News Shots

Joseph Robinette Biden Jr. was sworn in as the 46th president of the United States. Biden gave a promising speech which started with “This is America’s day. This is democracy’s day,” and ended with “Together we shall write an American story of hope, not fear; of unity, not division; of light, not darkness,”

Fair trade regulator Competition Commission of India (CCI)has approved the stake acquisition in Max Life Insurance Company by Axis Bank, Axis Capital and Axis Securities.

SEBI gave a go-ahead to Future Group‘s scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its “no adverse observation” report to the Rs 24,713-crore deal.

Competition Commission of India has approved the acquisition of 7.8 per cent minority stake in Aditya Birla Fashion by Flipkart Investments Private Ltd (FIPL).

Laurus Labs has acquired a majority stake in Bengaluru-based biotech company Richcore Lifesciences marking its entry into the biotechnology segment.

Bajaj Finance net profit declined 29% in the third quarter as loan growth remained weak and the firm had to also reverse some interest income.

HDFC Asset Management Company reported a 5 per cent increase in profit after tax at Rs 369.26 crore for three months ended December 31.

Havells India reported a 74.52 per cent jump in its consolidated net profit to Rs 350.14 crore for the third quarter ended in December 2020.

Bajaj Finserv reported a 15 per cent rise in its consolidated profit at Rs 1,290 crore for the third quarter ended December.

The Union Cabinet has given its approval to an investment of Rs 5281.94 crore for 850 MW Ratle Hydro Electric (HE) Project located on river Chenab in Kishtwar district by a new JV company to be incorporated between NHPC and Jammu and Kashmir State Power Development Corporation (JKSPDC) with equity contribution of 51 per cent and 49 per cent, respectively.

UltraTech Cement to consider and evaluate a proposal for raising of funds in one or more tranches through methods or combinations as decided by the board on January 23.

Major Q3 results to be announced today:

  • Asian Paints
  • Bajaj Auto
  • SBI Card
  • Bandhan Bank
  • Biocon
  • Mphasis
  • Kajaria Ceramics
  • MCX
  • Mphasis

What to expect today?

NIFTY, against expectations, was on a bull run yesterday also. It created a fresh all time high and closed just below 14,650 You can read all about yesterday’s movements here.

Bank Nifty, tested 32,600 multiple times before closing at 32,543. It has resistances at 32,600 and 32,700.

NIFTY AUTO and NIFTY IT lead the markets yesterday, with FMCG being the only dragging sector.

Biden’s inauguration went smoothly and positively, and we can see the US and global markets celebrating the event.

Europe closed slightly up. US markets closed marginally higher (more than 1%). Asian markets are mostly up, but not by great margins. SGX NIFTY is trading higher at 14,682, which is nearly 40 points higher, indicating a gap up opening in the Indian Market. 

Our market is expected to open at another all time high!! Though the global markets are up, I am also cautious about profit booking as we have been witnessing a rally since the last 2 days. NIFTY has already rallied 400 points since Monday. But hey, we are in a bull market with more positive news coming in every single day, right?

There hasn’t been much volatility in the last 2 days. India VIX is also down. Will we see a classic expiry special Thursday volatility today?

Highest Call Open Interest at 14,700, followed by 14,600, 14,750, 14,800 etc. Highest Put Open Interest at 14,500, followed by 14,000. 

There might be an OI shift when the market opens and that might determine today’s trading range.

14,600 might act as a support today and 14,700 and 14,750 to act as resistances.

Foreign institutional investors (FIIs) net bought shares worth Rs 2289 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 864 crore in the Indian equity market.

Reliance is doing well before the results. Watch Reliance today also. Also watch Bajaj twins and Asian Paints.

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