Today Market Prediction

TUESDAY 

07-DEC-2021

 

Short covering maybe seen-Break above 17125 Bulls to enter

FLAT to POSITIVE MARKET

 

Today’s Market Prediction:

  • Indian stock market Would open POSITIVE
  • Technically, Indian stock matket is Still in Positive zone
  • Nifty index formed a bearish candle on the daily charts.
  • India VIX up by 8.79% at 20.08
  • Oil rebounds by almost 5% on easing Omicron fears, Iran talks
  • Govt to fast-track clearance of FDI proposals from bordering countries
  • India's airlines incurred loss of Rs 19,564 crore in 2020-21
  • Indian economy shows strong signs of recovery
  • GSS Infotech: The company acquired 100% of 'farm to store' company Polimeraas with a combination of stock and cash.
  • Rain Industries: Pabrai Investment Funds bought 2.05% stake in the company via open market transactions, increasing shareholding to 8% from 5.95% earlier.
  • HFCL: The company launched its qualified institutional placement issue on December 6, and approved floor price at Rs 72.33 per share.

Stocks in NEWS

  • Tata Motors: The company announced an increase in price in the range of 2.5%, will be implemented from January 1, 2022 and will be put into effect across segments – M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle.

  • Indo Count Industries and GHCL: Indo count acquired home textile business of GHCL for Rs 576 crore.

  • Suryalakshmi Cotton Mills: ICRA has upgraded the company's Long-Term rating to 'BBB-' from 'BB+' and also upgraded the short-term rating to 'A3' from 'A4+'. The ratings have been removed from 'rating watch with negative implications' and Stable outlook was assigned on the long-term rating & short term credit rating.

  • MT Educare: Axis Bank sold 9,18,033 equity shares in the company at Rs 7.77 per share on the NSE

  • Karnataka Bank | The bank partnered with Toyota Kirloskar Motor to extend retail vehicle finance support to its customers.

  • Maithan Alloys | The company has successfully switched on one of its two furnaces for manufacturing of ferro-alloys and commercial production is expected later this month. The other furnace is expected to be switched on within the next 30 days.

  • Wipro | The company and Celonis launched Supply Chain Command Center to help organisations drive supply-chain transformation

  • LG Balakrishnan & Brothers: Promoter Rajvirdhan V sold 1.65 lakh equity shares in the company at Rs 492.97 per share on the NSE

  • Karda Constructions: Eriska Investment Fund acquired 38 lakh equity shares in the company at Rs 16.5 per share on the NSE.

Market Indication:

Global: FLAT to POSITIVE

NIFTY:  FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK DealsKirloskar Oil Engines, Karda Constructions etc...

Stocks In F&O Ban Period: Indiabulls Housing Finance

Results Today: Nil

SGX NIFTY (Positive)

17024    +84.00    +0.50%

 

FII-DII:  FIIs were net  sellers of Rs.3361.28 crores whereas DIIs were net buyers of Rs.1701.56 crores in cash market for last trading session.
NIFTY (16912) The support for the Nifty is: 16797-16681-16595 and the resistance to the up move is at: 17122-17332-17450 levels.

BANKNIFTY (35735): The support for BankNifty is: 35506-35277-35000 and the resistance to the up move is at 36154-36573-36990 levels.