Nifty Trading Plan for 11 Mar

NIFTY Spot View: 11/03/2024
CMP: 22493.55
Moving AVG (EMA) 20 Hour & 40 Hour: 22431 & 22370
Moving AVG (EMA) 20 Day & 40 Day: 22141 & 21893
Support & Downside Range: 22430—22390—22360--22315
Resistance & Upside Range: 22525—22555—22625—22678
Short Term Trend Reversal Level: -- 22225

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

Trading View Summary:
•  In today's trading session key level to watch is 22430 as support, after opening if 22430 manage to hold then we may immediate moves upside towards minimum 22525 to 22555 & maximum 22625 to 22678 spot levels.
•  After opening if 22430 manage to break on 15 mins sustain basis then we may see a small pull back of yesterday's move which started from 22225 low & in that case we may see downside minimum 22390 to 22360 & maximum 22315 spot levels & if nifty comes to this downside levels then this support levels will act as bulls buying zone by keeping 22225 as pattern negation level.
•  Now 22225 & 21860 has become our new trend reversal support zone as long as nifty remains above this support zone overall market trend remains positive & buy on dips.

Key stock updates 

🔸 Tata Technologies limited 

 

The company has collaborated with the Government of Telangana to transform 65 Industrial Training Institutes (ITIs) into Skill Development Centre 

 

🔸 H.G. Infra  

 

The Company has received the letter of acceptance from the NHAI for the construction of 4 lane elevated corridor under NH(O) on EPC mode in the state of Jharkhand with an estimated cost of Rs. 610.11 crores 

 

🔸 Dwarikesh Sugar 

 

The Board of Directors of the company approved a buyback offer of 30,00,000 fully paid-up equity shares of face value Re. 1 and buyback offer price of Rs. 105 per equity share. The record date is 20th March  

 

🔸 TGV Sraac ltd 

 

The company has received acknowledgement from Ministry of Commerce production capacity increase in response to their application. The plant capacity for Caustic Soda has been increased from 259150 MTs to 332150 MTs per annum

 

🔸 Transport Corporation of India Ltd 

 

Company has entered into a definite agreement for building of two Cellular Container Vessels of ~7300 MT DWT each for a total contract price of ~USD 34 million. 

 

🔸 Vedanta 

 

The company received warning related to publishing information relating to unlisted ultimate holding company from SEBI.  

 

🔸 InterGlobe Aviation 

 

Promoter Rakesh Gangwal will sell up to a 3.3% stake in the company worth at least Rs 3,729 crore, at a floor price of Rs 2,925  

 

 

🔸 Dilip Buildcon Ltd 

 

The Company has been declared as L-1 bidder for the tender floated by the National Highways Authority of India on hybrid annuity basis in the state of Tamil Nadu 

 

🔸 HAL 

 

According to a news item published in The Economic Times on 7th March, 2024 titled "Cabinet Committee on Security clears 34 new Dhruv choppers for Indian Coast Guard, Army" to be manufactured by Hindustan Aeronautics Limited 

 

🔸 TVS Motor 

 

The company is showcasing its product range for Europe at the Salon du Deux Roues, Lyon till March 10, 2024. In being present at one of Europe’s premier auto expos, TVS Motor has announced its presence in France.