Nifty Fut last close – 8738.80.
As said yesterday, Nifty has entered into a minor bullish phase which is yet to take a full form. Nifty closed up by 73 points, indicating a strong buying in the last hour of market. What to expect from today ?
The above is the daily chart of Nifty fut. Continue reading
As expected in the morning, Nifty futures has shown bullish tendency all along with minor intraday corrections.
Nifty Futures closed 73 points above the last close with increased volumes, confirming the bullish trend. Long positions can be held with a stop loss of closing above 8693 levels. Banking, Auto and Metals led the rally today with IT lagging behind.
Top Gainers:
Top Losers:
Advance/Decline – 38/12
Market seems to be in bullish trend for the week, caution needs to be exercised as global events await.
The Noise of News and market ticks doesn’t add much value. Trade the lines, Not HEADLINES
NiftyFut closed at 8670 yesterday, just a couple of points lower than friday. Trading activity on monday shows us a minor rally is in place,
One can go long on Nifty above 8698, with a stop loss of 8640 and immediate support at 8663 levels. Caution needs to be exercised if trading options, as the activity indicates a lackluster week ahead. Nearest targets are 8780 – 8813 and probable resistance can be found at 8904.
Global Updates:
SGX Nifty – 8712 (+42).
DJI – 17997.42 (+228.11)
Nikkei – 19403.22 (+157.16)
Stocks to watch for
ITC, YESBANK, ICICIBank, AxisBank.
watch this space for more updates during the market.
Mumbai: The board of Financial Technologies India Ltd (FTIL) has passed a resolution to oppose a petition by the ministry of corporate affairs (MCA) to the Company Law Board (CLB) that seeks to remove and supersede the board of the company.
In a notice to the exchanges on Monday morning, FTIL said that a resolution was passed on Sunday in which the board of directors said that the move is a “clear attempt by the MCA to render ineffective and, in fact, defeat FIL’s challenge and opposition to the proposed amalgamation of NSEL (National Spot Exchange Ltd) with FTIL.” Continue reading
Good governance
– Need to cut subsidy leakages, not subsidies themselves. To achieve this, Government
committed to the process of rationalizing subsidies.
– Direct Transfer of Benefits to be extended further with a view to increase the number
of beneficiaries from 1 crore to 10.3 crore.
Agriculture
– Major steps take to address the two major factors critical to agricultural production,
that of soil and water. Continue reading
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