Today Market Prediction

MONDAY 

20-SEP-2021

 

Market is over stretched-Breakout below 17485 is further downside

FLAT to NEGATIVE MARKET

 

Today’s Market Prediction:

  • Indian stock market Would open NEGATIVE
  • Technically, Indian stock matket is Still in Positive zone
  • Nifty index formed a bearish candle on the daily charts.
  • India vix up by 5.68% at 15.23
  • Oil down on stronger greenback, rising US rig count
  • Govt increases domestic flight capacity to 85% of pre-COVID levels with immediate effect
  • Housing demand to rise on SBI's decision to offer home loan at 6.7% interest rates: Realtors
  • Foreign portfolio investors net buyers at Rs 16,305 crore so far in September
  • Cadila Healthcare: Zydus Cadila received final approval from USFDA for Vortioxetine tablets which are used to treat depression.
  • IRB Infrastructure Developers: Subsidiary IRB Sindhudurg Airport Private Limited has received Aerodrome license from the Director General of Civil Aviation.
  • Wipro: The company announced the launch of the Wipro-Google Cloud Innovation Arena in Bangalore.

Stocks in NEWS

  • Zee Entertainment Enterprises: BlackRock Inc. (on behalf of discretionary management clients) picked more than 3.01 lakh equity shares in the company via open market transaction, increasing shareholding to 5.01% from 4.98% earlier.

  • Aster DM Healthcare: The company acquired 86% stake in Hindustan Pharma Distributors Private Limited. The Vanguard Group Inc A/C Vanguard Total International Stock Index Fund (P8) acquired 26,59,223 equity shares in healthcare company Aster DM Healthcare at Rs 216.42 per share on the NSE

  • KEI Industries: The Vanguard Group Inc A/C Vanguard Total International Stock Index Fund (P8) & Vanguard Emerging Markets Stock Index Fund A Series of V I E I F together bought 9,86,771 equity shares in cable manufacturer KEI Industries at Rs 847.56 per share on the NSE

  • HLE Glascoat: The company signed definitive agreements to acquire the global business of Thaletec GmbH, Germany as well as its subsidiary Thaletec USA, as a part of its strategy to strengthen its position further in the global markets with innovative technology.

  • Motilal Oswal Financial Services: The company intends to issue 1,000 secured principal protected market linked redeemable non-convertible debentures of face value of Rs 10 lakh each, amounting to Rs 100 crore on private placement basis, in one or more tranches.

  • NCL Industries: The company entered in to a Joint Venture Agreement with Moravia Containers A.S. of Czech Republic to set up a joint venture company for manufacture of Modular Containers & Systems and other products.

  • Nazara Technologies: NODWIN Gaming, an independent subsidiary of Nazara Technologies, acquired the Gaming and adjacent IP business of OML Entertainment for Rs 73 crore.

  • G R Infraprojects: GR Infraprojects announced settlement of legal proceedings between the company (Contractor) and the National Highways Authority of India.

  • Bajaj Holdings & Investment: The company declared an interim dividend of Rs 90 per equity share of Rs 10 each.

  • Vipul Organics: The company has initiated and executed Memorandum of Understanding for acquisition of an industrial land in Saykha GIDC, Gujarat for expansion of its manufacturing activities in chemical intermediates.

  • Balaji Amines: Integrated Core Strategies (Asia) Pte Ltd offloaded 1,83,126 equity shares in chemical manufacturing company Balaji Amines at Rs 4,779.1 per share on the NSE

  • Reliance Power: Integrated Core Strategies (Asia) Pte Ltd sold 2,04,35,178 equity shares in Reliance Power at Rs 13.75 per share on the NSE

  • Great Eastern Shipping: The company has delivered its 2003 built Aframax Crude Carrier 'Jag Lata' to the buyers. The vessel was contracted for sale in July 2021.

Market Indication:

Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY: FLAT to NEGATIVE

BULK Deals: Reliance Power, Balaji Amines etc...

Stocks In F&O Ban Period: Escorts, Exide Industries, Indiabulls Housing Finance, IRCTC, NALCO, Punjab National Bank, SAIL, and Sun TV Network

Results Today: Nil 

SGX NIFTY (Negative)

17443    -158.00    -0.90%

 

FII-DII:  FIIs were net  buyers of Rs.1552.59 crores whereas DIIs were net sellers of Rs.1398.55 crores in cash market for last trading session.
NIFTY (17585): The support for the Nifty is: 17484-17383-17300 and the resistance to the up move is at: 17739-17893-17950 levels.

BANKNIFTY (37811): The support for BankNifty is: 37434-37056-36680 and the resistance to the up move is at 38151-38490-38830 levels.