strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its resistance zone is between 18219-18265. The major resistance zone is between 18286-18318. At the same time, the base zone is between 18035-17968. At the same time, the larger base zone is between 17916-17857. FIIs statistics are extremely poor. Selling has been seen everywhere. Heavy call writing has happened. For today and the week, there is an important support at 18035-17968. There has been heavy call writing on 18219-318. This is a big supply zone. 18318-286/18035-17968 will be the trading range. Avoid trades in the beginning. First let RIL,ICICI Bank settle down.
strategy on nifty bank
Its resistance zone is at 40364-40560. The major resistance zone is at 40740-40890. The base zone is 40167-4027. The larger base zone is 39856-39705. Looks pretty strong. According to the data, good growth is possible. Good results of ICICI Bank will help in going above. So stay long, 40740-890 chances are high. Heavy call writing is seen in the monthly contract at 41000. First base is very important. Be long on it, buy in the downside.
Mixed signals from global markets
On the first trading day of the week, there are mixed signals from the global markets. Asian markets are mixed. sgx nifty and dow futures are looking flat. US markets were weak on Friday. The Nasdaq was down nearly 1 per cent due to fall in tech stocks.
RIL’s excellent results in the second quarter
RELIANCE INDUSTRIES has delivered better than expected results in the second quarter. During this period, the consolidated profit of the company has increased by more than 11 percent to Rs 13,680 crore. Its REVENUE has jumped 19 percent to 1 lakh 67 thousand crores. There has been an increase in the profit and ARPU of Jio. The company’s GDR has seen an increase of three and a half percent.
ICICI Bank profit up 30%
In the second quarter, ICICI Bank has also presented better results than expected. Its interest has increased by 25% in earnings and 30% in profits. The best Net Interest Margin has been seen in 27 quarters. Fresh NPAs have increased but recovery has been strong.
TATA CONSUMER results close to estimates, TATA ELXI profit up 10%
The Q2 result of TATA CONSUMER has been around the estimate. During this period, the company’s revenue has increased by 9% and profits by 11%. But margins are under pressure. On the other hand, the profit of TATA ELXI has increased by more than 10%.
Approval of PAYTM’s mega IPO
SEBI has approved the Mega IPO of PayTM. The company is preparing to raise Rs 16600 crore through this IPO. There can be OFS of 8300 crores in this and there can be a fresh issue of the same amount.
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