News Shots

Private equity firm Carlyle Group has emerged as a probable frontrunner to acquire Mphasis from Blackstone Group, in what could be the largest buyout in the Indian IT space.

Reliance Industries has started the process of hiving off its oil-to-chemical business into a separate subsidiary aimed at inviting global investors in its energy business.

Aditya Birla Group’s metal flagship company, Hindalco expects to generate $ 1-1.2 billion cash flow per annum post its normal working capital and maintenance Capex and has come out with a capital allocation framework for growth Capex, debt reduction and for shareholders’ returns.

Bharat Forge has inked a pact with global aerospace and technology firm Paramount Group to manufacture armoured vehicles in the country.

Bharti Airtel will meet global fixed income investors on or after February 23, post which the company will take a final decision on the issuance of foreign currency bonds, subject to market conditions.

The Competition Commission of India (CCI) has approved acquisition of shares of Tata Communications NSE 1.52 % (TCL) by Panatone Finvest Ltd.

The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders.

State-run Canara Bank has sanctioned loans worth Rs 224.30 crore through three retail expos organised on Monday in the Mumbai Metropolitan Region (MMR).

Vodafone Idea announced the launch of Premium Video On Demand (PVOD) service on Vi Movies and TV App, in partnership with Hungama, as the telco looks to strengthen its OTT play.

Zomato has closed a primary fundraise of $250 million (Rs 25 crore) from five different investors. Info Edge (India) can be watched.

Zuari Agro Chemicals to sell its fertilizer plant in Goa and associated businesses to Paradeep Phosphates for an enterprise value of $280 million.

What to expect today?

NIFTY broke 15,000, 14,900 and 14750 yesterday to fall till 14,630. You can read all about yesterday’s movements here.

Bank Nifty fell 1000 points again from 36,100 to 35,100.

India VIX has moved up 15% indicating higher volatility in the market. Put options are trading with higher premiums because of this.

Dow Jones closed in the green. S&P 500 is slightly down. NASDAQ is down 2.5%! We might see the effect in our IT stocks as well. Europe saw huge sell off in the beginning but recovered majority of the losses by closing.

Asian markets are mixed. SGX NIFTY is trading higher at 14,780, indicating a gap-up opening in the Indian Market. 

If NIFTY opens above 14,750 and moves up to above 14,800, it might show strength. There is support at 14,750-14,800. Also, 50 DMA is also present there.

Talking about supports, NIFTY has supports at 14,750, 14,630, 14,500, 14450, 14390 and 14350.

With the gap up that NIFTY will be opening with, yesterday’s low (14,630) should be the level we should watch out for. That being broken can take NIFTY further down.

Highest call OI buildup is at 15,000 followed by 16,000. There are huge cal buildups at 14,800 and 14,900. Highest put OI buildup at 14,000 followed by 14,500.

NIFTY has already fallen 800 points in 5 days. We might see FII buying kicking in anytime soon.

Foreign institutional investors (FIIs) net sold shares worth Rs 893 crores, and domestic institutional investors (DIIs) net sold shares worth Rs 919 crore in the Indian equity market. Net selling by the institutions in the cash market once again, for 6 continuous days now!

HDFCBANK and KOTAKBANK did not fall yesterday. They can be watched.

NIFTY can be volatile after the gap up opening. Wait for a good direction from the index before taking positions.

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