strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its resistance zone is visible at 17871-17945. The major resistance zone is at 17981-18030. The base zone is visible at 17757-17710 and the larger base zone at 17677-17641. Global signals, data setup is quite strong. Today is Friday and policy day, if bad news doesn’t come, good growth is possible. So stay long, buy and also buy the pre-policy downside. Safe to decline to first base ie 17757-710. SL of 17771 in 18000 call is a good option. According to the data, there can be a good uptrend.
strategy on nifty bank
Virendra Kumar on Nifty Bank says that its resistance zone is 37960-38110 and the bigger resistance zone is 38359-38568. The base zone is 37580-37450. The larger base zone is 37380-37280. Today is Friday and policy day, outperformance is yet to come. 38000 Big resistance, first base is also important. Stay long, buy and buy the downside till first base. Keep a large SL due to the policy, SL at 37380-280 is good. If 38000 hinges after the policy, then after 12 o’clock there can be an increase.
Credit policy announcement today at 10 p.m.
RBI credit policy will be announced today at 10 am. Economist and bankers in Awaaz MPC said – change in rates will not be expected. The policy is likely to focus on growth. Action can be seen in realty, auto and banking stocks today.
TCS Q2 results will be out today
Today the results season will begin with the results of IT giant TCS. TCS’ dollar revenue is expected to grow 4.1% in the second quarter. The same profit is expected to increase by 8%.
OBEROI REALTY Q2 Update: Bookings up 3.4x
OBEROI REALTY has had a strong performance in the second quarter. There has been a jump of about three and a half times in bookings. According to the Q2 update, the company has booked Rs 828 crore. Yesterday the stock had gained 9%.
Crude rises, Brent crosses $ 82 per bbl
Crude oil prices are seeing a rise again due to limited supply. Brent crossed $82. Movement in ONGC, Oil India JAISE shares will increase.
Good signals from US market and Asia
The signs from the global market are looking good. Asia got off to a strong start but SGX NIFTY is trading flat. On the other hand, yesterday the US markets have seen a rise for the third consecutive day. The DOW had closed up by 300 and a half points. Today there is a rise of 70 points in DOW FUTURES.
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