08:58 AM
Know what is Nilesh Shah’s opinion about the correction coming in the market
For the last 6 months, it is being talked about continuously that a correction is sure to come in the market. The market valuation is high. So why isn’t the market going down a lot? On this, Nilesh Shah, Managing Director, Kotak AMC says that three things are driving the market. First money flow, second sentiment and third fundamentals. HNI investors, mutual funds, pension funds, insurance companies and foreign portfolio investors are all buying. During this time only promoters are selling their stake.
Nilesh Shah said, talking about the sentiment, the economy is opening up. Growth is accelerating. The activity level has also exceeded the level before the infection.
Talking about the fundamentals, the results of the companies are coming out strong. If these three things are there then there is no need to fear in the market. According to ET, Nilesh Shah says that when funds are high and there is fundamentals support along with sentiment, the market does not care for apprehensions.
08:52 AM
How can the market move ahead?
Shrikant Chauhan of Kotak Securities says that finally there was profit recovery in the market. But before that the major indices hit record highs. After the recent uptrend, the market can now see a period of recovery of profits. Nifty has formed a bearish candle formation on the daily chart which is a negative sign.
He further said that Nifty has formed a lower top formation on the intraday chart. This is also a sign of intraday weakness. For day traders, the level of 18,550-18,600 will act as an immediate hurdle. Know below this, but the downside in Nifty can be seen at the level of 18,350-18,300. On the other hand, if Nifty goes above 18,600, then we can see the level of 18,650-18,675 in this. Contra traders can take long positions around the support level of 18,300 with a stop loss of 18,250.
In yesterday’s trade, there was more fall in the small-medium stocks than the giants. Nifty Midcap was broken at 2.17 fees yesterday. At the same time, Smallcap had fallen 1.69 percent.
08:44 AM
Petrol Diesel Price Today : Petrol and diesel prices have increased on Wednesday, the third day of the week. After two consecutive days of calm, the prices have risen. Today both petrol and diesel have become costlier by 35 paise. Now the rate of petrol in Delhi has crossed Rs 106. Diesel has also crossed Rs 100 in many cities. Petrol is being sold in Delhi today at Rs 106.19 per liter and diesel at Rs 94.92 per liter.
08:35 AM
HDFC Asset Management CompanyPiyush Surana has resigned as the Chief Financial Officer (CFO) of the company.
08:28 AM
ICICI Securities: The company made a profit of Rs 351.2 crore in Q2FY22 while the company’s profit in Q2FY21 was Rs 278.15 crore. The company’s income increased from Rs 680.68 crore to Rs 856.37 crore on a year-on-year basis.
08:22 AM
L&T Technology Services: The company reported a consolidated profit of Rs 230 crore in Q2FY22 as against Rs 216.2 crore in Q1FY22. The company’s income increased to Rs 1,607.7 crore from Rs 1,518.4 crore on a quarterly basis.
08:15 AM
strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its resistance zone is visible at 18477-18519. The major resistance zone is at 18547-18587. The base zone is visible at 18350-18310 and the larger base zone at 18284-18251. Yesterday it was clearly forbidden to go long, said that the fall is possible, the figures of institutional investors are also bad. Can’t ask to sell now but if slips below 18350-310, the decline will increase. Avoid index for now, 18587-47/18350-310 is trading range. Buy the decline and exit the upper levels. Buy 18200 put below 18350-310. Keep an eye on the Advance-Decline, RIL is currently holding a downward trend.
08:05 AM
strategy on nifty bank
Virendra Kumar of CNBC-Awaaz says that its resistance zone is visible at 39710-39850. The major resistance zone is at 39980-40110. The base zone is visible at 39377-39240 and the larger base zone at 39040-38910. HDFC Bank, Kotak are currently holding the decline. The base zone of 39377-240 is important, avoid shorts above it. Buy every drop above 39377-240. Buy 38800 put below 39377-240. Above the first base is the 39980-850/39377-240 trade zone.
07:55 AM
DEEPAK FERTILISERS launches QIP issue
Deepak Fertilizer launches QIP issue. The company plans to raise up to Rs 600 crore. The price band is Rs 405 to 415. The price of QIP is at a discount of up to 6.5%.
07:48 AM
ACC’s profit fell 21%
The results of ACC have been as expected. Profit in the third quarter grew by nearly 24 per cent to Rs 450 crore. Income has also increased by 6% to close to 3750 crores. There has been a marginal jump of 1.23% in volume growth.
07:40 AM
NESTLE Margins under pressure due to rising costs
NESTLE’s third quarter profit grew 5% to Rs 617 crore. There has also been a jump of about 10% in income. Domestic sales growth 10% but raw material inflation has impacted margins.
07:32 AM
L&T Tech’s profit up 39% to Rs 230 crore
After L&T Infotech, L&T Tech has also had good results. Quarter by quarter profit up 6.4% to 230 crores. Dollar revenue has also seen a jump of about 6%. In September Quarter, the company has got 5 mega deals worth more than 10 million dollars.
07:26 AM
Reliance Retail’s Ritu Kumar brand
Now RELIANCE RETAIL is the brand of fashion designer RITU KUMAR. The company’s stake in Ritika Pvt Ltd has increased to 52 per cent. Earlier RELIANCE RETAIL had bought 40% stake in Manish Malhotra’s company.
07:17 AM
Good signals from global markets
GLOBAL markets are looking good. Asian markets are seeing a boom. SGX NIFTY and DOW FUTURES are also trading higher. There was an increase in the US markets yesterday. DOW JONES has jumped about 200 points.
.