Today Market Prediction

TUESDAY 

21-MAY-2024

 

Break below and sustain 22475 is Bears entry zone

FLAT to NEGATIVE

Today’s Market Prediction:

  • Indian stock market Would open FLAT
  • Technically, Nifty is in the Negative zone- BankNifty is in the Positive zone.
  • Nifty index formed small bullish candlestick pattern on the daily Chart.
  • India VIX up by 3.67 percent to 20.53 levels.
  • ABS Marine Services:The company will make its debut on the NSE Emerge on May 21. The final issue price has been fixed at Rs 147 per share.
  • Indus Towers:A foreign institutional investor (FII) shareholder is likely to sell a stake worth Rs 270 crore in Indus Towers on May 21 via a block deal. The block deal is expected to involve 80 lakh shares for a deal size of Rs 270 crore.
  • Rail Vikas Nigam:The state-run railway company has received a Letter of Acceptance for a project worth Rs 148.3 crore from SER HQELECTRICAL/South Eastern Railway.

Stocks in NEWS:-

  • Lupin:The US Food and Drug Administration (US FDA) has concluded a pre-approval inspection at company's Somerset, New Jersey manufacturing facility. The inspection was conducted during May 7 and May 17, 2024, and closed with an issuance of a Form-483 with six observations.

  • Radico Khaitan: The liquor maker sold 6.3 million cases of its flagship brand, Magic Moments Vodka in FY24, amounting to sales worth Rs 1,000 crore. This was significantly higher compared to the previous fiscal year's sales of 5.2 million cases.

  • Solara Active Pharma Sciences: The US Food and Drug Administration (US FDA) has completed an inspection at the company's Visakhapatnam-based multipurpose API manufacturing facility. According to the inspection, the site is in an “Acceptable State of Compliance” with zero Form 483 inspectional observations from the US FDA. 

  • CG Power and Industrial Solutions:A foreign institutional investor (FII) shareholder is likely to sell a stake worth Rs 425 crore in CG Power on May 21 via a block deal. The block deal is expected to involve 65 lakh shares for a deal size of Rs 425 crore.

  • Mandeep Auto Industries: The company will list its equity shares on the NSE Emerge on May 21. The issue price is Rs 67 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Market Indication:

Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY: FLAT to NEGATIVE

PCR:The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 1.24 on May 18 from 1.23 levels in the previous session.

BULK Deals: Delta industrial Resources ltd, Jindal Saw etc.

Stocks In F&O Ban Period: Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Biocon, Birlasoft, GMR Airports Infrastructure, Granules India, Hindustan Copper, Vodafone Idea, India Cements, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises.

Results Today: Nil

GIFT NIFTY (Negative)

22595   -53.00    -0.23%

FII-DII: FIIs were net sellers of Rs.152.87 crores whereas DIIs were net sellers of Rs.92.95 crores in cash market for last trading session.

NIFTY (22502) The support for the Nifty is: 22478-22466-22445 and the Resistance to the up move is at: 22507-22530-22550 levels.

BANKNIFTY (48199): The support for BankNifty is: 48133-48100-48050 and the resistance to the up move is at 48210-48250-48300 levels.

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Note:

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we are not SEBI registered . you may consult your Financial advisor before taking trade.
Our views are based on candlestick charts,patterns,Mathematical based calculation ( pivot)
we are not responsible for any profit/loss as views are for Educational/Observation Purpose

Maintain your daily risk as per your capital and risk management. daily risk should not cross more than 2 % of your Total capital . managing your risk is important in any kind of trading . If you are in direction of Profit then Trail your SL . without SL no trade. 

If you are Trading in Equity : then you may use this calculation for risk management
If Daily Risk in Equity is Rs. 250 and SL is of 5 points ( from entry point to SL point)  then Qty should be taken as per this Risk: 250/5 = Qty 50