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Nifty View:
SGX Nifty Indicates a Negative opening for Nifty.
Global Market is Mixed. Last day Nifty had given a beautiful rally. Also, we had written about the rally in Pre Market Report.
43 of the 50 Nifty stocks were closed in green. FIIs were net buyers of 1202cr and DIIs continued their buy position with a net buy value of 688Cr.
17,000 levels will be important resistance to watch for. Profit Booking may kick in at 17,000 levels. FIIs with a buy mode will trigger the move to 17,100 followed by 17,200.
16,820 is the major support for Nifty followed by 16,700.
Aggressive trades are not recommended at these levels, as Nifty is at All-time High.
Stocks in News:
Tata Power Co. and Adani Power Ltd. to sell power on exchange for one month, according to an Economic Times report.
Jindal Steel & Power: Board has approved a plan to raise up to $1 billion by selling bonds denominated in foreign currency or rupee in one or more tranches
SANDHAR TECH: Clarifies There is no such development or negotiations with reference to the supply of components to Tesla Inc for their Indian Business from the Company’s Indian manufacturing plants.
Bharat Forge: Says report on Tesla talks incorrectly
Bharti Airtel: To take 'baby steps to raise tariffs, Mittal says
L&T: The company has completed the sale of its entire stake in L&T Uttaranchal Hydropower to ReNew Power Services.
Ril Ind : Reliance Industries is close to acquiring REC Group, the largest solar panel manufacturer in Europe, for $1-1.2 billion from China National Chemical Corp, according to sources.
