News Shots

Very tight competition in Georgia run-off elections so far. Reports say that Democrats are leading but by a very slim margin. There is a high number of postal ballots which have to be counted, which are still coming in, causing delay.

Don’t expect to get the verdict by tonight. As we saw in the case of the Presidential election, there might be a delay in the result announcement.

HDFC Bank has reported a loan growth of 19% to Rs 10,82,000 crore during the third quarter ended December 2020.

HDFC is set to raise up to Rs 5,000 crore by issuing bonds on a private placement basis to meet its business expenses and needs.

IndiGo will now be able to operate longer international routes with its 29 Airbus A320/A321neos, powered by modified P&W engines, getting the Extended Diversion Time Operations (EDTO) approval from India’s aviation regulator, DGCA.

Foreign brokerage firm Credit Suisse believes that global oil producer and refining giant Saudi Aramco, may once again show interest in buying the 20% stake in Reliance Industries‘ energy business if global crude oil prices continue to move up.

The Reserve Bank has imposed a penalty of Rs 2.5 crore on Bajaj FinanceLimited for violation of various rules, including ones on recovery and collection practices.

Private sector lender CSB Bank has said SBI Mutual Fund has increased its stake in the bank to over 5%. The stake of the fund house rose from 4.96% to 5.01% following an additional purchase of 86,993 shares.

Tata Power has announced a partnership with SIDBI to provide a finance scheme to the MSME players in the rooftop solar segment.

Bandhan Bank has signed an agreement with the Indian Army to provide banking services to the members of the force.

BEML has received orders from the Ministry of Defence for supply of High Mobility vehicles, at an approximate value of Rs 758 crore. The equipment will be manufactured at BEML’s Palakkad Plant in Kerala and start supplying to Indian Army in a time of one year.

ACC has commenced new cement production facility at Sindri, Dhanbad District of Jharkhand. The new facility will add an additional capacity of 1.4 MTPA cement to the existing 3.0 MTPA unit.

What to expect today?

NIFTY zoomed up again yesterday crossing 14,200. This was the 10th consecutive green candle in NIFTY. You can read all about yesterday’s movements here.

Bank Nifty broke out from 31,400 (I had asked to watch this level) and has reached 31,770, which is again an important level. Do watch for another breakout opportunity above 31,770.

There isn’t a final verdict from the Georgia run-off elections and thereby uncertainty has taken over the markets globally.

US markets closed in the green. Europe was mixed. Asian markets are also mixed. SGX NIFTY is trading flat at 14,202, indicating a flat to gap up opening in the Indian Market. 

Highest Call Open Interest at 14,500, followed by 14,300. Highest Put Open Interest at 14,000, followed by 14,100. The setup looks very bullish.

Foreign institutional investors (FIIs) net bought shares worth Rs 986 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 590 crore in the Indian equity market.

Banks, giving a breakout yesterday, may breakout again today. Watch out for 31,770 as a resistance.

We are witnessing an unbelievable bull rally. Though there is a bit of volatility here and there, these are great times to make money in the market. Hope all of you are doing well! Will we see the 11th green candle today?

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