Nifty Ignoring World Markets & Driven by Retail Traders

NIFTY Spot View: 21/02/2024
CMP: 22196.95
Moving AVG (EMA) 20 Hour & 40 Hour: 22106 & 22018
Moving AVG (EMA) 20 Day & 40 Day: 21823 & 21595
Support & Downside Range: 22080—22020 zone, 21935--21855
Resistance & Upside Range: 22301—22340 zone, 22505
Short Term Trend Reversal Level: -- 21533

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Trading View Summary:
•  In today's intraday trading session key level to watch is 22130 spot levels as long as nifty remains above this support zone its intraday bias remains bullish for upside minimum 22301—22340 & max 22505 projection.
•  After opening if 22130 manage to break on 15 to 30 mins sustain basis then intraday bias turns sideway and nifty may trade between 22130 to 22020 spot levels most of the time of the day.
•  Fresh weakness starts in market only & only if nifty starts trading below 22020 spot levels.

Key stock updates 

🔸 Wipro ltd 

 

Wipro and IBM Expand Partnership to Offer New AI Services and Support to Clients. 

 

🔸 Zee Entertainment 

 

The company clarified that it is not involved in any negotiations in relation to the Sony merger deal.  

 

🔸 Granules India 

 

The Company extended a corporate guarantee to State Bank of India Limited for securing the term loan facility its Indian subsidiary  

 

🔸 Ramkrishna Forgings Limited 

 

The company Forges ahead: Secures US$220 Million Contract to Supply to Light Vehicle Segment Across North America  

 

🔸 Hindalco Industries  

 

The company's wholly-owned American subsidiary Novelis Inc, has filed confidentially for an initial public offering with the U.S. SEC 

 

🔸 Swan Energy 

 

The Rs 4,000 crore QIP opened on Tuesday at a floor price of Rs 703.29 per share.  

 

🔸 Union Bank of India 

 

The lender approved raising funds up to Rs 3,000 crore via QIP at a floor price of Rs 142.78 per share 

 

🔸 Varun Beverages Limited 

 

The company and PepsiCo Inc entered into an exclusive snacks appointment agreement to manufacture and package cheetos in the territory of Morocco as per details in the attached disclosure. 

 

🔸 ONGC 

 

The board approved a JV for compressed biogas plants with a seed equity contribution worth up to Rs 10 crore. 

 

🔸 MAX Healthcare 

 

The Company had acquired 99.90% equity stake in Alexis Multi-Speciality Hospital Private Limited and became a subsidiary of the Company 

 

🔸 DLF 

 

The company unit has acquired land parcels in Gurugram, Haryana for Rs 1,241 crore, enabling partial redemption of bonds for Rs 775 crore. The company’s unit has completed the registration and transfer of the first tranche of land parcels 

 

🔸 Minda Corp 

 

Competition Commission of India approved the acquisition of an 8.8% stake in Pricol 

 

🔸 Ashok Leyland 

 

The company will set up a new integrated commercial vehicle plant focused on green mobility in Uttar Pradesh 

 

🔸 NTPC 

 

NTPC Green Energy signed an agreement with the Andhra Pradesh government to develop a green hydrogen hub in Visakhapatnam, which includes the construction of a production facility for 1,200 tonnes per day.