Stocks in Focus: During trading today, there will be focus on stocks like Reliance, Vodafone Idea and Adani Enterprises.
Market Outlook: The rally of the domestic market in the new year has stopped today (January 6) and there is a trend of decline in BSE Sensex and Nifty 50 on the day of weekly F&O expiry. According to Mohit Nigam, Head-PMS, Hem Securities, Nifty is getting immediate support at the level of 17600 and it is facing strong resistance at the level of 18200. On the other hand, according to Reliance Securities, today Nifty can get support in the 17600-17500 zone at the time of decline. Talking about individual stocks, today the focus will be on Reliance, Vodafone Idea, Bharti Airtel, Axis Bank, NHPC, Adani Enterprises and NTPC.
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Today focus on these stocks
- Vodafone Idea: The Delhi High Court has stayed the order of Telecom Tribunal TDSAT under which telecom regulator TRAI could take action against Vodafone Idea for not providing outgoing SMS facility on low tariff plans by the company. Due to non-availability of outgoing facility, customers cannot send messages for porting mobile numbers.
- Bharti Airtel: Hughes Communications India (HCIPL), a subsidiary of Hughes Network Systems, a majority stakeholder, and telecom giant Bharti Airtel have formed a joint venture to provide satellite broadband services in the country.
- Axis Bank: Axis Bank on Wednesday sold 38 lakh shares of Orient Green Power at a price of Rs 22.40 through a bulk deal on the NSE. Apart from this, the bank has also sold its 45 lakh shares on BSE at a price of Rs 22.80.
- Reliance Industries Ltd (RIL): Credit rating agencies Moody’s have rated Reliance’s proposed US dollar based senior unsecured fixed rate notes at Baa2 with a stable outlook. S&P Global Ratings has also rated it BBB+ with a stable outlook.
- NHPC: An agreement has been signed between NHPC and Green Energy Development Corporation of Odisha (GEDCOL) at the level of promoters. Under this, JV company will be formed to develop 500 MW floating solar power projects in multiple sources of water in Odisha.
- Adani Enterprises, NTPC: Adani Enterprises, the country’s largest imported thermal coal trader, has won the contract to supply coal to the country’s largest power producer NTPC. Is. According to information received by Bloomberg quoting sources, this deal has been done so that a situation like last year’s coal crisis does not happen again. Adani Enterprises will supply 1 million tonnes of coal to state-owned NTPC.
Adani Group will supply 1 million tonnes of coal to NTPC, another government company can also give such a big contract
You can bet on these stocks in intra-day
According to Reliance Securities, today you can bet on Maruti, Bandhan Bank and Grasim in intra-day.
- MARUTI: In the price range of Rs 7,740- Rs 7,700, you can take a long position with a target price of Rs 7,910 and a stop loss of Rs 7,590.
- BANDHANBNK: In the price range of Rs 256- 254, you can take a long position by placing a stop loss of Rs 249 at the target price of Rs 274.
- GRASIM: Can take long positions in the price range of Rs 1,726- Rs 1,714 with a target price of Rs 1,795 and a stop loss of Rs 1,680.
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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