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Nifty View:
Wednesday prior to Monthly expiry Nifty is assumed to be much volatile, so positions should be taken with care. For the last few months, Wednesdays are witnessing huge volatility.
Tuesday Nifty had formed a Bullish candle on daily basis. Also, a Broader rally with the support of major sectors was shown, 35 of the Nifty 50 stocks closed in green, so we can still be placed on the bull side.
SGX Nifty Indicates a gap-up opening, watch for profit booking at 16,700 levels.
Breaking the 16,580-16,600 levels had given a bull momentum to Nifty as we discussed yesterday. Tomorrow watch for how Nifty is Managing to maintain the upper side.
16,700 is a major resistance to watch for, 16,580-16,600 is the spot support for Nifty. Followed by 16,530 and 16,400.
Global cues are positive, US Markets closed at a record high. Increase in Commodity price has favored the steel and other metal stocks to do well.
After few days fall on Smallcap and Midcap Tuesday showed some reversal signals. Watch for how they are performing on Wednesday for entries.
FIIs still continue with their sell mode, while DIIs are still on the buy-side which extends the hope for more upper side.
Stocks In News:
Bharti Airtel: AGR | Relief for Bharti Airtel Supreme Court asks DoT_India to not encash bank guarantees for 3 weeks. SC allows BhartiAirtel to move TDSAT against DoT's demand to pay Videocon's AGR dues.
ICICI BANK: RBI approves the re-appointment of Sandeep Bakhshi as Managing Director & CEO of ICICIBank with effect from October 15, 2021, till October 3, 2023.
Infra Stocks: Road Transport Minister Gadkari chairs the Infrastructure committee meeting. Discussions were held on issues related to outstanding forest clearances regarding highways, other infra projects. Railways, road min discussed on making comprehensive guidelines for the environment, forest clearance
PSU Bank : FM To Meet CEOs of PSBs to review financial performance Tomorrow.
Wipro: The company has been awarded a strategic multi-year contract to partner with E.ON in its digital transformation journey in the financial area. Besides, it said it will open a new delivery centre in Sherwood, Arkansas.
Tata Steel: Brickwork Ratings upgrades the ratings for the unsecured Non-Convertible Debentures/Bond Issues aggregating Rs 4,000 crore of the company from BWR AA/Stable to BWR AA+/Stable.
Adani Ports & SEZ: Company's proposal to acquire 10.4% stake for Rs 644.78 crore of Gangavaram Port Ltd. from the Andhra Pradesh government has received approval from the state's maritime board.
NHPC: PFC Signed An MoU With NTPC To Lend Funds For The Development Of Hydro Projects, PFC Will Also Provide Financial Assistance For The Acquisition Of Stressed Projects
Canara Bank: Billionaire investor Rakesh Jhunjhunwala has bought 1.59% stake, according to updated shareholding statement released by the state-run lender.
L&T Technology Services: Reimagines Security Infrastructure With Microsoft
ICICI Bank: The Reserve Bank of India has approved reappointment of Sandeep Bakhshi as Managing Director and CEO from Oct. 15, 2021 to Oct. 3, 2023.
Wipro: To open a new delivery center in Sherwood, Arkansas. The company will invest approximately $3 million to transform a 70,000 square-foot facility at Landers Road into a customer service center.
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