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Editor's Stock Picks
Nifty View:
Yesterday's Pre Market Report we had clearly mentioned the 16,580 levels as the resistance range for Nifty. It had been tested many times.
Today we could expect a consolidation between 16,480- 16,580 levels. Only breaking of this range can bring a sustainable move towards either side.
Technically Nifty seems to be Bullish with RSI Indicating a slightly Overbought range In the Market.
Profit Booking may trigger at every height.
The global market trend is mixed so watch for Stock specific actions, as yesterday Reliance leading from the front.
Still Bank Nifty is underperforming Nifty. If Bank Nifty comes in play and supports Nifty, the upper levels are yet to come.
Stocks in News:
Finance Minister Nirmala Sitharaman on Monday ruled out a cut in excise duty on petrol and diesel to ease rates that have touched all-time highs, saying payments in lieu of past subsidized fuel prices pose limitations.
Infosys: The company has agreed to invest an additional sum of $0.45 million in TidalScale Inc. Earlier, the company had invested $1.5 million in 2016 and $1.5 million in 2018. Further, it bought back shares worth Rs 3.77 crore on August 16.
Mahindra, Steel Authority of India, Bayer CropScience: Indian government gives drone use permission to 10 organizations.
Hero MotoCorp: The two-wheeler market leader said it retailed over one lakh units on a single day on its 10th anniversary last week.
Bandhan Bank: Assam Govt Extends Relief on MFI Loan by extending the time limit.
Ace & Sanghvi Movers: Coal India To buy Rs 9000 crore worth Equipment from these companies in Fy 22.
Voda idea: Company Says 5 g trial going on in a Better Way. Also says Raised prices from last few months
