Nifty Trading Plan 18 Mar

NIFTY Spot View: 18/03/2024
CMP: 22023.35
Moving AVG (EMA) 20 Hour & 40 Hour: 22071 & 22151
Moving AVG (EMA) 20 Day & 40 Day: 22145 & 21952
Support & Downside Range: 21970—21905—21837--21615
Resistance & Upside Range: 22055—22145—22215—22256 Zone, 22317
Short Term Trend Reversal Level: -- 22526

Don't forget to check our bank nifty option tips and start making profit on a daily basis.

Trading View Summary:
•  In today's intraday trading session key level to watch is 21970 support, after opening if 21970 manage to hold then we may immediate moves upside towards minimum 22055 to 21245 & maximum 22215 to 22256 spot levels.
•  After opening if 21970 fail to hold then we may see some downside pressure till minimum 21905 to 21837 & maximum 21615 spot levels.

Nifty Closing Guidance for 18/03/2024: CMP 22023.35

• Nifty low probability close remains at or below 21837 spot levels.

• Nifty high probability close remains at or above 22215 spot levels.

Key stock updates 

🔸 Auropharma  

 

CuraTeQ Biologics Private Limited, a wholly owned subsidiary of Aurobindo Pharma Ltd, announced that their Omalizumab biosimilar candidate BP11 has met the Phase 1 trial end points vis-à-vis the EU and US sourced reference product Xolair. 

 

🔸 SJVN 

 

The company gets Letter of Intent from GUVNL for 200 MW Solar Project". 

 

🔸 RVNL 

 

The company has received Letter of Acceptance from Maharashtra Metro Rail Corporation Limited for “Design and Construction of Elevated Viaduct of Length 4.519 Kms on the North-South Corridor of Pune Metro Rail Project. 

 

🔸 HAL 

 

The Ministry of Defence signed a contract with HAL for Mid Life Upgrade of 25 Domier Aircraft along with associated equipment for the Indian Navy at a cost of Rs.2,890 crores 

 

🔸 Dhanlaxmi Bank Limited 

 

Board meeting to be held on March 22, 2024, to consider an increase in the amount of the proposed Rights Issue of the Bank. 

 

🔸 Coforge 

 

The Board has approved raising of funds for an aggregate amount not exceeding Rs. 3,200 crores  

 

🔸 Concor 

The company and CWC Forge Strategic Partnership to supplement Logistics and Warehousing in India 

 

🔸 Balrampur Chini 

 

The company forges pivotal associations with key global players for its upcoming PLABioplastics manufacturing facility 

 

🔸 LIC 

 

The government has approved a 17% overall hike in wages for more than 1.10 lakh employees of the insurance giant.  

 

🔸 ITC 

 

The company entered into a share purchase agreement with its arm, Russell Credit, to acquire a 45.36% stake in International Travel House