Nifty futures have been trading 69.50 points or .44 per cent greater at 15,797.50 on Singaporean Exchange, suggesting a positive get started for BSE Sensex and Nifty 50 on the 1st day of the week. Asian peers have been seen trading up to 2 per cent, on the back of gains on Wall Street. US principal indices posted record closing highs in overnight trade on Friday. According to technical analysts, Nifty/Sensex held 15635/ 52250 help and reversed sharply which indicates a robust possibility of a fast pullback rally from present levels. “The texture of the chart suggests 15635/52250 would be the sacrosanct level for the bulls and as long as it’s trading above the same pull back likely to continue up to 15800-15850/52750/52850. Further upside may also continue which could lift the index till 15900/ 53100. On the flip side, below 15635/52250 we can expect one more leg of correction up to 15500-15450/51800-51500,” stated Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Stocks to watch
HCL Technologies: HCL Technologies announced a 5-year, worldwide agreement to provide digital transformation and managed services to The Mosaic Company.As aspect of the agreement, HCL will handle and transform Mosaic’s worldwide application and infrastructure environments to boost the company’s agility and capacity to drive development in the marketplace.
HFCL, HMT: Steel Strips Wheels, HFCL, HMT, Amit Securities, Dr Lalchandani Labs, Indbank Merchant Banking Services, Ind Bank Housing, ISMT, SM Gold, and Welcure Drugs & Pharmaceuticals will announce April-June quarter earnings on July 12.
Maruti Suzuki: Maruti Suzuki India Limited shoppers can now finance their vehicles on the net, anyplace and anytime, with Maruti Suzuki Smart Finance. Maruti Suzuki Smart Finance is now made offered for ARENA as properly as NEXA shoppers. It is also offered pan India. It covers a wide variety of profiles to meet the demands of a diverse variety of shoppers.
Avenue Supermarts: DMaet operator reported sharply greater standalone profit at Rs 115.13 crore in Q1FY22 against Rs 49.56 crore in Q1FY21.
BPCL: A two-decade-old LPG provide order restricting provide of domestically made LPG to only state-owned oil firms has stymied plans to enable Bharat Petroleum Corporation Ltd to continue promoting subsidised cooking gas (LPG) soon after its privatisation.
IDBI Bank: The government has extended the deadline for transaction and legal advisors to bid for managing the IDBI Bank strategic sale by 9 days till July 22. The Department of Investment and Public Asset Management (DIPAM) had on June 22 invited bids from merchant bankers and law firms for managing and providing legal suggestions for the sale approach.