Nifty Yesterday Close 9199.05. Nifty Likely to open positive following the cues taken from the global market on while SGX Nifty futures is trading higher at 9300. Major World Indices are showing gains with US & Europe trading higher yesterday by higher than expected earnings reports & latest jobless claim figures.
Fresh Gas Leaks are reported in LG Chem Vizag Plant today, following the Gas Leak in LG Chem Plant-Vizag, Gas Leak was reported in a Paper Mill from Raigarh-Chattisgarh and Boiler Blast at the NLC-Neyveli-Tamil Nadu yesterday.
Oil prices are still hovering at around $30/barrel. US 10Yr bond yield is trading lower at 0.64% vs 0.68%. US-China plans to have a call next week on trade to cool-off the tensions. US ADR were mixed with ICICIBk, TataMotor, VEDL & INfy in Green with HDFCBk, Wipro & DrReddy in red trades yesterday. Stocks to Watch SBI Cards, Shree Cement, Adani Gas, Reliance Capital, P&G.
Vista Equity Partners plans to pick 2.3% stake in Reliance JIO for 11311.5 Cr, the 3rd high profile investment news in the Heavyweight, and news on Reliance Industries planning to sell its Stake in Asian Paints for $989 Mn to trim debt. With RBLBank, Gillette reporting a decline in net profits ICICI Securities reported 1.28% jump in its bottom-line. Societe Generale picked up 1.29 Cr shares in HUL.
While FII and DII net turned buyers in Equity, we need to see how much is the HUL stake impact. Nifty PCR has gone down to 1.15 from 1.3. Nifty Futures had seen a 25%increase in OI, while BankNifty had seen a 4% decline in OI. Nifty weekly expiry max OI Seen in 9500CE & 9000PE, we should keep a close watch on 9014-9485 in today`s trade.
Based on our Proprietary Algorithm, Pivotal Support for Nifty is at 9145, 9084 & 9034, while Resistances are at 9352, 9404 & 9438. Stocks to watch are PVR, Nestle, HUL, Reliance, IndusInd, NIITTech, HeroMotoCo, Pidilite & Escorts.
