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Equity Market Picking News

The markets seemed strong in first half of the session, but lost the shine in the later half as if cautiousness prevailed ahead of Jan F&O Expiry series and US Fed meeting outcome; overall indices undergone a range bound session which resulted in flat closing for the day. Nifty future is facing stiff resistance of 7500 above which it can result in some upside movement. On the lower side, if it sustains below 7400 then it may dip towards 7350. Volatility is expected due to F&O Expiry.
TREND: SIDEWAYS:
SUPPORT : 7390 & 7340
RESISTANCE: 7470 & 7510
MARKET GOSSIPS:

  • Market ends on a flat note ahead of derivatives expiry.
  • PSU Banks were in demand; Union Bank, Oriental Bank gains 5%.
  • Aurobindo Pharma tanks despite receives nod from USFDA for anti-fungal tablets.
  • Apollo Hospitals to sell 23.3 pct stake in Apollo Munich Health Insurance; stock dips.
  • NBCC gains as bags order worth Rs 21.49 billion from ITPO.
  • Havells reported 4% jump in Q3 profit; margin hit by advertising expenses.

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