News Shots

  • After Bharat Biotech’s Covaxin, another potential COVID-19 vaccine developed by Zydus Cadila Healthcare Ltd got the nod from the Drugs Controller General of India (DCGI) on Thursday for human clinical trials of Covid-19.
  • HDFC Ltd plans to raise up to Rs 1.25 lakh crore in a year by issuing debt securities through various modes, according to its annual report for 2019-20.
  • Axis Bank to raise Rs 15,000 crore via share sale. The share price slipped 2% after the news came out.
  • Intel Corp will invest Rs 1,894.5 crore in Jio Platforms in exchange for a 0.39 percent stake, the latest big-ticket investment in the digital unit of Reliance Industries (RIL).
  • Cipla would be providing its own Remdesivir drug in the market from Saturday, at a lower price than the only existing competition.
  • Affle India to acquire 8 per cent stake in Singapore-headquartered OSLabs, which operates independent indigenous apps store Indus OS, for around Rs 21.4 crore.
  • Private Equity investment firm KKR & Co. Inc. to acquire about 54% stake in Mumbai based drug manufacturer JB Chemicals and Pharmaceuticals for nearly Rs 3500 crores. KKR will acquire the stake at a price of Rs.745/share, a premium of 4% to the closing price of Rs.715. 
  • HDFC Life to replace the delisted Vedanta Ltd in NIFTY 50 by July 31.
  • Motherson Sumi Systems said it has approved a group reorganization plan with the objective of creating value for the shareholders.
  • Maruti Suzuki launched its vehicle lease subscription service for individual customers under ‘Maruti Suzuki Subscribe’ brand. This can be a revolutionary move.

What to expect today?

  • Yesterday, NIFTY was on an exceptional bull run creating a new high after the COVID 19 outbreak. Resistances of 500 and 545 were broken with ease and NIFTY closed just above 10,550.
  • The US released the latest jobs data which said nearly 5 millions jobs have been added, which is extremely positive and much above the expectations of 3 million. Unemployment has fallen to 11%. The entire global markets have gone up after this.
  • The global markets are on a highly positive note. NASDAQ had crossed 10,300 and created an all time high. SGX NIFTY is currently trading higher at 10,594, indicating a gap up opening in the Indian Market. 
  • NIFTY is likely to trade between 10,500 and 10,700 today. There is support at 10,500 and 10,450, and resistance at 10,600 and 10,650. 
  • The market moving up definitely is a sign the stock markets around the world are positive and optimistic. However, since we have seen such quick moves in NIFTY to current levels, we might see profit booking anytime which might cause a retracement.
  • Highest Call Open Interest at 11,000, followed by 10,500. Highest Put Open Interest at 10,200, followed by 10,500. Please note the huge shift in OI towards a higher range.
  • FIIs ended as net sellers, selling nearly Rs 500 crores. DIIs bought for nearly Rs 1000 crores.
  • IT and Auto led the rally yesterday. 
  • I had clearly mentioned to watch Reliance above 1750 for a buying opportunity in yesterday’s feed. Reliance crossed 1750 and 1766. Hope you utilized the opportunity.