1. US markets closed higher.
2. World markets are stabilising after two weeks of down trend.
3. Asian markets are mixed.
4. Japan is down while most other Asian markets are up.
5. Yesterday, huge intraday selling was a surprise.
6. The severe one was on last Monday when Nifty fell from 11800 to 11350.
7. Now SGX Nifty is trading about 30 points higher.
8. IT stocks shot up after guidance from HCL Tech.
9. IT stocks shot up despite appreciation in Rupee.
10. Banking stocks are the main drag.
11. From September series high, Bank Nifty is down more than 3000 points.
That is about 15%.
12. HDFC Bank lead the fall.
13. CPI Inflation data came slightly better than expected yesterday evening.
14. Just now, China Industrial production data also came better than expected.
15. US futures turned positive after this data.
16. Despite such a big intraday fall, FIIs were net buyers in Cash market yesterday.
17. DII selling is very little.
18. So yesterday's fall was not because of Institutions.
19. Reliance is consolidating around 2300.
20. Mid caps and small caps did very well yesterday.
21. That is due to the expected demand from Multi Cap funds.
22. Markets were highly volatile for last two weeks.
23. But after more than two weeks, Nifty is still around 11500.
24. But the premiums did not come down much due to increase in India VIX.
25. We can expect some big move only next week.
This week, consolidation may continue.
26. Nifty future may trade between 11400 and 11580.
The Sensex corrected 97.92 points to 38,756.63 and the Nifty fell 24.50 points to 11,440, forming a bearish candle on the daily charts.
Key support and resistance levels on the Nifty
According to pivot charts, the key support levels for the Nifty are placed at 11,359.37, followed by 11,278.73. If the index moves up, the key resistance levels to watch out for are 11,544.77 and 11,649.53.
Nifty Bank
The fall in Bank Nifty was higher than the Nifty, correcting 378.65 points, or 1.68 percent, to 22,101.30. The important pivot level, which will act as crucial support for the index, is placed at 21,833.84, followed by 21,566.47. On the upside, key resistance levels are placed at 22,562.94 and 23,024.67.
Stocks in the news
Zensar Technologies launches blockchain-based contract management solution for companies.
Omaxe reported a loss of Rs 63.9 crore in Q1 FY21 against a profit of Rs 14.9 crore, revenue dropped to Rs 50.7 crore versus Rs 353 crore YoY.
Mirza International reported a loss of Rs 23.23 crore in Q1 FY21 against a profit of Rs 9.5 crore, revenue fell to Rs 83.1 crore versus Rs 308 crore YoY.
Repro India reported a loss of Rs 17 crore in Q1 FY21 against a profit of Rs 6.9 crore, revenue dropped to Rs 20.3 crore from Rs 107 crore YoY.
Munjal Auto Industries reported a loss of Rs 11.30 crore in Q1 FY21 against a profit of Rs 4.3 crore, revenue declined to Rs 212.7 crore versus Rs 301 crore YoY.
SREI Infrastructure Finance reported a profit of Rs 23 crore in Q1 FY21 against a profit of Rs 42.67 crore, revenue fell to Rs 1,188.6 crore against Rs 1,582.6 crore YoY.
HUDCO reported a profit of Rs 203.4 crore in Q1 FY21 against a profit of Rs 335.6 crore, revenue declined to Rs 1,773.9 crore from Rs 1,806.5 crore YoY.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 298.22 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 120.35 crore in the Indian equity market on September 14, as per provisional data available on the NSE.
Stock under F&O ban on NSE Eight stocks
-- Adani Enterprises, Bank of Baroda, BHEL, Canara Bank, Escorts, Indiabulls Housing Finance, Jindal Steel & Power and Vedanta -- are under the F&O ban for September 15. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.INTRADAY CASH CALL:
TODAY:
AXIS BANK
BUY ABOVE @ 441
SELL BELOW @ 435.76
TRGTs @ 2rs/4rs
SL @ 2rs
(YESTERDAY CALL RESULT BUY TARGET1 PROFIT BOOKED & SELL SIDE Huge PROFIT )
AXIS BANK
BUY ABOVE @ 451.70
SELL BELOW @ 446.10
TRGTs @ 3rs/5rs
SL @ 3rs
Result summary
Omaxe reported a loss of Rs 63.9 crore in Q1 FY21 against a profit of Rs 14.9 crore, revenue dropped to Rs 50.7 crore versus Rs 353 crore YoY.
Mirza International reported a loss of Rs 23.23 crore in Q1 FY21 against a profit of Rs 9.5 crore, revenue fell to Rs 83.1 crore versus Rs 308 crore YoY.
Repro India reported a loss of Rs 17 crore in Q1 FY21 against a profit of Rs 6.9 crore, revenue dropped to Rs 20.3 crore from Rs 107 crore YoY.
Munjal Auto Industries reported a loss of Rs 11.30 crore in Q1 FY21 against a profit of Rs 4.3 crore, revenue declined to Rs 212.7 crore versus Rs 301 crore YoY.
SREI Infrastructure Finance reported a profit of Rs 23 crore in Q1 FY21 against a profit of Rs 42.67 crore, revenue fell to Rs 1,188.6 crore against Rs 1,582.6 crore YoY.
HUDCO reported a profit of Rs 203.4 crore in Q1 FY21 against a profit of Rs 335.6 crore, revenue declined to Rs 1,773.9 crore from Rs 1,806.5 crore YoY.
Economic Times
Business Standard
Ø SoftBank said to near a deal to sell British chip designer arm
Ø Steel demand surges on the back of rise in automotive sales
Ø CBDT deploys two-third of its workforce for faceless assessment scheme
Ø ArcelorMittal, Dastur set to research on solution for carbon capture
Ø Auto component industry seeks long term roadmap for regulatory changes
Ø Tata Motors plan to achieve net debt zero target by FY24
Ø Sebi issues clarification on asset allocation framework for multi-cap MFs
Ø BEL upbeat on defence biz prospect, seeks to ride govt's self-reliance push
Ø Retail inflation to come down with easing of lockdowns: CEA Subramanian
Ø Discoms' outstanding dues to power gencos rise 36% to Rs 1.29 trn in July
Ø India to be self-reliant in fertilisers production by 2023: Gowda
Business Line
Mint
Ø Listed power cos have ₹11,252 cr of bills pending for over 2 years
Ø Marico plans to inject a booster dose to foods biz
Ø CBIC suspends licence of 56 Customs brokers
Ø Clinical trial resumes on AstraZeneca-Oxford University Covid-19 vaccine
Ø MFs to seek time to comply; plan alternatives to ‘protect’ investors
Ø ByteDance tells US it won’t sell TikTok’s algorithm: Report
Ø Mutual funds withdraw ₹17,600 crore from stocks in July-August
Ø Covid treatment accounted for 11% of health insurance claims in Apr-Aug: Study
Ø FPIs turn net sellers in September, pull out ₹2,038 cr so far
Ø Carlyle may pick up $2 billion stake in RIL’s retail arm
Financial Express
Deccan Chronicle
Ø India’s coal import drops 35% in Aug on lower demand from power, cement players
Ø SBI Card to enrol ‘delinquent’ customers in restructuring plans: MD
Ø 13 lakh new retail investors added in stock market in past one month
1 Comments
Wonderful post about trading and different markets
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