NIFTY Spot View: 26/02/2024
CMP: 22212.70
Moving AVG (EMA) 20 Hour & 40 Hour: 22163 & 22110
Moving AVG (EMA) 20 Day & 40 Day: 21912 & 21674
Support & Downside Range: 22163—22136 zone, 22085—22000
Resistance & Upside Range: 22250—22280 zone, 22325—22445—
Short Term Trend Reversal Level: -- 21875
Trading View Summary:
• In today's intraday trading session key level to watch is 22163—22136 support zone after opening if this support manage to hold then we may immediate move upside towards minimum 22250 to 22280 and max 22325 to 22445 spot levels.
• After opening if 22163—22136 fail to hold then we may see more dip pull back till minimum 22085 to 22200 spot levels & this support zone should act as buying zone by keeping 21875 as pattern negation level.
• Here 21875 will act as our trend reversal & cautious support as long as this holds on a larger note bullish trend remains intact.
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Key stock updates
🔸 HDFC Bank Ltd
The RBI has granted its approval to the application submitted by HDFC Credila for the proposed change in control and consequent change in the constitution of the board of directors of HDFC Credila pursuant to the Proposed Transaction
🔸 Sona BLW precision forgings ltd
India Ratings & Research has upgraded the Company’s Long-Term Rating on bank facilities to ‘IND AA+/Stable’ from ‘IND AA’/Positive
🔸 SUPREME INDUSTRIES LTD
The company has signed a Power Delivery Agreement (PDA) and Security Subscription and Shareholder Agreement (SSSHA) for 33.75 Mwp (25 Mw) Solar Power under Captive Mode with O2 Renewable Energy XIV Private Limited.
🔸 Skipper
The company bags fresh new order of Rs. 737 crores from PGCIL
🔸 GE Power India Limited
The company has received a purchase order from Tata Power Company Limited. The Base value as INR 6.75 crores
🔸 Infibeam Avenues Ltd
The company expands global foothold with 20% strategic stake in US-based XDuce to penetrate the US Markets with CCAvenue payment gateway and PhroneticAI Solutions"
🔸 Kotak Mahindra Bank
Zurich Insurance Company plans to buy a 70% stake in Kotak Mahindra General Insurance Company for Rs 5,560 crore via primary and secondary acquisitions in a single tranche.
🔸 Housing and Urban Development
To reach 25% of the minimum public shareholding, the government plans to sell up to 0.17% of the stake over a period of 12 months. It currently holds 75.17% equity in the developer.
🔸 Union Bank of India
The company approved Rs 135.65 per share as the issue price of the share. The QIP is fully subscribed.
🔸 Ashok Leyland
The company acquired a 49.9% stake in TVS Trucks for Rs 24.95 crore to strengthen the company’s automotive business
🔸 Suven Pharmaceuticals
The USFDA conducted an inspection at the company’s plant from Feb 12 to Feb 23 and no Form 483 has been issued because of the inspection
🔸 Shakti Pumps
The company has received its 3rd work order under the KUSUM-3 scheme from Haryana Renewable Energy Department for 2443 pumps. The total amount of the work order is for around Rs. 84.30 crores