Stocks in Foucs: The focus will be on these stocks during trading today.
Nifty Outlook: Domestic equity benchmark indices were slippery a trading day ago amid declines in Asian markets. Despite the fall, volatility was not high on Tuesday and the Nifty continued to fluctuate between 38.2 per cent and 50 per cent of the Fibonacci Retracement Levels throughout the day. Most of the moving averages are sloping downwards and technical indicators are also negative, indicating that the index may remain under pressure. According to brokerage firm Reliance Securities, Nifty will get support at the level of 17175 and then 17050 under selling pressure. On the higher side, the index may face resistance at the level of 17850. Talking about today (December 15), Nifty will get support at the level of 17242 and then 17159. Nifty may face resistance at 17392 and then 17459 levels.
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Advice to bet on these stocks in intra-day
According to Reliance Securities, today the focus will be on Dr Reddy, DeltaCorp and Voltas in intra-day.
- DRREDDY: In the price range of Rs 4600-4630, take a long position with a target price of Rs 4780 and a stop loss of Rs 4550.
- DELTACORP: In the price range of Rs 298-301 with a stop loss of Rs 303, you can take a short position at the target price of Rs 287.
- VOLTAS: In the price range of Rs 1245- Rs 1255, short positions can be taken with a target price of Rs 1220 and a stop loss of Rs 1265.
Will keep an eye on these stocks today
ITCThe top management of the company discussed the strategy of cigarette business, demerger plan and FMCG business in the investors’ meeting held for the first time on December 14. The company’s top management insisted that the health ministry regularly makes annual recommendations. The company is considering its business strategy regarding taxation at higher rates on the cigarette business.
GR Infra: The company has informed that the development project of Purvanchal Expressway from Sidhi Ganeshpur to Sansarpur in Uttar Pradesh has been completed provisionally. GR Infra’s subsidiaries GR Amritsar Bathinda Highway Pvt Ltd and GR Ludhiana Rupnagar Highway Pvt Ltd have completed concession agreement with National Highway Authority of India (NHAI) on 14th December.
There isni Green: Adani Green Energy on Tuesday signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI), the state aggregator of green power. Under this, Adani Green will supply 4667 MW of green power to SECI. This is the biggest PPA for SECI that it has done with any producer.
Anand Rathi Wealth: Shares of Anand Rathi Wealth opened on domestic stock exchanges on Tuesday. Investors who put money in the Rs 600 crore IPO of Anand Rathi Wealth got a listing gain of 9.46 per cent against the IPO price of Rs 550. Its shares were listed on BSE/NSE at a price of Rs 602.05. However, a few minutes after the listing, its shares fell to a price of Rs 575 and slipped to a price of Rs 570.90. On Tuesday, Anand Rathi closed at Rs 583.50 on BSE.
SBI: SBI said on Wednesday morning that the executive committee of the bank’s central board has agreed to approve the possibility of diluting SBI’s 6 per cent stake in SBI Funds Management Private Limited through an IPO. Apart from this, SBI has given information about raising Rs 3974 crore through non-convertible debt instruments as per the rules of Basel-3.
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. 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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