News Shots

Status quo in the Future-Reliance Retail deal has been lifted by Delhi High Court. The case will now come up for hearing on Feb. 26.

Vedanta is considering offering secured NCDs aggregating upto Rs 500 crore in one or more sets.

Hindustan Aeronautics(HAL) has entered into an agreement with Elbit Systems Electro Optics Elop Ltd., Israel, for supply of Digital Overhead Head Up Display Systems (DOHS) during the recently concluded Aero India-2021.

Hindustan Zinc has entered into a pact with Swedish mining gear maker Epiroc’s India arm to  introduce electric vehicles in underground mining.

VST Tillers Tractors has announced a technical supplier partnership with Monarch tractors the two companies have worked collaboratively for over a year on the technical development of tractor hardware for the first series of Monarch Tractors.

Aberdeen Standard Investments, AIA Group and Pimco are among global investors that may have bought UltraTech’s maiden dollar bonds offering 167.5 basis points higher yields than US Treasury bonds.

Torrent Pharmaceuticals reported an 18.32 per cent rise in its consolidated net profit to Rs 297 crore for the quarter ended in December.

Godrej Consumer Products reported 12.77 per cent increase in consolidated net profit at Rs 502.08 crore for December quarter 2020-21 helped by sales growth in domestic market.

The state-owned mining major NMDC reported its consolidated net profit jumped 53 per cent to Rs 2,108 crore for the quarter ended in December.

Bodal Chemicals is in advance negotiations to buy Chlor-Alkali business of Mawana Sugars as the Delhi-based firm looks to sell non-core businesses to focus its core sugar business.

Major Q3 results to be announced today:

  • Adani Ports
  • Tata Steel
  • Berger Paints
  • Muthoot Finance
  • Max Financial India
  • Indian Overseas Bank
  • Endurance Technologies
  • Torrent Power

What to expect today?

NIFTY jumped over 15,000 levels and moved nearly 200 points up yesterday, continuing the dream bull rally. You can read all about yesterday’s movements here.

Bank Nifty was less bullish, not able to sustain 36,000. It moved 0.92% up but a red candle was formed. The close was just below 36,000.

The positivity from the US is spreading all around the globe. We could see global markets going up yesterday and today.

All the European and US markets closed in the green. All the Asian markets are trading higher right now. SGX NIFTY is trading higher at 15,162, indicating a flat to gap up opening in the Indian Market. 

Yesterday’s high of 15,160 could’ve acted as a resistance today. But let’s see if that is taken out in the opening itself.

Moving down, NIFTY has support at 15,000-15,050, 14,800 and 14,660. In the medium-term, 14,500 and 14,000 will be taken as good supports.

Highest Call Open Interest at 15,500, followed by 16,000. Highest Put Open Interest at 14,000, followed by 14,500.

Foreign institutional investors (FIIs) net bought shares worth Rs 1,876 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 504 crore in the Indian equity market.

Watch out for Tata Stocks as there are reports saying Tata Sons is planning to increase their stake in Tata Motors.

Bank Nifty has started to consolidate. Will the same happen happen to NIFTY also? Watch out for all major sectoral indices to understand the momentum in the market. That can help us to understand the trend. Then trade accordingly.

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