News Shots

Muthoot Finance’s request for a no objection certificate to acquire IDBI Capital Markets & Securities, IDBI Trustee and IDBI Asset Management has not been approved by RBI on the grounds that the activity of sponsoring a mutual fund or owning an asset management company is not in consonance with the activity of an operating NBFC.

Tata Sons Chairman N Chandrasekaran has been appointed as additional director and chairman of Tata Chemicals with effect from Nov 24.

Mphasis has been awarded a US patent for its deep learning-based framework, Autocode.AI that automates software code development.

Glenmark Pharma – S&P Global Ratings has affirmed the company’s ‘BB-‘ ratings, off Credit Watch on easing refinancing risk; outlook Stable.

State Bank of India (SBI) has raised Rs 2,500 crore from bonds to fund business growth.

IRB Infrastructure said that the Agra-Etawah build-operate-transfer project has been issued a completion certificate.

Integrated travel services company Thomas Cook India introduced ‘Virtual Holiday Store’ to provide customers with contactless and convenient holiday planning.

State-owned Union Bank of India will raise up to Rs 1,000 crore from bonds to fund business growth.

What to expect today?

Yesterday was a historic day as NIFTY crossed the 13,000 mark. As we expected, the market is highly bullish. NIFTY opened with a gap up and traded within the range of 13,000 and 13,080. It was a steady gain in the market. Click here for a detailed analysis of yesterday’s market and stock movements. 

Bank Nifty, was even more bullish, moving up by 2.5%, reaching nearly 29,800.

Almost all the sectors went up yesterday, led by the banks, realty and auto.

 Reliance was volatile but gained strongly towards the end of the day. There was a quick movement just before the close and that took NIFTY also up. If Reliance is  to cross 2000 and move further up, that can take NIFTY to new ultra highs!

There is a rally in the global markets as coronavirus vaccine hopes and fading uncertainty in the US politics boosted sentiment.

The European markets are up. The US markets are up. Dow Jones has crossed 30,000 and created an all time high! Asian markets are also mostly up. SGX NIFTY is trading at 13,181, which is nearly 100 points higher, indicating a gap up opening in the Indian Market.

NIFTY is likely to trade between 13,000 and 13,200. 

We are witnessing a historic bull rally in the market. These are times when I question the fundamentals of the market. I don’t think the markets should be soaring high like this. The better the rally becomes, the greater the fall will also be (as and when it happens).

Highest Call Open Interest at 13,500, followed by 13,200. Highest Put Open Interest at 12,800, followed by 12,000.

Foreign institutional investors (FIIs) net bought shares worth Rs 4,563.18 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,522.11 crore in the Indian equity market.

FIIs have pumped in Rs 56,000 crores in November. For perspective, the whole MSCI index  rebalancing brought in only Rs 25,000 crores!

Now that 13,000 has been crossed, there are chances of a quick up movement before the market cools down. And the rally in the global markets are also supporting NIFTY.

With all the open options trading positions I have entered into, I don’t want NIFTY to cross 13,200 today. Follow us on marketfeed app’s livefeed section to get real-time updates from the market. All the best for the day!