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Goldman Sachs sold nearly 6.5 lakh shares in smallcap stock ideaForge Technology for Rs 43 crore while Citigroup bought 6.65 lakh shares in the company at a cost of Rs 44 crore via block deals on Thursday.While Goldman Sachs sold shares through Goldman Sachs Funds - Goldman Sachs India Equity Portfolio at a price of Rs 657.67 per share, the latter purchased Ideaforge shares at Rs 656 apiece via Citigroup Global Markets Mauritius Private Limited.Shares of ideaForge ended down by 1% at Rs 678 on the NSE. On Wednesday they had ended at Rs 684.20.ideaForge is a vertically integrated company with an in-house product development centre. It designs, develops, engineers and manufactures indigenous unmanned aerial vehicles (UAVs). Its products are used by defense forces and law enforcement agencies to conduct surveillance operations.The stock has been a laggard witnessing a decline of 13% in its share price over the last one year. This year, its fall has been more pronounced at 19%. The stock is currently trading below its 50-day and 200-day simple moving averages of Rs 703 and Rs 734, respectively. The continuous correction has dragged this counter in an oversold zone. According to Trendlyne, its MFI has fallen to 27. A number below 30 is considered as oversold while above 70 is seen as overbought. Company's consolidated revenue in the June ended quarter stood at Rs 92.2 crore which was down from Rs 100.6 crore in the year ago period. The consolidated net profit in the said period was reported at Rs 1.2 crore which fell from Rs 18.9 crore reported by the company in Q1FY24.Also Read: Anand Rathi Q2 Results: Cons PAT jumps 32% YoY to Rs 76 crore. Rs 7/share interim dividend declared(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The Nifty formed an inside day pattern on its daily chart, which is formed when the price trades within the high and low range of the previous day. Hence one needs to wait and watch, till the high (25,134) or low (24,979) of today’s daily candle is taken out for further direction on Nifty.At the current juncture, the bears are in full control of the markets and are using every pullback rally to create short positions. Support for Nifty is now seen at 24,950-25,000 and 24,750. On the higher side, immediate resistance is at 25,100 levels and the next resistance zone is at 25,250-275 levels, Tejas Shah of JM Financial & BlinkX.In the open interest (OI) data, the highest OI on the call side was observed at 25,000 and 25,050 strike prices, while on the put side, the highest OI was at 25,000 strike price followed by 24,950.What should traders do? Here’s what analysts said:Rupak De, LKP SecuritiesThe index remained largely sideways throughout the day as the 25,000 level was mostly held. On the daily chart, the index has been failing to reclaim 50EMA for the last two days, indicating prevailing weakness. On the lower end, support is placed at 24,950–24,900. A fall below 24,900 could trigger a correction toward 24,750–24,700. On the other hand, resistance is seen at 25,150, and a move above this level could push the index towards 25,350–25,400 in the short termJatin Gedia, SharekhanOn the daily charts, we can observe that the Nifty is in the process of retracing the 1500 fall. We believe that the retracement is not complete and there is more steam left for the upside towards 25350 – 25500. Thus, this current consolidation phase should be used as a buying opportunity. Crucial support zone is placed at 24900 – 24850 and should be kept as a stoploss for the long positions.Hrishikesh Yedve, Asit C Mehta Investment InterrmediatesTechnically, on the daily chart, the index formed a small red candle, indicating selling pressure at higher levels. However, the index is still holding above the low of the insider bar candle. Thus, as long as the index holds above the low of 24,690, levels of 25,150–25,350 could be possible. However, a close below 24,690 could lead to a fresh breakdown.Praveen Dwarakanath, Hedged.inNifty formed an insider candle, indicating indecisiveness. The rally during the day was sold-off, indicating weakness to continue in the index. ADX DI- line continues to trend downside, still not showing signs of a further fall, however, momentum indicators are hinting towards a fall in the index. Options writer's data showed a short covering of 25300 puts while an increase in call writing at 25000 and above levels, indicating a sideways to downside bias in the index.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)