News Shots

Tata Elxsi net profit has increased 39.5% YoY to Rs 105.2 crore for the December 2020 quarter.

Tech Mahindra to acquire Payments Technology Services Ltd (PTSL), a step-down subsidiary of fintech firm FIS, for $9 million (about Rs 66 crore).

State-owned power producer SJVN has approved a proposal to raise up to Rs 2,000 crore via bonds or debentures.

RITES has won a Rs 68 crore contract from National High-Speed Rail Corporation (NHSRCL) in relation to the 487-km Mumbai-Ahmedabad High-Speed Rail Corridor.

The nation’s biggest lender to the power sector, Power Finance Corporation(PFC), will raise Rs 10,000 crore through bonds in two tranches, the first of Rs 5,000 crore will open for subscription on January 15 and close on January 29.

Tata Consultancy Services (TCS) will acquire GE’s stake in Tata Consultancy Services Saudi Arabia for $12,471 (about Rs 9.13 lakh).

SpiceJet has signed an agreement with Belgium’s Brussels Airport for providing seamless transportation of COVID-19 vaccines.

Hero MotoCorp has expanded its presence in Central America by appointing new distributor partners in Nicaragua and Honduras, with aggressive expansion plans for both countries. Further Hero plans to launch a range of premium motorcycles in both countries and expand its network with extensive customer touch-points and flagship stores in key markets.

Bharti Airtel has received approvals for its relevant downstream investments. Accordingly, the company has initiated the process to revise its foreign investment limit, as notified to its depositories, to 100% with immediate effect.

Tata Motors global wholesale numbers have increased 37 percent QoQ and 1 percent year-on-year to 2.78 lakh units in Q3FY21.

Bharat Rasayan board has approved the proposal of buyback of 2.2 percent shares at Rs 11,500 per share.

Nirmitee Robotics India is going to provide AC duct cleaning services at India’s Largest Hydroelectric power station i.e., Koyna Hydroelectric power project.

Some major Q3 results being announced today:

  • Infosys
  • Wipro
  • CESC
  • GTPL Hathway
  • Amtek Auto
  • 5paisa Capital

What to expect today?

Bullishness continued in NIFTY as expected. 14,500 was breached and NIFTY closed at 14,563. You can read all about yesterday’s movements here.

Bank Nifty, was more bullish than NIFTY. The resistance at 32,000 was broken during the day. Bank Nifty went up and closed just below the major resistance at 32,500.

PSU Banks were the stars yesterday while IT, Pharma and FMCG took rest.

US markets have closed marginally higher. Europe has closed slightly down. All asian markets are almost trading in the green. SGX NIFTY is trading higher at 14,631, which is nearly 50 points higher, indicating a gap up opening in the Indian Market. 

As we have been seeing in the past few days, there will be sudden sell offs after the gap up opening, forming a red candle to begin the day with. We can expect a similar day today.

India VIX keeps moving higher, which is a sign of more volatility in the market. It is expected to cool down today.

Highest Call Open Interest at 15,000, followed by 14,800. Highest Put Open Interest at 13,500, followed by 14,000. 

Foreign institutional investors (FIIs) net bought shares worth Rs 571 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 1,334 crore in the Indian equity market.

Infy and Wipro are to announce their Q3 results today. Keep them in watch.

32,500 is an important level for Bank Nifty. Do watch out for a breakout.

The bullishness continues in the market. 14,600 may be breached today. But, I am expecting some sort of a consolidation and the market to remain around 14,500 for some days.  For some perspective, NIFTY had crossed 14,000 on 31 Dec, 2020. That is, it has moved from 14,000 to nearly 14,600 in just 9 trading days!

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