What should be the strategy on bank nifty
CNBC-Awaaz editor – F&O, Virendra Kumar says buy bank nifty with SL of 35950. The first target of Bank Nifty is 36450. If the gap starts in the market, the bank may open around 36450 in the Nifty. There will be vigorous shortcovering above 36450. Bank Nifty can go to 36950-37200 in shortcovering.
What should be the strategy on nifty
CNBC-Awaaz editor – F&O, Virendra Kumar says that Nifty has a breakout above 15220. Nifty can go up to 15431 in breakout. The nearest target of the Nifty is 15270-15335.
After Nagpur, lockdown may occur in some other cities of Maharashtra. Chief Minister Uddhav Thackeray has indicated. There is a one-week detention in Nagpur from March 15. Apart from Maharashtra, cases have also increased in Kerala, Punjab and Chhattisgarh. In the last 24 hours, about 23 thousand new cases of corona that have appeared in the country have been revealed.
The Amrit Mahotsava will start from today for the 75th anniversary of independence. PM Modi will inaugurate after reaching Sabarmati. Dandi will also flag off the march with Chakha Capen.
IPOs have come out in the market. Anupam Chem’s IPO is opening from today. The company fixed the price band from 553 to 555 rupees. The company raised 125 crore from 15 anchor investors. Meanwhile, Lyon Jewelers’ IPO will open on March 16. The price band has been fixed from 86 to 87 rupees.
Term insurance can be expensive from April 1. Companies are set to increase the premium by 10 to 25%. Companies can decide by increasing claims. According to Sanjiv Bajaj, MD, Bajaj Capital, the pressure on insurance companies has increased due to Corona.
74% FDI in insurance has cleared the way. The Cabinet has approved the amendment in the Insurance Act to increase the existing 49 per cent limit. 1000 crores has been sanctioned to purchase VVPAT. Today action may increase in BEL.
Today, strong action can be seen in IDBI Bank. The bank has exited the PCA framework. On the other hand, according to CNBC-Awaaz’s EXCLUSIVE news, selling the government stake in the bank may get cabinet approval in 2 weeks. The stake will be sold in several stages.
Crude oil has seen a more than 2 per cent jump in economy due to rapid recovery in the economy and depletion of reserves in the US. Brent price has reached close to $ 70 but gold has slipped slightly from the height of one week. COMEX GOLD has reached $ 1725.
President Biden’s signature on the $ 1900 billion stimulus package has seen a record rally in US markets. The S&P 500 closed at historic lows yesterday. DOW and NASDAQ also swung. Asia has a strong start. SGX NIFTY is trading up a quarter per cent.
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