Strategy on NIFTY
Virendra Kumar of CNBC-Awaaz says that its registration zone is 15036-15089, the larger registration zone is 15134-15180. The base zone is 14890–14868 (10DEMA) and the larger base zone is 14800–14794 (20DEMA). Do not SHORT until 14800 remains. There was pressure of expiry in the last hour yesterday. Hold call 15100. Longer the new 15020 exit. The averages are coming up, be aware of FRIDAY FACTOR. Today’s trading range is 15134-14950. Above 15134 there will be major shortcovering.
Strategy on NIFTY BANK
Its registration zone is 33610-33735. Larger registration zone is 33891-34040. Its base zone is 33151-33062 (10 / 50DEMA). The larger base zone is 33000–33972 (20DEMA). Yesterday due to expiry, there is pressure in the last hour. 10,20,50 DEMAs are coming between 33151-33972. Bank Nifty will strengthen above 33610. Shop if you see 33610 ticking.
Know today’s trading calls
Religare Broking Limited
BUY DLF @CMP(266) SL 261 TGT 284
Sell JSW Steel fut nr 700 SL -725 TGT-650
Motilal Oswal Financial Services
Buy India Cement SL -191 TGT-206
Corona: new cases 2.59 lakhs, recovery 3.57 lakhs
The number of active cases of Corona reached below 31 lakhs in the country. There has been more recovery from the new case on the 8th consecutive day. Yesterday, about 2 lakh 60 thousand cases were reported while more than 3 and a half lakh patients were cured.
SBI’s profit may increase by 88%
Today SBI’s fourth quarter results will come. 88% jump in profits can be seen, improvement in Asset Quality is also possible. The results of JSW STEEL, HINDALCO and SHREE CEMENT will also be awaited.
HPCL Q4 Results Great
HPCL produced impressive results in the fourth quarter. Profits and margins have been higher than anticipated. GRM is also better than expected with $ 7.7.
Softening in crude and rising in gold
Crude prices have fallen by 2 per cent on reports of increased supplies from Iran and Brent has reached close to $ 65. On the other hand, softening of the US bond yield and the dollar has led to the rise of gold. The COMEX GOLD has crossed the $ 1875 mark. The sentiment has reached the height of 4 months.
Shopping returned to US market
Global signs have been good on the last day of the week. Tech stocks are seeing a boom in the US market after three days. The DOW has jumped nearly 190 points. Asian markets have got off to a strong start. SGX is showing 130 points in NIFTY.
For social media updates, we need Facebook (https://www.facebook.com/moneycontrolhindi/) And Twitter (.).