News Shots

NSE will add 6 stocks to the F&O segment from the March series. They are Alembic Pharmaceuticals, City Union Bank, Granules India, Gujarat Gas, L&T Technology Services and Mphasis.

The Indian Energy Exchange (IEX) said state-owned GAIL (India) Ltd has acquired five per cent stake of the IEX in its arm Indian Gas Exchange (IGX).

IndiGo has settled with SEBI a case of alleged corporate governance lapses and listing norms violations that were raised by the company’s co-promoter Rakesh Gangwal.

Bharti Airtel, Reliance Jio and Vodafone Idea have submitted applications to participate in the upcoming March 1 spectrum auction worth Rs 3.92 lakh crore.

Amalfiaco, a promoter of Crompton Greaves Consumer, has sold 3.8 crore shares of the company for Rs 1,492 crore through open market transactions.

Mall developer Phoenix Mills has said acquisition of approximately 7.48 acres of prime land in Alipore, Kolkata for a sum of Rs 300 crore has been done.

Tata Steel has returned to profits in Q3 by posting a consolidated profit of Rs 4,010.94 crore due to increased income and margins.

Glenmark Pharmaceuticals’ board will meet this week to consider the buyback of its Singapore-listed foreign currency convertible bonds (FCCBs).

Coffee Day Enterprises has reported fall of consolidated net loss to Rs 97.11 crore Q3 against a net loss of Rs 184.94 crore in the same quarter last year.

Muthoot Finance has reported a 22% jump in standalone profit to Rs 991.4 crore for the third quarter ended December 2020.

Major Q3 results to be announced today:

  • Titan Company
  • Eicher Motors
  • Hindalco Industries
  • GAIL
  • Aurobindo Pharma
  • IGL
  • Page Industries
  • Bata India

What to expect today?

NIFTY hit a fresh all time high near 15,260 and then succumbed to heavy profit booking and fell nearly 200 points to close just above 15,100. You can read all about yesterday’s movements here.

Bank Nifty is clearly moving within a range, with high volatility. It has been trading in the range 35,600 – 36,600 for the last 3 days. These levels can be watched for a brekout/breakdown opportunity.

Consolidation has kicked in everywhere. Markets around the globe ended flat yesterday.

All the European and US markets closed without significant gains or losses. Most of the Asian markets are trading in the green, but not much higher. SGX NIFTY is trading higher at 15,167, indicating a flat to gap up opening in the Indian Market. 

Yesterday’s high of 15,260 would act as resistance in the coming days.

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

Highest Call Open Interest at 15,500, followed by 15,200. Highest Put Open Interest at 15,000, followed by 14,000. 

Foreign institutional investors (FIIs) net bought shares worth Rs 1,300 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 1,756 crore in the Indian equity market.

DIIs sold more than how much the FIIs bought, thereby triggering the intraday fall. It is just natural for the DIIs to book profits as the market has rallied for the last many trading sessions.

Reliance faced stiff resistance when it was reaching 2000. Titan, Eicher, Tata Steel and ITC can be watched today.

Today will most probably be consolidation between 15,000 and 15,260. If these levels are broken, we will see trend in that direction.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!