News Shots

Hero MotoCorp has launched an all-new XPulse 200 4 Valve bike priced at Rs 1.28 lakh (ex-showroom Delhi). The bike is a powerful addition to the company’s X-range of the premium portfolio.

Oberoi Realty reported over two-fold jump in its sales bookings at Rs 828.52 crore for the quarter ended September on improved housing demand driven by low mortgage rates.

Vedanta has taken up a transformative programme to embed environmental, social and governance (ESG) into every aspect of the decision-making and performance evaluation process.

Bank of Baroda has reduced its home loan rate by 25 basis points (bps) to 6.50 per cent from 6.75 per cent. The new rate will be available for customers till December 31, 2021.

The pharma-to-NBFC player Piramal Enterprises has approved the demerger of its pharmaceuticals business and simplification of the corporate structure to create two listed entities in financial services and pharmaceuticals. Shareholders will get 4 shares of Piramal Pharma Ltd. for each share held.

JSW Energy has entered into a contract with GE Renewable Energy for the supply of 810 MW wind turbines.

Ratnamani Metals & Tubes has received a new order of Rs 98 crore for the supply of carbon steel pipes from the domestic oil and gas sector, to be executed in 5 to 12 months.

Major Q2 results to be announced today:

  • Tata Consultancy Services

What to expect today?

Yesterday, NIFTY opened with a big gap up at 17,814 and tried to move up. But the index took resistance at 17,850 and fell to close the day at 17,790, up 144 points or 0.82%. You can read all about yesterday’s market movements here.

BANK NIFTY also opened with a gap up but then moved down. The index consolidated within nearly 300 points and closed the day at 37753, up 231 points or 0.62%.

All the major sectors closed in the green today with NIFTY REALTY(+6.1%) and NIFTY AUTO(+4.3%) as top performers.

The western markets continued to recover strongly. The European and the U.S. markets are all up more than 1%.

All of the Asian markets are also trading well in the green. The European futures and the U.S. futures are also trading higher.

SGX NIFTY is trading higher at 17,846 indicating a gap up opening in the Indian market. 

Supports for NIFTY are at 17760, 17680 and 17600. We can expect Nifty to take resistance at 17830, 17900 and 17950.

BANK NIFTY has supports at 37500, 37300, 37200 and 37000. Resistances are at 37800, 38000 and 38350.

NIFTY has the highest call OI buildup at 17,800 and the highest put OI buildup is also at 17,800. With today’s moves, we can expect a change in OI buildups which can give a sense of direction for the next week.

The highest call OI buildup in BANK NIFTY is at 38,000 and the highest put OI buildup is at 37,000. 

Foreign institutional investors (FIIs) net sold worth Rs 1764 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 2529 crores in the Indian market.

VIX crashed 6% yesterday and got back into 16 ranges. This week saw major volatility in the market and VIX going back to higher levels. Keep a watch on VIX for some more days.

This week has been super volatile, globally and locally. And finally, both NIFTY and BANKNIFTY are near all time highs again. 

RBI Monetary Policy will be announced at 10 am today. It will mostly be a non event but let’s follow the announcements diligently.

The Q2 result announcements will be officially kicked off today with TCS announcing its result. The result will be announced after market hours only. Good results are expected.

Also, the US jobs data will be out. Let’s see if that can become a trigger for the global markets to make the next big move, either up or down. The chances are high for this data also to be positive.

I’ll be watching NIFTY between 17,800 and 17,900 today. Based on which level is broken, I will be having my views on the market.

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

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