News Shots

  • Shriram Transport Finance Co approved a rights issue of equity shares to the promoters and promoter group to raise up to Rs 1,500 crore.
  • Tata Power has selected seven investors to enter the due diligence phase to invest in its Infrastructure Investment Trust (InvIT)
  • JP Morgan Funds on Monday bought TCS shares worth nearly Rs 247 crore through open market transaction, at an average price of Rs 2,199 apiece.
  • Joining the fund raising bandwagon, PNB will consider a proposal to raise capital through a mix of both equity and debt on July 9.
  • Manappuram Finance to raise up to Rs 300 crore by issuing bonds on a private placement basis.
  • Torrent Power has raised Rs 300 crore by issuing non-convertible debentures on private placement basis.

What to expect today?

  • Yesterday, the market was on such an unbelievable bull run where even bulls were surprised. NIFTY tried crossing 10,800, took resistance and closed below at 10,763. Positive global cues and the vaccine news have really generated positive sentiments in the market. But such exceptional bull runs create fear at the same time as such gains can be lost quickly, even with a slight bad news.
  • US markets closed positively. The Asian markets are mixed. SGX NIFTY, though opened at 10,815, is currently trading lower at 10,715, indicating a gap down opening in the Indian Market. 
  • NIFTY is likely to trade between 10,650 and 10,800 today. There is support at 10,700 and 10,640, and resistance at 10,800 and 10,870. 
  • Highest Call Open Interest at 11,000, followed by 10,500. Highest Put Open Interest at 10,500, followed by 10,300. ‘
  • Both FIIs and DIIs bought collectively for nearly Rs 600 crores.
  • Reliance supported the rally yesterday. I had shared in marketfeed earlier to watch Reliance for a movement above 1750 and also 1800. 100 points gained in 3 days.