News Shots

Mazagon Dock Shipbuilders has delivered the third Scorpene Submarine to the Indian Navy, soon to be commissioned into the Navy as INS Karanj.

Titan’s subsidiary CaratLane Trading has incorporated a wholly-owned subsidiary ‘StudioC Inc’ in Delaware, US for retailing of jewellery. Jewellery is the most profitable business for Titan.

Railtel Corporation of India IPO opens for subscription today. You can apply through your broker.

Oil has hit a 13-month high as vaccine rollout in the western world progresses. Producers are also keeping supplies down. This may hit margins of PSU Oil marketing companies as the government will be forced to reduce prices.

As we discussed on TSMS yesterday, India’s exports for January were up 6.16% Year-on-Year. This means that the economy is getting back on track.

Semiconductor shortage worries have come back to worry auto manufacturers reportedly shifting and concentrating production to higher sales products. Auto stocks were weak in the market yesterday.

Promoter Harmonia Trade and Investment acquired 25 lakh shares of Adani Green Energy on February 12.

Both Tech Mahindra and Wipro have announced a strategic partnership with Germany’s Telefonica to drive business growth through IT services.

The World Health Organization (WHO) listed two versions of the AstraZeneca-Oxford Covid-19 vaccine for emergency use, giving approval for Covax globally.

Earnings expected today

  • Nestle India
  • Varun Beverages
  • Schaeffler India

What to expect today?

NIFTY tried to consolidate yesterday but financial stocks took the index up. If you keep apart financials, no other sector contributed to Nifty. Even after opening with a gap-up, Nifty traded in a narrow range of 90 points. You can read all about yesterday’s movements here.

Bank Nifty was very bullish with every banking stock performing. It moved more than 3%, and closed 1200 points up.

US markets are closed today so there are no cues from there. Asian markets are in green, with Japan leading the way again.

SGX NIFTY is trading slightly higher at 15,345, indicating a flat to gap-up opening in the Indian Market.  

NIFTY has immediate support at 15,260 then at 15,200. Looking up, NIFTY continues to have immediate resistance at 15,350 and 15,400. 

Foreign institutional investors (FIIs) net bought shares worth Rs 1234.15 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 1048 crore in the Indian equity market. Again back to net buying in the market by institutions .

With little cues from US markets, we may see some consolidation today. Nifty and Bank Nifty did close near their highs signalling a bullish position for the week, meaning even if it consolidates today, it might be a bit volatile as bears and bulls fight each other.

A lot of put options writing was seen at 15,200 and 15,300 with more call option contracts being formed above 15,600. Definitely option sellers have taken an aggressive position but these may just be retailers. This expiry session close seems to be above 15,000 anyway.

Hoping for a sideways day in the market today, after the maybe gap-up opening. But the markets may surprise us, let’s watch for a trend and trade accordingly.

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