News Shots

  • There are official statements from Russia which says they will make the COVID 19 vaccine available to the public next month. 
  • Zydus Cadila’s Chairman Pankaj Patel announced that they aim to complete late-stage trials for its coronavirus vaccine candidate ‘ZyCov-D’ by March 2021. Cadila will start production of 100 million doses of potential Covid19 vaccine annually after Phase 3 trial concludes successfully.
  • Telecom AGR Supreme Court hearing today. Focus on Vodafone Idea and Bharti Airtel.
  • There has been an allegation filed against Glenmark for false claims and high prices of FabiFlu, its Fabipiravir drug, for treating patients with mild to moderate COVID-19.
  • HCL Tech, M&M Finance, Britannia, Granules, ICICI Lombard, HDFC Bank have come up with exceptional Q1 Results.
  • Hindustan Unilever Limited said it has temporarily closed down its Haridwar plant, where several of its employees have been tested positive for COVID-19.
  • Canara Bank to raise up to Rs 5,000 crore equity capital through various modes in the current fiscal year to boost its capital adequacy ratio in view of expansion plans, and will seek nod from shareholders for the same in its AGM next month.
  • Ashok Leyland on Saturday said former Aston Martin CEO Andrew Palmer has been appointed as non-executive chairman of its British arm Optare Plc.
  • Radhakishan Damani-owned Bright Star Investments cut stake in BlueDart Logistics to 3.11% in June quarter from 3.35% in March quarter.

What to expect today?

  • Last week, NIFTY was highly volatile and moved mostly between 10,600 and 10,880. But we saw a sudden surge on Friday afternoon and NIFTY broke its 200 DMA resistance at 10,880-10,890 levels and moved up and over 10,900. This was achieved with the help of sudden movements in Reliance and HDFC Bank.
  • Surprisingly, global sentiments look a bit weak. US, European and Asian markets are mostly down. SGX NIFTY is currently trading lower at 10,918, indicating a near flat opening in the Indian Market. 
  • Today is decisive as to where NIFTY will be headed in the coming days. NIFTY is likely to trade between 10,800 and 11,000 today, any movement beyond these have to be watched. There is support at 10,880 and 10,830, and resistance at 10,970 and 11,050.
  • Highest Call Open Interest at 11,000, followed by 10,800. Highest Put Open Interest at 10,500, followed by 10,600. 
  • Foreign institutional investors (FIIs) bought shares worth Rs 697.08 crore, while domestic institutional investors (DIIs) sold shares worth Rs 209.42 crore, on Friday.
  • As conveyed, Bank Nifty has been underperforming. If banks cover that and move up, it can take NIFTY also up. Banks can be large movers this week, also given that multiple bank results are also to be released soon.