Rain Industries and LT Foods have announced a good result with a jump in profits. HeidelbergCement has also announced a marginally good result
Pidilite Industries completed acquisition of 70% equity shares of Tenax India Stone Products
Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Jio, according to reports #thisisgettingoutofhands #supercrazy
The government removed restrictions on the export of paracetamol APIs (active pharmaceutical ingredients). This should be a boost to the pharma sector
Google in plans of acquiring 5% of Vodafone Idea. This would be a major lifeline for the falling telco.
ITC has partnered with Amway to explore the direct selling route for its “B Natural” range of fruit juices
What to expect today?
US-China tensions are only increasing with time. This is a major concern for markets all over the globe.
US and Asian markets mostly closed in the red yesterday. SGX NIFTY is also trading lower, indicating a weak opening for the Indian markets.
Yesterday, NIFTY tested and crossed the resistance of 9430 and closed near 9500. It was another easy day in the market yesterday to take directional calls on Indices.
Major short covering has happened in BANK NIFTY and bank stocks have reached back to sane levels. These were easy trade opportunities, had you been following this daily.
NIFTY likely to trade between 9350 and 9500 today. There is a support at 9380 and a resistance at 9550. A break out in both the sides could cause major moves.
Closing above 9500 can be a very positive sign for the market, as we are also expecting lifting of the lockdown in June
Maximum Call Open Interest at 9500 and maximum Put Open Interest at 9000. Both of these remain unchanged. But interestingly second most Call Open Interest is at 9600 and maximum Put Open Interest at 9400, indicating the market becoming optimistic
Dabur has announced a weak Q4 result with a 14% declined profit, which is lower than estimated
India Ratings downgraded the rating of Vedanta Ltd to AA- with a negative outlook
Ujjivan Financial Services has reported a nearly 80 percent jump in its consolidated net profit in the March 2020 quarter.
Rumours of Microsoft investing Rs 15,000 crores in Reliance Jio #crazy
Aditya Birla Fashion & Retail has reported huge losses! Also, they plan a Rs 1,000 crore rights issue, which will be fully subscribed to by the promoters/promoter group, in order to reduce debt and fuel growth
NTPC Limited to foray into power distribution by buying 51% stake in BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL), the Delhi Distribution Business of Reliance Infrastructure Ltd
Biocon subsidiary Biocon Biologics has received approval from the Drugs Controller General of India (DCGI) for the use of extracorporeal blood purification (EBP) device CytoSorb in the treatment of COVID-19 patients.
What to expect today?
Great day in the global market yesterday. US, Europe and Asian markets have closed marginally higher. SGX NIFTY is also trading higher, indicating a positive opening for the Indian markets.
Yesterday, NIFTY tested 9000 again and then went on a rally, crossed 9200 and closed above 9300. I’d like to recollect that we had discussed the possibilities of this in yesterday’s feed. Hope you have traded accordingly to your advantage.
Similarly we had been expecting short covering in Bank Stocks for a few days. It finally happened yesterday. BANK NIFTY outperformed NIFTY again.
NIFTY likely to trade between 9200 and 9450 today. There is a support at 9100 and a resistance at 9430
It’ll be a good sign for the market if NIFTY could maintain the current levels and close above 9300
Maximum Call Open Interest at 9500 and maximum Put Open Interest at 9000
Kotak Mahindra Bank launches Rs 7100 Crores QIP, considering 5% discount to market price. (Qualified institutional placement (QIP) is a capital-raising tool, whereby a listed company can issue equity shares, fully and partly convertible debentures, or any securities other than warrants which are convertible to equity shares to a qualified institutional buyer (QIB).)
Mukesh Ambani is planning an overseas IPO for Jio Platforms Ltd
Torrent Pharmaceuticals has reported a good Q4 result with a consolidated net profit of Rs 314 crore.
Vedanta seeks shareholders’ approval for delisting. E-Voting until June 24
Infosys has made a strategic partnership with Swiss-based Avaloq, a Wealth Management Software Provider
Tata Motors to raise Rs 1000 crores through Non-Convertible Debentures (NCB) (Non–convertible debentures(NCDs) are a financial instrument that is used by companies to raise long-term capital. NCDs are a debt instrument with a fixed tenure and people who invest in these receive regular interest at a certain rate)
India staring at worst recession since Independence: Crisil
What to expect today?
Global cues are positive. SGX NIFTY is also trading higher, all indicating a positive opening for NIFTY today
NIFTY likely to trade within 9000 and 9200. Crossing 9200 can give a good breakout. Expecting to see that some time this week.
BANK NIFTY and Bank Stocks in particular are hugely over-sold. The RBI announcement on Friday worsened the situation. Still, a short covering is expected very soon
The automobile sector has witnessed increased demand since the relaxation of lockdown. All major companies have reported a surge in sales, as people prefer to stay away from public transport
RITES to acquire 24 percent stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore
Birla Corporation and Honeywell Automation have reported increased profits in Q4
HDFC reported a 22% drop in net profit to Rs 2,233 crore in its Q4 result, attributed to absence of any dividend from HDFC Bank. RBI had advised banks to conserve capital and avoid dividend
Reliance has launched JioMart Online Grocery service in more than 200 cities
Bharti Airtel promoters to sell $1 billion worth of shares, in order to reduce debts
ITC to acquire packaged spice maker, Sunrise Foods Private Limited, to strengthen its FMCG business
What to expect today?
Global cues are positive. SGX NIFTY is also trading higher, all indicating a positive opening for NIFTY today
NIFTY likely to trade within 9000 and 9200. Crossing 9200 can give a good breakout. Expecting to see that some time this week.
BANK NIFTY and Bank Stocks in particular are hugely over-sold. The RBI announcement on Friday worsened the situation. Still, a short covering is expected very soon
KKR, a VC fund to invest Rs 11,367 crore in Reliance Jio for 2.32% stake
RBI Governor Shaktikanta Das to hold a press conference at 10 AM today. Expected to announce extension for loan moratoriums.
LIC has hiked their stake in Hero MotoCorp by 2 percentage
Bajaj Holdings Q4 results: Net profit declines 54% to Rs 361 crore
ITC surged 7.5% yesterday, based on restart of cigarette factories
Amazon Launches Food Delivery Service In India. Info Edge (India) Limited, with 22% ownership in Zomato may take a hit
Global cues are negative. American markets closed in red, so did the Asian markets. SGX NIFTY is slightly down. Indian market is likely to open lower
NIFTY expected to trade between 9000 and 9200 today. Interesting to see if any of these are broken. Monday is a trading holiday, on account of Eid-ul-Fitr
Public sector banks outperformed private banks yesterday. Auto and FMCG secotrs continue to do well
UltraTech Cement and Bajaj Auto have announced better results than expected, with increased profits. Auto sector is attracting retail investor attention. Jubilant Foodworks announced very bad results, but it was expected
Rating agency ICRA warns of a deep recession in India
Finance Minister announced that there will be no cut in income tax rates and no more packages for supporting the economy.
Airline stocks will be in focus after news that flight operations will resume in a calibrated manner from 25 May.
News of Reliance raising another round of funds. Strengthening its digital arm with telemedicine services.
Global cues are positive. American markets closed in green, hitting multi month highs. SGX NIFTY is slightly down, mostly attributed to our Finance Minister announcing there are no more economic packages from the Govt.
NIFTY found support at 8900 range yesterday. Expected to trade between 8900 and 9100 today. Interesting to see of 9100 would be crossed and sustained. Volatility is expected like the previous days.
Private banks witnessed short coverings and finally moved up. Public sector banks are still suffering. Auto and pharma continue to do well.
Reliance rights issue to start today. It has announced to use 3/4th of the rights issue to repay debt and be debt free by March 31,2021
Bajaj Finance announced their results yesterday. Profits are down 20% but the result is better an expected. Stock is near 52 wks low
Railways to run 200 Non AC trains from June 1
Maruti Suzuki sells 5000 cars just after relaxation in the lockdown. Has said there is an increase in bookings and deliveries
Ujjivan Small Finance Bank and Tata Power has announced good results.
Healthcare Global Enterprises and Equitas Holding have raised further foreign funds.
Global cues are neutral. American markets closed in red. SGX NIFTY closed in green, indicating a positive opening for NIFTY. But the selling pressure seems to be so high in our market that NIFTY keeps falling inspite of anything.
NIFTY seems to have a support at 8800 range. Expected to trade between 8800 and 9100 today, just like yesterday. Breaking the support of 8800 might cause further break down. Volatility is expected like the previous days.
Banks are falling heavily, majorly PSU banks. FMCG and Auto Sectors helped the market
Vedanta Ltd’s board approves proposed de-listing from BSE, NSE. The next step is to seek shareholders’ approval for the de-listing proposal through postal ballot and e-voting
Bharti Airtel’s loss has increased 400% to Rs 5,237 crore in the last quarter. However, revenue has increased
TATA Consumer Products has made a strategic acquisition. Healthcare Global Enterprises and AU Small Finance Bank have received large foreign investor funding
FIIs and DIIs sold shares worth Rs 2,512.82 crore and Rs 152.42 crore, respectively, in the Indian equity market. Maximum Call Open Interest (OI) has shifted to 9000 and second most Put OI is at 8500. This can be the range for NIFTY in May
NIFTY fell heavily yesterday despite of positive global cues. Shows clear indication of how the market has rejected the Economic Package.
The entire global market closed high yesterday, thanks to a news regarding a Corona vaccine. SGX NIFTY closed 2.28% higher. Crude prices have also increased.
NIFTY seems to have a support at 8800 range. Expected to trade between 8800 and 9100 today.
All major banks had fallen yesterday as well. Short coverings and thus, at least a retracement should happen soon.
Reliance has raised another round of Private Equity funds. General Atlantic to invest Rs 6,598.38 crore in Jio Platforms.
Vedanta Ltd.’s board of directors will meet today to consider the delisting proposal
L&T Technology has reported increased profits in their Q4 results
FII sold Rs 2388 crores and DII sold Rs 1,225.53 crore in the Indian equity market on May 15. Clearly, the economic package was not appreciated
Maximum call open interest (OI) at 9,500 strike price. Maximum put open interest at 9,000 strike price. Clearly 9000 – 9500 should be the trading range for NIFTY
US and Asian markets had closed higher on Friday. SGX NIFTY down by 50 points
NIFTY expected to move between 9000 and 9250
NIFTY seems to have a support at 9000 range. Might break eventually. Watch carefully. Likewise, 18000 is a strong support range for BANKNIFTY
US-China trade tensions, increasing COVID-19 cases and an uninspiring economic package have negative impacts on the market
All major banks had fallen heavily last week. It will be interesting to watch for short coverings.
