News Shots

Donald Trump has shown interest in expediting the economic stimulus. This has boosted the US markets. They closed nearly 2% up.

TCS Q2 results – Net profit drops 7% to Rs 7,475 cr but still managed to beat street estimates. The board has approved Rs 16,000 crores in share buyback.

Wipro to consider share buyback plan during its upcoming board meeting on October 13.

Infosys has announced an automated data science platform to support public health agencies.

Reliance – Future Group Deal in trouble. Amazon has sent a legal notice to promoters of Future Group for allegedly breaching a non-compete like contract over Amazon’s deal with RIL. We’ll write in depth about this in our Editorial Section.

Maruti Suzuki India’s total production in September increased 25.63 per cent to 1,66,086 units. The company had produced a total of 1,32,199 units in the same month last year.

Zee Entertainment Enterprise Ltd (ZEEL)’s Independent Director Manish Chokhani has paid a fine of Rs 8.20 lakh for violation of insider trading norms. The company has transferred the said amount to the Investor Protection and Education Fund (IPEF) administered by market regulator SEBI.

Hero MotoCorp has launched Maestro Edge 125 Stealth will be available at a price of Rs 72,950 per unit in the upcoming festive season.

ICICI Prudential Life Insurance will raise up to Rs 1,200 crore by issuing non-convertible debentures (NCDs) on a private placement basis.

ITC’s health and hygiene brand Savlon is growing at 3-4 times as compared to last fiscal and is going to touch the Rs 1,000 crore sales mark this year.

Bharti Airtel has renewed its 4G network expansion contract with Swedish gear vendor Ericsson for eight telecom circles in the country, a move which will help the telecom operator prepare for deployment of 5G technology in the next few years.

HDFC Bank announced a tie-up with Apollo Hospitals through which its customers can avail unsecured loans of up to Rs 40 lakh to pay for medical expenses incurred at the healthcare chain.

The Delhi government permitted reopening of cinemas, theatres and multiplexes with up to 50 per cent of their seating capacity from October 15. PVR, INOX in focus.

Bandhan Bank September Update – Loans up 20% at Rs 76,724 crore, on a year on year basis. And deposits up 34% at Rs 66,153 crore. Liquidity coverage ratio stands at 157%.

What to expect today?

Just as discussed yesterday, NIFTY once crossed 11,680, gave a rally and closed near 11,760! It was a very strong day. Click here for a detailed analysis of yesterday’s market and stock movements. 

Bank Nifty took resistance at the ever important level of 23,000.

11,800 is a very strong resistance for NIFTY. Today is crucial where we can see 11,800 being tested. If the market sustains above 11,800, it can give higher highs.

Yesterday, we wrote about Reliance, if moves, can help NIFTY. And that happened. Going ahead, if Reliance continues its up movement along with HDFC Bank and TCS, NIFTY can regain 12,000.

Now NIFTY has almost regained nearly 1,000 points in 8 trading sessions! This is a cause of worry at the same time. Profit booking may kick in any time and that can lead to a small correction. So, be ready for it.

When Donald Trump delayed the economic stimulus, the US markets went down. Immediately, he kicked in and said that the stimulus is under consideration for immediate deployment.

US Markets are up thanks to Donald Trump’s remark about the economic stimulus. Asian markets are mostly up. SGX NIFTY is trading at 11,808, which is 14 points higher, indicating a flat to gap up opening in the Indian Market. 

NIFTY is likely to trade between 11,700 and 11,850 today. There is support at 11,750 and 11,720 and resistance at 11,800 and 11,850.

Highest Call Open Interest at 12,000, followed by 12,500. Highest Put Open Interest at 11,000, followed by 11,300.

Foreign institutional investors (FIIs) net bought shares worth Rs 1,093.81 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 1,129.49 crore

IT Stocks in focus. Nothing more to say.

TCS might open with a gap up. Wait and watch to understand trend and then get into a trade.

NIFTY is indeed at a very crucial position. Let’s see if it can break 11,800 strongly and sustain above it. All the best for the day!