Nifty Trading Guide 07 Mar

NIFTY Spot View: 07/03/2024
CMP: 22474.05
Moving AVG (EMA) 20 Hour & 40 Hour: 22357 & 22311
Moving AVG (EMA) 20 Day & 40 Day: 22104 & 21862
Support & Downside Range: 22430—22390—22360--22315
Resistance & Upside Range: 22525—22555—22625—22678
Short Term Trend Reversal Level: -- 22225

Trade like a pro with our bank nifty option tips and you can start with a small capital of Rs 10000 to get started.

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 

🔸 Infosys 

 

The company and ATP Renew Partnership until 2026 to Drive AI-first Innovations in Professional Tennis 

 

🔸 Cyient 

 

Cyient joins a rapidly expanding network of businesses as an eSync Alliance member. 

 

🔸 HAL 

 

The Company has signed an amendment to the LCA IOC Contract. The value of the Contract has been revised from Rs.2700.87 Crore to Rs.5077.95 Crore.  

 

🔸 Indiabulls Housing Finance  

 

Moody’s Investors Service has upgraded Indiabulls Housing Finance Limited’s long-term corporate family rating to B2/Stable from B3/Stable. Moody’s has also upgraded the company’s foreign and local currency ratings on its senior secured medium- term note (MTN) program to (P)B2 from(P)B3. 

 

🔸 HCC  

 

The board meeting to be held on March 12, 2024 inter alia to consider, discuss and decide various matters in connection with the Rights Issue, including the specific terms of the Rights Issue, such as the determination of the Rights Issue price and related payment mechanism, rights entitlement ratio, the record date and timing of the Rights Issue.  

 

🔸 Jupiter Wagons Ltd 

 

The Company has received an offer from Ministry of Railways to manufacture and supply of 2237 numbers of BOSM Wagons for a contract value of Rs. 956 crores  

 

🔸 LIC 

 

The company has increased its shareholding through private placement basis in LIC Mutual Fund Asset Management Limited, shareholding of the company in LIC MF has increased from 40.93% to 44.61% of the paid-up capital  

 

🔸 Exide Industries 

 

The company will invest Rs 70 crore in unit Chloride Metals to finance long-term capital requirements

🔸 NLC India

 

The government on Wednesday said that it plans to sell up to 7% stake in NLC India through an offer for sale, and has set the floor price for the same at Rs 212 a share. 

 

🔸 Tata Motors

 

Moody's Investors Service has affirmed its “Ba3” corporate family rating on Tata Motors, and also maintained “positive” outlook, following the automaker’s move to demerge the commercial and passenger vehicles businesses. 

 

🔸 Mahindra and Mahindra

 

Mahindra and Mahindra clarified on reports that Prudential Media & Services is considering sale of company's shares through block deal. 

 

🔸 UPL

 

UPL's arm UPL Corp Mauritius has entered into a share subscription agreement to set up a manufacturing complex in Saudi Arabia for the production of phosphate, cyanide and chlorine value added products.