strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its resistance zone is 15910-15954 and the larger resistance zone is 16010-16041. The base zone is 15788-15761 and the larger base zone is 15726-15690. US market at new peak, support at 100 DEMA has worked well. FIIs selling in cash is declining, now long on the index. 15788-61 for today, 15700-690 is the key support for this week. Above 15900-910 big resistance but stay long, buy the downside too. Good results will support, the level of 15910-954-16010 is also possible in Nifty.
strategy on bank nifty
Virendra Kumar says that its resistance zone is 35127-35200. Large Resistance Zone: 35289-35429. The base zone is at 34840-34731 and the larger base zone is at 34475-34400. Have achieved the difficult zone of 35000 on Friday. Good results of ICICI Bk will help in going 35500. Buy and buy every drop till first base of 35840.
Today’s Trading Calls
Prudent Broking Services
BUY TATA CONSUMER AT 776 SL 764 TGT 795
Buy JINDALSTEEL Stop 386 Target 417
Buy Wipro @ 598 SL 585 TGT 640
JSW STEEL Results Better Than Expected
JSW STEEL posted excellent results in the first quarter. The company has come in profit of 5900 crores from losses. On the other hand, the results of UNITED SPIRITS have also been strong. The company has a profit of 60 crores against the loss. There has been a jump of 61% in volume.
Results of 5 Nifty companies today
Nifty is a big day of results for companies. AXIS BANK, KOTAK MAH BANK, L&T, SBI LIFE and TATA MOTORS will present the results for the first quarter today.
22nd anniversary of Kargil Vijay Diwas
The nation will pay tribute to the martyrs on the 22nd anniversary of Kargil Vijay Diwas. President Ram Nath Kovind will visit Ladakh to pay tribute to the heroes.
ICICI Bank: 78% jump in profits
ICICI Bank’s performance in Q1 has been excellent. There has been a strong jump of 78% in profit and 18% in interest income. Best NET INTEREST MARGIN stats in 26 quarters. There has also been a reduction in provisioning.
Better than expected earnings, cigarette volume growth
ITC posted good results in the first quarter. There has been a growth of 37 per cent in earnings and 30 per cent in cigarette volumes. Both figures are better than expected. Margins have also shown improvement. On the other hand, there was a jump of 28% in profit but PROFIT has been less than the estimate.
RIL profit up 66%
The results of RELIANCE INDUSTRIES lived up to the guesswork. The company’s consolidated profit grew more than 66% in the first quarter. The EBITDA has also seen an increase of about 28%. The PROFIT of the retail business has doubled. At the same time, the EBITDA record of DIGITAL SERVICES has reached 9268 crores.
07: 10 AM
Global cues weak for the market
Global cues look weak on the first day of the week. In Asia, Nikkei has jumped a quarter of a percent but SGX NIFTY is trading down half a percent. There has also been pressure on DOW FUTURES, although there was a record rally in the US markets on Friday. The DOW, S&P and NASDAQ closed at new highs.
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