THURSDAY 

21-NOV-2024

 

Bears on the ride-Break and sustain below 23475 (pivot) is further downside maybe expected-Nifty Expiry

FLAT to NEGATIVE

Today’s Market Prediction:

• Indian stock market Would open NEGATIVE
• Technically, Nifty is in the Bullish zone- BankNifty is in the Positive zone
• Nifty index formed a bullish candlestick pattern on the daily charts.
• India VIX up by 3.26 percent to 15.66 levels.
• PSP Projects:Adani Infra (India), the PMC subsidiary of Adani Group, has signed definitive agreements to acquire up to a 30.07% stake in PSP Projects from the existing promoter, Prahladbhai S Patel, for Rs 685.4 crore.
• Tata Power Company:The company has entered into a strategic partnership with Druk Green Power Corporation (the sole generation utility of Bhutan) to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan. 
• Aditya Birla Capital:The company has invested Rs 100 crore on a rights basis in Aditya Birla Capital Digital. Following this investment, there is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Capital Digital continues to be a wholly owned subsidiary of the company.

Stocks in NEWS:-

• Bharti Airtel:Nokia has been awarded a multi-year, multi-billion extension deal by Bharti Airtel to deploy 4G and 5G equipment across key Indian cities and states. As per the contract, Nokia will deploy equipment from its 5G AirScale portfolio, including base stations, baseband units, and the latest generation of Massive MIMO radios, all powered by its energy-efficient ReefShark System-on-Chip technology.

• Godrej Properties:The real estate developer has acquired a 53-acre land parcel in Joka, Kolkata. The proposed project is estimated to have a development potential of 1.3 million square feet of saleable area, primarily consisting of residential plotted development, with an estimated revenue potential of Rs 500 crore.

• JSW Steel:he company has been declared the preferred bidder for Codli Mineral Block XII, located in Dharbandora, Goa, in an auction held on November 12. The projected iron ore resources stand at 48.5 million tonnes, in addition to 2.7 million tonnes of ore in dumps. 

• NLC India:The company will invest up to Rs 3,720 crore, in one or more tranches, for various renewable projects and acquire a stake by subscribing to equity shares of NLC India Renewables, as part of its asset monetization plan. The renewable energy assets currently on NLC’s books were valued at Rs 6,263 crore as of September 2024.

• Power Grid Corporation of India:The company has acquired Khavda V-A Power Transmission from the bid process coordinator, REC Power Development and Consultancy, for Rs 18.9 crore. Khavda V-A Power Transmission is the project Special Purpose Vehicle (SPV) formed to establish a transmission system for the evacuation of power from the potential renewable energy zone in the Khavda area of Gujarat on a build, own, operate, and transfer (BOOT) basis.

• Godfrey Phillips India:The company has declared an interim dividend of Rs 35 per equity share for the financial year ending March 2025. November 29 has been fixed as the record date for determining the entitlement of shareholders for the interim dividend.

• Varun Beverages:The company has raised Rs 7,500 crore via a Qualified Institutions Placement (QIP) issue. The board has approved the allotment of 13.27 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 565 per share.

• UPL:Agricultural solutions provider UPL and global investment firm Alpha Wave Global have signed definitive agreements. As per the agreements, Alpha Wave Global will invest $350 million to acquire approximately a 12.5% stake in seed company Advanta Enterprises, a subsidiary of UPL.

• RITES:The transport infrastructure consultancy has signed a Memorandum of Understanding (MoU) with the National Institute of Solar Energy (NISE) to collaborate on quality assurance (QA) services for solar and renewable energy projects.

• 20 Microns:The company has incorporated a joint venture, Sievert 20 Microns Building Materials, to engage in the production of construction chemicals and building material-related products.

• Strides Pharma Science:The company has received approval from the National Company Law Tribunal (NCLT) for the creation of OneSource, India’s first specialty pharma Contract Development and Manufacturing Organization (CDMO).  

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, dropped to 0.83 on November 19, from 0.85 level in the previous session.

BULK Deals:Shree Tirupati Balajee Agro Trading Company etc.

Stocks In F&O Ban Period:Aarti Industries, Aditya Birla Fashion & Retail, GNFC, Granules India, Hindustan Copper, Indraprastha Gas

Results Today:Nil

GIFT NIFTY:  (Negative) 

23516    -153.50    -0.65

FII-DII: FIIs were net sellers of Rs.3411.73 crores whereas DIIs were net buyers of Rs.2783.89 crores in cash market for last trading session.

NIFTY (23519) The support for the Nifty is: 23487-23393-23270 and the Resistance to the up move is at: 23709-24783-23905 levels.

BANKNIFTY (50626): The support for BankNifty is: 50476-50348-50140 and the Resistance to the up move is at 50890-50019-51225 levels.

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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