Analysts think that for the subsequent handful of trading sessions, 12810 need to be the sacrosanct level for the trend following traders
Nifty futures have been trading 3.50 points down at 12,989.50 on Singaporean Exchange, suggesting a gap-down get started for BSE Sensex and Nifty 50 on Tuesday. Investors will react to Septemeber quarter GDP information, which was released just after industry hours on Friday, final week. Apart from this, November auto sales information will get started pouring in from now. Market participants will also await the outcome of RBI policy meeting, the release of manufacturing and solutions PMI information this week. Analysts think that for the subsequent handful of trading sessions, 12810 need to be the sacrosanct level for the trend following traders. “If it sustains above the same then uptrend texture is likely to continue up to 13050. And any further upside could lift the index up to 13200 levels. On the flip side, dismissal of 12810 could trigger correction up to 12700-12650 levels,” stated Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Stocks in concentrate now:
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Maruti Suzuki, Bajaj Auto: Auto organizations shares would be in concentrate now as November sales information would get started coming. Stocks such as Maruti Suzuki, Hero MotoCorp, Tata Motors, M&M will be keenly watched.
Bank stocks: Banks and monetary stocks would stay in concentrate now as RBI’s two-day Monetary Policy Committee (MPC) meeting will commence tomorrow. Analysts count on RBI MPC to maintain the interest prices unchanged for the third straight time.
Aditya Birla Fashion and Retail: The business informed that the industrial papers (CP) quantity has been duly paid on November 27, 2020.
ICICI Lombard General Insurance Company: The business in an exchange filing informed to obtain in-principle approval of The Insurance Regulatory and Development Authority of India (IRDAI) to the draft scheme of arrangement involving ICICI Lombard General Insurance Company and Bharti AXA General Insurance Company.
Glenmark Pharmaceuticals: Glenmark Pharmaceuticals announced that it has entered into a definitive agreement with Dr. Reddy’s Laboratories Ltd. to divest its brand Momat Rino (for Russia, Kazakhstan and Uzbekistan), Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), Glenspray and Glenspray Active (for Ukraine), along with rights to the trademarks, dossiers and patents for the territories pointed out.