News Shots

HDFC has acquired an 8.4 per cent stake in Ansal Housing after invoking shares pledged with the corporation for recovery of loans.

The crisis ridden NBFC, Indiabulls Housing Finance, has approved a proposal to raise over Rs 7,000 crore through various means.

Amazon Web Services (AWS) has inked a multi-year deal with Axis Bank to power the digital transformation programme of the country’s third largest private sector bank.

India’s drug regulator DCGI has granted permission to the pharma major Cipla to import Moderna’s COVID-19 vaccine for restricted emergency use in the country. The company is supporting Moderna with the regulatory approval and import of COVID-19 vaccines to be donated to India and there is no agreement on commercial supplies at this stage.

Cipla, Dr. Reddy’s Laboratories, Emcure Pharmaceuticals, Sun Pharmaceutical Industries and Torrent Pharmaceuticals will collaborate for clinical trials of investigational antiviral drug Molnupiravir for the treatment of mild Covid-19 in an outpatient setting.

Tata group hospitality firm Indian Hotels Company is planning to expand the reach of its food delivery platform, Qmin, targeting presence in 25 cities over the next two years.

The State-run power generator NTPC intends to list its arm NTPC Renewable Energy Ltd to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032.

Bharti Airtel to invest additional $500 million in OneWeb, a U.K.-based satellite start-up.

Some major Q4 result announcements today:

  • SpiceJet
  • Vodafone Idea
  • Balu Forge Industries
  • Cerebra Integrated Technologies
  • Coffee Day Enterprises
  • Dish TV India
  • IRCON International
  • Sadbhav Engineering

What to expect today?

Yesterday, NIFTY opened flat above 15,800 and moved down with volatility to close below 15,750. You can read all about yesterday’s movements here.

BANK NIFTY was more bearish than NIFTY and closed 1% down, that is just above 35,000. 

PSU BANKS and METALS performed the worst. Most of the sectors and stocks fell yesterday.

The European markets closed in the green. The US markets opened with a gap up and displayed consolidation with a negative bias to close flat, in green.

Most of the Asian markets are trading positively in the green. US and European futures are also flat to slightly up.

SGX NIFTY is trading higher at 15,820 indicating a gap up opening in the Indian market.

The immediate supports for NIFTY are at 15,800 and 15,750. 

Meanwhile, the all time high of 15,900 will act as strong resistance. NIFTY has been rejected 3 times from 15,900 already.

35,500 and 35,800 are the important resistances to be watched out for in BANK NIFTY. 

BANK NIFTY has good support at 35,000, 34,650 and 34,400. 

The highest call OI buildup in NIFTY is at 15,900 followed by 15,800. The highest put OI buildup is at 15,500 followed by 15,700. The PCR has fallen to 0.7, indicating bearishness.

BANK NIFTY has a huge call and put buildup (straddles) at 35,000 and a huge call buildup at 35,500. PCR is at 0.6 and indicating bearishness. The most important point to observe today is to see whether BANK NIFTY can sustain 35,000.

Foreign institutional investors (FIIs) net bought worth Rs 116 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 1,810 crores in the Indian equity market. 

RELIANCE has hugely underperformed after its AGM and reached a major support of 2080-2100. Let’s see if it will recover from here. 

The OI analysis is indicating that upside move is limited but there can be a down move. There is nothing else in the market suggesting a steady down move. So, it’ll make sense if the market continues to be in a consolidation mood. 

The upper side levels to watch out for this week are 15,900 in NIFTY and 35,500 in BANK NIFTY. The lower level I’ll be interested in today is 35,000 in BANK NIFTY.

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