News Shots
Wipro appointed Anis Chenchah as CEO, Asia Pacific, India, Middle East, and Africa region after N S Bala decided to move back to the US for personal reasons.
Tata Motors’ Jaguar Land Rover’s retail sales in Q4 continue to be hit by the global semiconductor shortage, but the company saw a gradual improvement in chip supply.
RBI imposed a monetary penalty of Rs 90 lakh on IDBI Bank for non-compliance with guidelines on fraud classification and reporting, strengthening the controls of payment ecosystem and cyber security framework.
RBI imposed a penalty of Rs 93 lakh on Axis Bank for non-compliance with RBI guidelines on loans and advances, know your customer, and levy of penal charges on non-maintenance of minimum balance in savings accounts.
Housing Development Finance Corp. sold 49.63 million shares of Bandhan Bank and Society General bought 19.08 million shares: BSE
Results: TCS, Delta Corp, Kesoram Industries
What to expect?
NIFTY opened with a gap-up at 17,706 on Friday and fell. But there was an up-move following the status quo in the RBI monetary policy. There was another breakout in the second half and NIFTY closed the day at 17,784, up 145 points or 0.82%.
BANK NIFTY opened flat at 37,643 and was wild. The up-move was quick in the beginning but slowed down later. Still, BNF managed to close higher at 37752, up by 195 points or 0.52%.
FMCG moved higher.
The US markets were mixed, weighed down by the IT sector. The European markets closed well in the green.
The Asian markets are down. The U.S. Futures and the European futures are trading lower.
SGX NIFTY is trading at 17,775. All the factors indicate a gap-down opening.
NIFTY has supports at 17,640, 17,600, 17,550 and 17,470. We can expect resistances at 17,860, 17,900 and 18,000.
BANK NIFTY has supports at 37,700, 37,450 and 37,150. Resistances are at 37,900, 38,250 and 38,650.
NIFTY has the highest call OI build-up at 18,500 followed by 18,000. The highest put OI build-up is at 17,000 followed by 17,700.
BANK NIFTY has the highest call OI build-up at 38,000 and the largest put OI build-up is at 37,500.
INDIA VIX is at 17.7.
Foreign Institutional Investors net sold shares worth Rs 575 crores. Domestic Institutional Investors net sold shares worth Rs 17 crores.
RBI maintained the accommodative stance and status quo in the interest rates. The inflation forecast was revised from 4.5% to 5.7%. Gdp forecast was brought down from 7.8% to 7.2%. This led to the up-move on Friday.
There is negativity in the global markets now with the Asian markets trading lower after Chinese inflation data were out. Consumer price inflation rose by 1.5% YoY against the expectation of a 1.2% rise. Producer price inflation was expected to grow at 7.9% but the data came out at 8.3%.
NIFTY is near 17,780 now. This is a major level as you can notice a swing point on 2nd February from where NIFTY fell by more than 2,000 points.
The OI in BNF is interesting with large build-ups at close strikes: 37,500 and 38,000.
We have TCS results today. Expectations are moderate as there has been sequential growth in the last two quarters.
Let us closely watch 17,600 on the downside.
Follow us on the marketfeed app’s Live Feed section to get real-time updates from the market. All the best for the day!
