• Reliance has raised another round of Private Equity funds. General Atlantic to invest Rs 6,598.38 crore in Jio Platforms.
  • Vedanta Ltd.’s board of directors will meet today to consider the delisting proposal
  • L&T Technology has reported increased profits in their Q4 results
  • FII sold Rs 2388 crores and DII sold Rs 1,225.53 crore in the Indian equity market on May 15. Clearly, the economic package was not appreciated
  • Maximum call open interest (OI) at 9,500 strike price. Maximum put open interest at 9,000 strike price. Clearly 9000 – 9500 should be the trading range for NIFTY
  • US and Asian markets had closed higher on Friday. SGX NIFTY down by 50 points
  • NIFTY expected to move between 9000 and 9250
  • NIFTY seems to have a support at 9000 range. Might break eventually. Watch carefully. Likewise, 18000 is a strong support range for BANKNIFTY
  • US-China trade tensions, increasing COVID-19 cases and an uninspiring economic package have negative impacts on the market
  • All major banks had fallen heavily last week. It will be interesting to watch for short coverings.

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