FRIDAY 

24-JUN-2022

 

 Holding 15405 is the key for Bulls to sustain-Buy on Dips

FLAT to POSITIVE

 

Today’s Market Prediction:

• Indian stock market Would open POSITIVE
• Technically, Nifty is still in the Negative zone whereas BankNifty is still in the Negative zone
• Nifty index formed  a bullish candle on the daily charts.
• India VIX fell by 1.97% at 20.88
• Accenture’s Q3 revenue comes in at $16.2 billion, beats estimates
• Oil prices rise on tight supply, inventory uncertainty
• RBI proposes norms for outsourcing of IT services by banks, NBFCs
• Indian economy to grow by 7-7.8% in FY23 despite global headwinds
• Fed says US banks can weather severe downturn comfortably
• Jammu & Kashmir Bank: Jammu & Kashmir Bank to consider fundraising on June 28. The bank said the board will hold a meeting on June 28 to consider raising capital (Tier I/Tier II) during the financial year 2022-23.

Stocks in NEWS

• Hero MotoCorp: Hero MotoCorp to increase prices of motorcycles and scooters from July 1. The company will increase ex-showroom prices of its motorcycles and scooters with effect from July 1 to partially offset the steadily growing input cost inflation.

• Century Plyboards: Century Plyboards makes further investments in subsidiary Century Panels. The company has made further investments of Rs 20.95 crore in its wholly owned Century Panels by subscribing to 2.09 crore shares through a rights issue.

• DCM Shriram: DCM Shriram to invest Rs 65 crore in special purpose vehicle (SPV) for wind-solar hybrid renewable power project. The company informed exchanges that the board has approved to invest up to Rs 65 crore for minimum 26 percent equity stake in an SPV which will be created for setting up a wind-solar hybrid renewable power project. 

• Thermax: Thermax arm buys two companies in renewable energy sector. Subsidiary First Energy has acquired two companies - Jalansar Wind Energy and Kanakal Wind Energy - which will become wholly owned step-down subsidiaries of Thermax. Both the companies belong to the renewable energy sector.

• Cigniti Technologies: Cigniti Technologies to consider closure of share buyback on June 29. The company said its board of directors will hold a meeting on June 29 to consider the closure of buyback of shares of the company.

• Suyog Telematics: Nariman Investment Holdings offloads 4.02 lakh shares in Suyog Telematics. Nariman Investment Holdings sold 4.02 lakh shares in the company via open market transactions on June 22. With this, its shareholding stands reduced to 19.05 percent from 22.89 percent. 

Market Indication:

Global: FLAT to POSITIVE

NIFTY:  FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK Deals: Ambani Oraganics ltd, KBC Global Ltd etc.

Stocks In F&O Ban Period: Delta Corp, Indiabulls Housing Finance, RBL Bank, and Sun TV Network 

Results Today: Nil

SGX NIFTY:  (Positive)

15649    +84.50    +0.54%

 

FII-DII:  FIIs were net sellers of Rs.2319.06 crores whereas DIIs were net Buyers of Rs.2438.31 crores in cash market for last trading session.

NIFTY (15556) The support for the Nifty is: 15407-15257-15200 and the resistance to the up move is at: 15668-15779-15855 levels.

BANKNIFTY (33135): The support for BankNifty is: 32714-32293-31870 and the resistance to the up move is at 33494-33853-34210 levels.