SGX Nifty Indicates a flat opening to Nifty.
IT Stocks and Realty stocks keep the Nifty stay with bulls fighting against Bank Nifty which was down Yesterday.
Technically Nifty had formed a Spinning top like a candle and indicated weakness ahead. But the Lower levels have strongly purchased indicating the power and faith of Bulls.
Being US Markets closed for Monday, Local cues will be dominating the market today. Even though overall global cues are neutral.
17,350 becomes Key level to watch for, sustain above 17,350 would show some more bull run. 17,280 will be the next support. As we discussed yesterday 17,420-17,430 will be the key resistance zone.
Auto stocks indicated a reversal Signal and can add to the watchlist for the coming days, We had discussed the Reliance move in the last day's Premarket Report.
26 of the 50 Nifty stocks were closed in Red. FIIs were net sellers after a week of buying, with a net sell value of 589cr, and DIIs were net buyers of 547.3 Cr
Expecting Nifty to consolidate because of Neutral Trends in Global cues.
Stocks in News:
Aviation Stocks : Air Traffic increased by 31 % In August Month.
Tex Rail & Titagarh Wagons : Report says Railway Issued new tender of Rs 2700 cr to Produce 8000 new wagons.
BPCL :Fitch Ratings said uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays in privatisation of BPCL.
Edelweiss: Co Says Public Issue Of Non-Convertible Debentures is Oversubscribed
Panacea Biotec: Supplies 1st Shipment Of The Second Component Of Sputnik V Vaccine Produced In India
Cochin Shipyard: Has emerged as the lowest bidder in the 6-vessel tender from the Indian Navy for the next generation missile vessels worth about Rs 10,000 crore.
Bharti Airtel : Macquarie adds Bharti Airtel to its ‘Marquee Long List’, has an OUTPERFORM call on the stock with target at Rs 867/s.
