Equity Big Shot- Indian Market View, Vol 127

Settlement Price

Nifty: 14529.15 (-3.76%)

Bank Nifty: 34803.10 (-4.78%)

USDINR: 73.7880 (+1.76%)

FII Data (Approx.)

Institution/Daily Net Position/Monthly Net Position (Derivatives, In Crores...)

FII (-8295 cr) (+42044 cr)

DII (-1499 cr) (-16358cr)

Stocks in the news

Indian Oil Corporation: The company will invest Rs 32,946 crore to expand Panipat refinery capacity to 25 million tonne per year from 15 million tonne per year earlier.

BL Kashyap and Sons: Acacia II Partners LP & Others reduced stake in the company to 2.47% from 4.91% earlier.

Affle (India): The company at its board meeting approved the fundraising of upto Rs 1,080 crore.

Equitas Holdings: Investor CDC Group PLC reduced stake in the company to 5.23% from 7.84% via open market sale.

Tata Chemicals: The company appointed Nandakumar S Tirumalai as the Chief Financial Officer after John Mulhall was elevated to Managing Director & CEO of subsidiary Tata Chemicals North America, Inc.

Acrysil: The company commence commercial production of additional 1 lakh units after completion of capacity expansion of Quartz kitchen sinks at Bhavnagar plant in Gujarat from 5 lakh units to 6 lakh units per annum.

Nifty Spot

On Friday, we clearly indicated that we will not jump to buy Nifty at opening bell.

Nifty has support at 14450 and resistance at 14800. Chances are bright that Index could open higher. Break and sustain above 14800 will take it to 14980---15050. More and more upside rally we will see on a close above 15050 mark

Fresh selling we will do on a close below 14450 levels. Any sharp downside panic will be the best buying strategy in Nifty with stop loss below 14450 on a closing basis.

Bank Nifty Spot

Bank Nifty has support at 34400 and resistance at 36000.

Above 35300... Target looks 36000. More and more upside rally we will see on a close above 36000 levels.

Fresh selling we will do on a close below 34400.

Trade safely.

Top Pick

Buy AIA ENGINEERING above 1825. Stop loss below 1780. Target 1900+++

Some last recommended and holding stocks like-

Jagran... Above 50, target looks 76. Stop loss below 40. Made a high of 59

Supreme Industries... Looks positive above 2000. Hold with stop loss below 1850.

For queries, contact your RM or write us on research@indianmarketview.com

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