08:11 AM
strategy on nifty
Virendra Kumar of CNBC-Awaaz says that the Nifty’s resistance zone is at 17771-17810. Its major resistance zone is 17836-17876 and base zone is 17636-17588. Its major base zone is at 17521-17481. The problem is compounded by the different figures of expiry range and FII, DII. Heavy call writing at 17800-900-18000 is the zone for 17700-600 put writers. A trading zone is possible between 17810-771/17636-588. Huge volatility possible, buy if there is a big drop in the middle of the range. Exit the long trade near 17771. Big short covering, stability and strength will return only above 17810.
08:02 AM
strategy on nifty bank
Virendra Kumar says that its resistance zone is 37940-38080. Its major resistance zone is 38241-38370 and base zone is 37562-37440. The larger base zone is 37286-37194. Nifty Bank and Bank Share expiry setups are subject to change. Zone of 38000 call writers, OI of 22.76 lakh shares. The trading zone is between 37900-37286. Buy if found near 37286 in big fall.
07:52 AM
Today’s trading tips
Axis Securities
Buy NTPC 141 SL 136 target 152-155
LKP Securities
BUY HINDALCO FUT TG 510 SL 488
Arihant Capital Markets Ltd
Buy HDFC life fut tgt 745 sl 727
07:45 AM
ABSL AMC IPO: 58% Full on Day 1
The IPO of ADITYA BIRLA SUN LIFE AMC has got good response. The IPO is filled more than 50% on the first day. The retail segment is fully subscribed. The price band is between Rs 695 to 712. The issue will close tomorrow.
07:38 AM
Nifty expiry possible between 17600-17700
Today the market will be watching the Monthly EXPIRY of September. 60% EXPERTS in CNBC-Voice Traders poll is of opinion that EXPIRY could be cut between 17600 to 17700.
07:33 AM
Military procurement worth Rs 13,165 crore approved
Major defense purchases have been approved for modernization of the army. Defense Acquisition Council has approved military procurement worth Rs 13,165 crore. The army will be equipped with modern weapons, helicopters, missiles, rockets. Action will increase in shares of other defense including HAL.
07:27 AM
Hearing of ZEE ENT case in NCLT today
NCLT’s Mumbai Bench to hear today INVESCO’s plea against ZEE ENT. Appealed to NCLT to intervene to convene EGM.
07:22 AM
IOB exited from PCA
INDIAN OVERSEAS BANK has got a big relief from RBI. The bank is out of PCA. After the relief, now the loan can be distributed freely.
07:15 AM
Global cues mixed for the markets
Global cues look mixed on the day of September expiry. Asia and SGX NIFTY are seeing a quarter percent pressure but DOW FUTURES is seeing a rise of 100 points. DOW closed 90 point strong yesterday. The volatility of bond yields shows PRESURRE on the NASDAQ.
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