RCPL) posted revenues of ₹11,450 crore, overtaking Marico (₹10,379 crore) and Emami to become India’s 8th largest FMCG player by some metrics.

• Brands Launched/Revived: Campa Cola, Ravalgaon, Velvette, Independence Staples
• Distribution Reach: Over 1 million outlets as of March 2025
• Next Goal: Expand to 5-6 million outlets in three years
• Campa Cola’s Growth: Nearing ₹1,000 crore turnover
• General Trade: Contributes over 60% of RCPL’s sales

Impacted Stock: Reliance Industries (NSE: RELIANCE)

Strong FMCG expansion opens a new massive growth engine beyond oil, retail, and telecom.

Gold Prices Set to Shine on Akshaya Tritiya: Motilal Oswal

Simple Words:
Ahead of Akshaya Tritiya, Motilal Oswal recommends buying gold on dips. They see long-term targets of ₹1,06,000 per 10 grams, expecting gold prices to rise amid global uncertainty.

• Support Buy Zone: ₹90,000–₹91,000 per 10 grams
• Long-Term Target: ₹1,06,000 per 10 grams
• Reason: Global slowdown, high inflation, strong safe-haven demand for gold

Impacted Stock: Titan Company (NSE: TITAN)

Higher gold demand boosts Tanishq’s jewelry sales, benefiting Titan’s revenue growth.

Maharashtra’s New EV Policy to Supercharge the Sector

Simple Words:
Maharashtra is planning a new Electric Vehicle Policy to boost EV sales and manufacturing.
Expected highlights include subsidies for EV buyers, more charging stations, and possible toll-free travel for EVs.

• Focus Areas: Manufacturing support, consumer subsidies, charging infra expansion
• Toll Waivers: Likely for certain EV categories

Impacted Stocks: Tata Motors (NSE: TATAMOTORS), Exide Industries (NSE: EXIDEIND)

Tata Motors (leading EV player) and battery companies like Exide could gain significantly from stronger EV adoption.

Hyderabad Man Loses ₹2.8 Crore in Fake IPO Scam

Simple Words:
A Hyderabad employee was scammed of nearly ₹2.8 crore by a fake IPO investment app.
Scammers lured him via Facebook ads, fake WhatsApp groups, and a fake app named ASKMIN.

• Scam Tricks:
  • Initial fake profits of ₹4.9 lakh
  • Showing ₹32 crore fake balance
  • Asking for 15% fee to “unlock” profits, then blocking him

Warning:
Always apply for IPOs and investments only through trusted brokers and official apps.

NBCC Wins ₹131 Crore Township Contract in Meghalaya

Simple Words:
NBCC (India) Ltd bagged a ₹130.58 crore order from NEEPCO for building a township in Shillong, Meghalaya.

• Project Size: 21.66 acres development
• Client: North Eastern Electric Power Corporation (NEEPCO)
• Location: Umsawli, Mawdiangdiang, Shillong

Impacted Stock: NBCC (NSE: NBCC)

New government orders strengthen NBCC’s project pipeline and earnings visibility.

BEML Delivers India’s Largest Electric Rope Shovel to Coal India

Simple Words:
BEML handed over a 720-ton electric rope shovel (Model BRS21) to Coal India — the largest machine of its kind developed entirely in India.

• Bucket Size: 21 cubic meters
• Use: Large-scale mining for Northern Coalfields Limited (Coal India Subsidiary)
• Mission: Supports “Aatmanirbhar Bharat” in mining technology

Impacted Stocks: BEML (NSE: BEML), Coal India (NSE: COALINDIA)

Boosts BEML’s mining machinery leadership and enhances Coal India’s operational efficiency.

IPO Tracker: Ather Energy Struggles for Speed

Ather Energy IPO Subscription Status (As of Day 2)

Investor response to the Ather Energy IPO has been relatively subdued so far.
Here’s how the subscription stands after two days:

• Qualified Institutional Buyers (QIB): 0.00x subscribed
• Non-Institutional Investors (NII): 0.28x subscribed
  • Big NIIs (> ₹10 lakh bids): 0.30x
  • Small NIIs (< ₹10 lakh bids): 0.23x
• Retail Investors: 1.18x subscribed
• Employees: 3.17x subscribed
• Total Subscription: 0.30x overall

Retail participation has picked up moderately by the second day, while institutional interest remains missing. The IPO has yet to generate strong momentum across broader categories, making the last day critical.

Ather Energy IPO Grey Market Premium (GMP) Trend

Despite being a high-profile name in the EV space, Ather Energy’s GMP has remained muted.

Date	GMP	Estimated Listing Price
29-Apr-2025	₹1	₹322 (0.31% above issue price)
28-Apr-2025	₹1	₹322
27-Apr-2025	₹0	₹321
26-Apr-2025	₹3	₹324
25-Apr-2025	₹3	₹324
24-Apr-2025	₹5	₹326
23-Apr-2025	₹10	₹331

The GMP has sharply declined over the past week — from ₹10 to just ₹1 now — indicating weak listing enthusiasm unless institutional bids pick up strongly on the final day.

📢 Key Takeaway

While Ather Energy enjoys strong brand recognition in the EV market, current subscription numbers and GMP trends suggest cautious sentiment among investors. A strong last-minute rush from QIBs will be essential to change the narrative before closure.

Stock on Technical Radar: Premier Explosives

Premier Explosives Ltd delivered a strong breakout on April 29, 2025, marking a key shift in its price structure.

At a closing price of ₹467.30, the stock surged +6.57% with a wide bullish candle backed by significant volume, confirming buying strength.

Key Technical Highlights

• Golden Cross Formation:
  A bullish golden cross — where the 20 EMA crossed above the 50 EMA near ₹389–₹390 — has been triggered. This technical event often precedes a strong upside trend.
• Breakout Structure:
  The stock has cleanly broken out from a two-month rounded bottom formation, signaling the end of its long downtrend from August 2024 to March 2025.
• Volume Confirmation:
  The breakout is accompanied by a noticeable spike in volume, indicating genuine accumulation rather than speculative movement.
• Moving Average Positioning:
  Premier Explosives is now trading well above both its 20 EMA and 50 EMA, with both averages beginning to slope upward — further strengthening the bullish setup.

Critical Levels to Watch

• Strong Support: ₹390 (Golden Cross base + 50 EMA)
• Minor Support: ₹441–₹445 (recent breakout retest zone)
• Immediate Resistance: ₹478 (intraday high)
• Next Target Zone: ₹520–₹540 (based on previous consolidation range)

Trading Strategy & Outlook

• Positional Target: ₹520–₹540
• Ideal Buy Zone: ₹445–₹455 (buy on retracement)
• Stop-Loss (Swing Position): ₹390

Given the sharp up-move in the last few sessions, traders should ideally look to enter on pullbacks toward the ₹445–₹455 support area rather than chasing at current highs.

Summary:

Premier Explosives has confirmed a major trend reversal with a golden cross breakout, strong momentum, and healthy volume patterns. The stock remains firmly bullish in the short to medium term, favoring a buy-on-dips approach for a better risk-reward profile.

Small Cap Stock of the Day: DCX Systems

🔎 Business Overview

DCX Systems Ltd is a specialized defense and aerospace player engaged in system integration, cable & wire harness manufacturing, and PCB assembly for global giants like Lockheed Martin and ELTA Systems.
Over 99.9% of its revenue comes from exports, with a consolidated order book of ₹3,359 crore as of December 2024.

The company operates two modern facilities in Bengaluru and recently expanded internationally through a joint venture with ELTA Systems in Israel.

Key Strengths:

• Strong global defense partnerships
• High-margin integration services
• Growing presence in critical electronics manufacturing

Risk:

• High revenue concentration among top three customers.

Short-Term View: Setup & Strategy

Strategy:
✅ Buy near CMP ₹298–₹295
✅ Stop-Loss: ₹285
✅ Target 1: ₹330
(Risk-Reward ratio: 1:2)

A clean structure above ₹285 offers a favorable short-term trading setup for a 10%+ potential upside while keeping risks tightly managed.

Conclusion: Navigating the Market Pause

As we step into Akshaya Tritiya, the markets are showing classic signs of hesitation at higher levels.
While the overall trend remains constructive, the market pause near critical resistance zones reminds us that smart investing needs patience, discipline, and sharp stock selection.

Today’s analysis covered everything — from Nifty’s tight range battle, new IPO opportunities, sectoral movements, to technical breakouts like Premier Explosives and hidden gems like DCX Systems.

Opportunities are definitely brewing — but they now demand precision rather than blind enthusiasm.

👉 Whether it’s tracking fresh IPOs, finding small-cap gems, or catching early technical breakouts, having the right tools can make a big difference.
Angel One gives you a smart, reliable platform to analyze, invest, and grow your portfolio — across stocks, IPOs, and mutual funds — all in one place.

This Akshaya Tritiya, invest wisely. Grow consistently. Stay ahead.

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