Virendra Kumar of CNBC-Awaaz says that its resistance zone is 16466-510 and the larger resistance zone is 16560-16590. Base Zone 16323-16250 and Large Base Zone 16195-161161 Is. All the targets of 16649-671 have been achieved in the last weekly contract. The downside is good till the technical base zone is sustained. According to SGX Nifty will open near 16500-16400 base zone. If 16323-16195 hinges after Gap Down then take a pullback trade. 16323 is the breakout point of August 12th and 16195 is the 20 DEMA. If it stops above this, the pullback will play out from the 16500 call. Just think of the short under 16169.
strategy on bank nifty
Virendra Kumar says that Bank Nifty was showing weakness on Wednesday as well. The breakout of HDFC Bank has also failed and the breakout of Nifty Bank has also been weak. Keep an eye on 35000-34860 below, see if it holds up. 35000 option base, 34860 is the breakout of 3 August. If this zone is held, a pullback will be played from the 35500 call.
Prepaid smart meters will be installed in every household by 2025
The government has taken a big decision to prevent power theft and loss of discoms. By the year 2025, every household will have a prepaid SMART meter. With the release of the notification, action will increase in companies like SCHNEIDER ELECTRIC, GENUS POWER, HBL POWER, ADANI TRANS, TATA POWER today.
Crude prices fall, Brent below $67
Due to the fear of falling demand due to Covid, crude prices are seeing a decline for the sixth consecutive day. Brent’s price has slipped below $67. Keep an eye on the stocks of ONGC, HOEC and Paint companies today.
JLR demand expected to increase
Tata Motors expects demand for JLR to increase. In an EXCLUSIVE conversation with CNBC-TV 18, he said that there are some challenges on the supply side but things may get better in the second half of FY22. Margins have been impacted by rising steel prices.
CARTRADE TECH will be listed today
The listing of CARTRADE TECH will be done today. The issue price of the IPO is Rs 1618. The IPO was filled more than 20 times.
Global cues weak for the market
Global cues are looking weak for the market. Asia has started under pressure. SGX NIFTY is trading up a quarter percent today but the market can ADJUST on Wednesday’s fall. On the other hand, the DOW in America has slipped for the third consecutive day. There is panic over a sluggish recovery in the economy and fears of a slowdown in the Fed’s bond buying program.
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