News Shots

6 new positive COVID cases with the new strain have been reported in India. The new strain has also arrived in Colorado, reportedly the first time it’s been identified in the U.S.

Future Consumer and Future Enterprises have started getting large orders from Reliance Industries, CEO Kishore Biyani said in an email to his employees.

New Delhi Television Ltd (NDTV) said it will appeal against market regulator SEBI’s fine of Rs 5 crore on the company for failure to disclose price-sensitive information about certain loan deals.

Promoters of Vedanta Ltd have pledged their entire stake of 55.11% equity with OCM Verde Investment in order to fund Vedanta Resources’ outstanding debt of $900 million(~Rs 6,500 crore). It will also be used for acquisition of up to 11.5% shares in Vedanta Ltd by the promoter group, Vedanta Mauritius.

Whirlpool of India is looking to use its innovations around sanitisation for its washing machines category in 2021 to fulfill the needs of new consumers brought by the pandemic, according to a senior company official.

Indian Railways has awarded the regular supplier status to steelmaker Jindal Steel & power limited (JSPL) to supply 60kg 880 grade (90UTS) Rails.

Reliance Jio and chipset designer MediaTek have partnered to launch a 70-day esports tournament for gaming enthusiasts in India.

Dhanlaxmi Bank has proposed Shivan JK as its new Managing Director and Chief Executive Officer (CEO) and has sought shareholders’ approval for the same. Shivan retired as the Chief General Manager of State Bank of India and handled various roles, including forex operations.

Jindal Stainless (Hisar)’s board has approved the company’s merger into the country’s largest stainless steel maker Jindal Stainless Ltd (JSL).

NLC India has issued and allotted 10,000 Commercial Papers(CP) of face value of Rs 5 lakh each, aggregating to an amount of Rs 500 crore.

What to expect today?

Yesterday, as expected, volatility hit us hard. There was a 100 points intraday fall but the market closed higher than the previous day. 13,900 was jumped over and NIFTY closed at 13,932. You can read all about yesterday’s movements here.

Bank Nifty was more bullish than NIFTY crossing the resistance at 31,000. Technically, Bank Nifty and major private bank stocks look very bullish now.

The US markets fell together after a long time. FTSE in the UK, reopening after Christmas, moved up. Other European Indices closed nearly flat. Interestingly, asian markets are mostly up. SGX NIFTY is trading higher at 13,994, which is nearly 50 points higher, indicating a gap up opening in the Indian Market. 

NIFTY may open with a gap up and may even test 14,000 today but profit booking might kick in after that. Please be cautious today as well. There might be a fall after NIFTY tests 14,000.

6 new positive COVID cases with the new strain have been reported in India. There are sources saying that the Oxford-Astrazenca vaccine is effective against the new strain.

The most impactful positive news of this week was the Astrazeneca vaccine to get approved in India this week itself or in the coming week. But, sources have reported that the approval may get delayed indefinitely.

Highest Call Open Interest at 14,000, followed by 14,300. Highest Put Open Interest at 13,000, followed by 13,500. 

Foreign institutional investors (FIIs) net bought shares worth Rs 2349 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 2010 crore in the Indian equity market.

Banks are looking absolutely bullish, still more than 1000 points away from their all time high. Watch out for 31,000 as that can act as a strong support going ahead. Reliance is dragging NIFTY down.

2 more days to the end of the year. It’s going to be interesting to see if NIFTY would close above or below 14,000 at the end of the year. Please let me know your thoughts in the comment section below.

Also, NIFTY has been on the rise creating green candles for 5 successive days now. Statistically, will we see a red candle today?

Watch out for volatility today also. Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!