Good morning IMP Updates:-
->Hero MotoCorp receives ₹17.64 crore GST notice from Delhi GST authority

->India’s retail inflation eases 3.54% in july.

->Growth in Indian industrial production slows to 4.2% in june 2024

->FPI’s turn net sellers, pull out Rs. 21201 crores from equity in Aug so far. FPI’s selling through stock market and buying throug IPO market.

Important event ahead
->21Aug FOMC minutes
->23Aug fed chairman speech

Hindenburg Report –
SEBI Chairperson Involvement in Adani Money Siphoning Scandal –
Summary –
• Whistleblower Documents Show That Madhabi Buch, The Current Chairperson Of SEBI, And Her Husband Had Stakes In Both Obscure Offshore Funds Used In The Adani Money Siphoning Scandal. The current SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani.
• Despite the existence of thousands of mainstream, reputable onshore Indian Mutual fund products, an industry she now is responsible for regulating, documents show SEBI Chairperson Madhabi Buch and her husband had stakes in a multi-layered offshore fund structure with miniscule assets, traversing known high-risk jurisdictions, overseen by a company with reported ties to the Wirecard scandal, in the same entity run by an Adani director and significantly used by Vinod Adani in the alleged Adani cash siphoning scandal.
• To Date, SEBI Has Taken No Action Against Other Suspect Adani Shareholders Operated By India Infoline: EM Resurgent Fund and Emerging India Focus Funds
SEBI chairperson involvement in promoting Blackstone’s REITS.
• During Dhaval Buch’s (SEBI Chairperson Husband) Time As Advisor To Blackstone, SEBI Has Proposed, Approved And Facilitated Major REIT Regulations Changes. Since Madhabi Buch became Chairperson in March 2022, SEBI has proposed and implemented a raft of REIT legislation, of significant benefit to Blackstone as one of the largest REIT sponsors in India, whom her husband works for.
• SEBI chairperson Herself Promoted REIT’s as her “Favourite products for the Future” and urged investors to look “Positively:” upon the asset class. While Making Those Statements, She Omitted To Mention That Blackstone, Who Her Husband Advises, Stands To Gain Significantly From The Asset Class.

Conclusion from the report above –
Hindenburg suggest that SEBI can not be trusted as an objective arbiter in Adani matter, as the SEBI chairperson has allegedly having stake in Adani group of companies.

Hindenburg says, To the extent that any proceeds are derived from this report they will be donated to causes that support free expression.

Objects of the Issue
• Expenditure by the company for (i) setting up new modern stores under the ‘BabyHug’ brand; and (ii) setting up a warehouse, in India
• Expenditure for lease payments for the existing identified modern stores owned and operated by the company, in India
• Investment in its Subsidiary, Digital Age for (i) setting up new modern stores under the FirstCry brand and other home brands of the company; and (ii) lease payments for the existing identified modern stores owned and controlled by Digital Age, in India
• Investment in the subsidiary, FirstCry Trading for overseas expansion by: (i) setting up new modern stores; and (ii) setting up warehouse(s), in KSA
• Investment in the subsidiary, Globalbees Brands towards the acquisition of an additional stake in the step-down Subsidiaries
• Sales and marketing initiatives
• Technology and data science costs including cloud and server hosting-related costs
• Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes

Stock has formed a weekly inside candle, and in daily time frame stock is consolidating for a few days, once the highs of this week is broken stock can be in focus for a bullish trade.
Fundamentals of this stock is average.

Stock has given a strong breakout in monthly charts, now it is retesting the previous high.In the weekly chart, stock has formed an inside candle, post breakout of the trendline. if it breaks previous week high. Fundamentals of this stock is also impressive.
Private Banks has been underperformer in this bull market, Now this sector can be in focus.

Good Morning everyone below are a few analyses given for learning purposes, do not take any trade based on these, Only do the observation. My only intention is to teach how we read price action, patterns & candlesticks. Best Stocks selection will not give you success along with that you need to focus on R:R and money management properly. Do your research before making any decision.