Domestic Market View
Nifty : Yesterday Nifty closed below 11500, but respected the trend line support of 11470, Now as per Asian market which already in heavy gains due to rate cut hope by US Fed chairman Jerome Powell, expect Nifty to open gap up up-to 35-45 points. Nifty support near 11470, Resistance at 11575-11630. Overall expect it to be in Range of 11470-11630. Heavy Resistance is there at 11630 levels a close above this then 11750 will be there, and in lower side 11470 good support, if closes below that then 11350 will be there. Today weekly expiry of Nifty and Bank nifty.
FII on continuous basis sold shares worth Rs 604 crore, and DII Bought shares worth Rs 667 Crore. VIX at 13.64. Jump in crude also a negative factor for us, Govt. clarified on FPI surcharge and said there will be no rollback of such surcharge and this is very small, if you want to avoid surcharge then opt for category structure.
Bank Nifty : Support 30450-350 & Resistance 30675-830. Overall Bank Nifty in Symmetrical Triangle formation but time frame of that formation is very small.
Don’t forget to Read about Ajanta Pharma. Why it can drop to 700-600. A must read for those who wants to check what’s all happening in Core Pharma Sector. Link – Ajanta Pharma
Global Market View
US Index Hit All time high Because of Rate cut hope Comment from Fed Chairman “Jerome Powell”, Brent oil jumped by 3% to $66, gold also jumped by $20 to $1425. Asian Peers ended in mixed. European ended Flat to negative.
Stocks in News
- Cox & Kings : Again Defaulted on NCD Payment.
- SEBI to start Investigation on Governance Issues of Indigo.
- Today’s Result : CCL Products & Den Networks.
- DHFL to submit Resolution plan.
- Govt. is planning to raise upto 10k crore from sixth Tranche of CPSE ETF.
- FNO Ban : DHFL & Reliance Capital.
- EX-Dividend Today : Amaraja Batteries Rs 7, Bajaj Auto Rs 60, Bajaj Finance Rs 6, Bajaj Finserv Rs 2.5, Bajaj Holding Rs 32.5, Escorts Rs 2.5, Mphasis Rs 27, Persistent Systems Rs 11, Larsen & Toubro Infotech Rs 28, Swaraj Engines Rs 25, Wendt India Limited Rs 30.
Change in Circuit Limits
| Sr. No. | Scrip Code | Scrip Name | Price Band % Revised to |
| 1 | 500240 | Kinetic Engineering Ltd | 10 |
| 2 | 532871 | Celestial Biolabs Ltd | 10 |
| 3 | 532051 | Swelect Energy Systems Ltd | 5 |
| 4 | 531512 | Orient Tradelink Ltd | 2 |
| 5 | 538465 | Amarnath Securities Ltd | 2 |
Stocks for Buying
No New Stock Buying, One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.
8:00 AM : SGX Nifty up by 50 Points, Asian peers up by 1-1.5%, Good recovery in Asian Market, US Futures in positive sides, Brent at $67, Gold at $1424.
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