As expected, the auto sales data are low but they are picking up. Auto companies are gradually reviving and ramping up production.
In a revolutionary move, Indian Railways invited bids for operating 151 private trains.
The Bombay high court (HC) directed the income tax (I-T) department to refund Rs 833 crore to Vodafone Idea Limited within two weeks while upholding the telco’s plea.
Adani Ports and Special Economic Zone (APSEZ) is set to raise about $1 billion in overseas bonds with up to 30-year maturity.
Polycab India incorporated a wholly-owned subsidiary in Australia, Polycab Australia PTY Ltd.
The production of Coal India declined by 12.8 per cent to 39.20 million tonnes (MT) in June compared to 44.95 MT of coal in June last year.
Packaging company Uflex has reported a 43.30 per cent rise in consolidated net profit at Rs 100.90 crore for the March quarter helped by volume growth.
Dr Reddy’s Laboratories has partnered with the Japanese pharma giant Fujifilm Toyama Chemical and Global Response Aid (GRA) for development, manufacture and sale of antiviral drug Avigan (favipiravir) tablets for potential treatment of Covid-19.
Urja Global signed MOU with Ogata Motors India for manufacturing of electric vehicles in Delhi (Just have a look at its chart)
What to expect today?
Yesterday, NIFTY crossed the resistance of 10,400 and zoomed ahead, even though the global cues were bad. If you can see, then the market tried coming down but 10,400 acted as a support (2 times) Try booking quick profits rather than holding positions for long in such markets.
The global markets are mixed. NASDAQ has crossed 10,150. SGX NIFTY is currently trading higher at 10,470, indicating a gap up opening in the Indian Market.
NIFTY is likely to trade between 10,315 and 10,550 today. There is support at 10,400 and 10,350, and resistance at 10,500 and 10,550.
Highest Call Open Interest at 10,500, followed by 10,000. Highest Put Open Interest at 10,000, followed by 10,300.
FIIs ended as net sellers, selling nearly Rs 1700 crores. DIIs bought for nearly Rs 1400 crores.
Banks led the rally yesterday. Reliance tested the resistance at 1750 again. Keep watching for a breakout.