News Shots
Infosys has reappointed Salil Parekh as CEO and MD for a period of five years.
UPL completed buyback of 1.33 crore equity shares at Rs 813.92 apiece aggregating to Rs 1,093.73 crore, representing 99.43% of maximum buyback size.
Jet Airways has been re-issued air operator certificate by Directorate General of Civil Aviation for commerce.
Zydus Lifesciences promoters may participate in the buyback of 1.15 crore shares representing 1.13% of total equity shares at price of Rs 650.
Major Earnings today: Steel Authority of India, Zomato, Bharat Electronics, Divi’s Laboratories
What to Expect?
NIFTY opened with a gap-up at 16,045 and moved up. There was positivity from the Chinese markets but resistance at 16,200 pushed the markets lower. However, the index moved up towards the end and closed at 16,266, up by 457 points or 2.89%.
BANK NIFTY opened with a gap-up at 33,685 . 34,000 resisted the move but the index could move higher in the second half as well. BNF finally closed the day at 34,276, up by 961 points or 2.88%.
METALS moved up by 4%.
The US markets closed flat on Friday. The European markets closed in the green.
The Asian markets are mixed with Nikkei trading higher. The U.S. Futures and the European futures are trading in the green.
SGX NIFTY is trading at 16,241 indicating a flat opening.
NIFTY has supports at 16,185, 16,100, 16,000.. We can expect resistances at 16,340, 16,410, 16,485, 16,600.
BANK NIFTY has supports at 34,000, 33,700, 33,400. Resistances are at 34,440, 34,700, 35,000 and 35,200.
NIFTY has the highest call OI build-up at 17,000 followed by 16,800. The highest put OI build-up is at 16,000 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 34,000.
INDIA VIX is at 22.3.
Foreign Institutional Investors net sold shares worth Rs 1,300 crores. Domestic Institutional Investors net bought shares worth Rs 2,200 crores.
There was not much decay happening on the put side despite the rally on Friday. But there was a huge overnight decay. This observation should be kept in mind if you are an option seller.
There are reports that the US would overtake China in growth for the first time since 1976. US is expected to post 2.8% growth whereas China’s growth would be 2% only.
Reliance shot up and it was a phenomenal rally in the last 30 minutes. Let us closely watch the stock.
The fuel prices have been reduced to control inflation. But the impact on the markets will not be significant as the crude oil prices are still climbing the highs.
I will be watching 16,400 on the upside and 16,200 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!