News Shots
Aditya Birla Capital said on exchanges that the firm has received a whistleblower complaint where allegations were made against Aditya Birla Sun Life and employees. The firm said an independent committee investigating the complaint did not find any merit in any allegations.
IRB Infrastructure on exchanges said its April gross toll collections stood at Rs 327 crore versus Rs 306.66 crore in March. The gross toll collection in April last year was at Rs 196.64 crore. The firm said on April 21 the toll collection was suspended on account of farmers’ agitation.
KEC International won orders worth Rs 1,150 crore across its various businesses. The company said the diverse orders in the Civil business, further strengthen its portfolio diversification and reaffirm the company’s confidence in the continued strong growth of this business going forward.
SJVN Ltd will develop another hydro power project Arun-4 worth Rs 4,900 crore in Nepal. A Memorandum of Understanding (MoU) for the development of the 490 MW Arun-4 hydro electric project in Nepal has been signed in Lumbini, Nepal in the presence of Prime Minister Narendra Modi and Prime Minister of Nepal Sher Bahadur Deuba, the company said in a statement.
VIP Industries said it reported a profit of Rs 12 crore in the March quarter from a loss of Rs 4 crore a year ago. Revenue for the quarter stood at Rs 356 crore versus Rs 243 crore last year. EBITDA was at Rs 33 crore against Rs 3 crore.
What to Expect?
NIFTY opened with a gap-up at 15,853. The market was volatile but the day ended with a Doji candle. The index faced resistance at around 15,950. NIFTY closed the day at 15,842, up by 60 points or 0.38%.
BANK NIFTY opened with a gap-up at 33,264 and exhibited strength. 33,800 acted as resistance but the index managed to close the day at 33,598, up by 476 points or 1.44%.
AUTO moved up by 2.27%.
The US markets were mixed with Dow closing flat and NASDAQ closing lower. The European markets also were mixed with DAX down and FTSE closing higher.
The Asian markets are trading higher. The U.S. Futures and the European futures are trading in the green.
SGX NIFTY is trading at 15,880 indicating a gap-up opening.
NIFTY has supports at 15,740, 15,670 and 15,600. We can expect resistances at 15,860, 15,900 and 16,000.
BANK NIFTY has supports at 33,000, 32,850 and 32,200. Resistances are at 33,450, 33,900 and 34,000.
NIFTY has the highest call OI build-up at 17,000 followed by 16,500. The highest put OI build-up is at 15,000 followed by 15,800.
BANK NIFTY has the highest call OI build-up at 35,000 and the largest put OI build-up is at 33,000.
INDIA VIX is at 24.5.
Foreign Institutional Investors net sold shares worth Rs 1,800 crores. Domestic Institutional Investors net bought shares worth Rs 1,400 crores.
Chinese economic data on Industrial output and retail sales data were much worse than expected and this led to the fall in the Asian markets which were trading much higher yesterday. This dampened the sentiments but there was a quick bounce from the previous day-low. A good up-move followed. There have been similar patterns formed in Nifty and BNF if you have observed carefully.
There are speculations on Putin’s health and coup in Russia. Let us leave this as rumours but keep in mind that these can have adverse impacts on the market.
LIC will start trading today. I am sure that the lucky ones who have got the IPO allotted will be excited to see how the stock opens and moves.
The day-candle is almost a Doji, hinting at uncertainty prevailing in the market. Keep an eye on Bharti Airtel that will announce results today.
I will be watching 15,750 on the downside and 15,900 on the upside.
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