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Oct 20, 2023
Cipla shares fall over 6% after its unit gets 8 observations from USFDA

Shares of Cipla on Monday ended over 6 per cent lower after the company received ‘Form 483’ with eight observations for its Pithampur-based manufacturing facility. The stock declined 6.02 per cent to settle at Rs 964.05 apiece on the BSE. During the day, it tumbled 6.78 per cent to Rs 956.20. On the NSE, it tanked 6.11 per cent to end at Rs 963 per share.

In volume terms, 2.38 lakh shares were traded on the BSE and over 58.29 lakh shares on the NSE during the day.

On conclusion of the inspection, the company has received eight inspectional observations in Form 483, it added. The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time, it said. As per USFDA, Form 483 is issued to a firm’s management at the conclusion of an inspection when the investigator has observed any conditions that in its judgment may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

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Oct 18, 2023
SC seeks views of Centre, SEBI on Hindenburg report on Adani firms

The Supreme Court Friday said there should be a robust mechanism to ensure that the interests of Indian investors are protected in the stock market and sought views of the Centre and market regulator SEBI on PILs alleging exploitation of innocent investors and “artificial crashing” of the Adani Group‘s stock value.

A bench headed by Chief Justice D Y Chandrachud sought inputs from the Finance Ministry and others on various issues, including on making the regulatory mechanism robust to protect the interests of investors in the market where capital flow is seamless in modern times.

The bench, also comprising justices P S Narasimha and J B Pardiwala, suggested forming a committee of domain experts and others, besides putting in place “robust practices to protect investors”.

The Solicitor General, appearing for the Securities and Exchange Board of India (SEBI), said the market regulator and other statutory bodies were doing the needful.

The court said it was “just thinking aloud” and not making any observation on the merits of the case as “the stock markets usually run on sentiments”.

It then listed the two PILs, seeking various reliefs including a probe into the Hindenburg report, for hearing on February 13.

One of the PILs, filed by lawyer Vishal Tiwari, has sought a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire and investigate into the Hindenburg Research report which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.

Also Read: Adani Total Gas, Page Industries among 114 BSE stocks to touch 52-week lows, 74 stocks hit 52-week highs

Another PIL, filed by advocate M L Sharma, seeks prosecution of short-seller Nathan Anderson of the US-based Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the “artificial crashing” of the Adani Group’s stock value in the market.

Sharma has sought directions for declaring short selling an offence of fraud against the investors, to be prosecutable under section 420 (cheating) of the Indian Penal Code (IPC), read with provisions of the SEBI Act.

Adani Group stocks have taken a beating on the bourses after the Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate.

The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

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Oct 17, 2023
NSE FO ban: Ambuja Cements, Indiabulls Housing Finance and others under ban on Thursday, February 16, 2023

The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to four stocks/securities on Thursday, February 16, 2023. BHEL, Indiabulls Housing Finance, Ambuja Cements and Punjab National Bank (PNB) are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Thursday. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

Earlier, on Wednesday, the total number of contracts traded in Index futures was 2,82,238 with a turnover of Rs 27,285.47 crore; while contracts traded in stock futures were 8,65,117 with a turnover of Rs 56,718.46 crore.

The same stocks, BHEL, Indiabulls Housing Finance, Ambuja Cements and Punjab National Bank (PNB) were put on the F&O ban earlier on Wednesday, February 15, 2023. The domestic equity indices ended the previous session broadly in green with BSE Sensex rising 242.83 pts or 0.40% to 61,275.09 and NSE Nifty 50 jumped 86.00 pts or 0.48% to 18,015.85.

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Oct 16, 2023
Market Outlook: Nifty, Sensex end in red; markets following global cues, traders should restrict positions

Indian benchmark indices closed on a negative note on Friday. BSE Sensex dropped 316.94 points to settle at 61,002.5 while Nifty lost 0.5%, closing under the 18,000 level at 17,944. After the initial downtick, the Nifty index tried to pare losses but continuous selling in the banking majors combined with a downtick in the IT majors pushed the index lower. The broader markets also closed largely in the red, as Nifty Oil & Gas was the only sectoral gainer. Bank Nifty declined 1.2%, dragging the indices.

Markets Decoded: Indian markets following global cues

Interest rates to remain high: Vinod Nair, Geojit Financial ServicesLack of major triggers in the domestic market is attracting global cues to dictate the market trend. The US market is facing an unfavourable combination of higher-than-expected inflation and a stronger job market. The PPI (Producer Price Index) in the US came in at 6.0%, in contrast to the expectation of 5.4%. This suggests that interest rates have not yet peaked and will remain elevated for a long period.

Nifty Technical View: Markets witnessing turbulence

Selling pressure to accelerate under 17,900: Amol Athawale, Kotak SecuritiesMarkets witnessed turbulence on the back of weak global cues as investors booked profit in banking, IT and telecom stocks. Rising inflation, US bond yields, and dollar index are once again creating a lot of uncertainty amongst the investors. For the bulls, 17,900-17,800 or 20 day SMA would act as a key support zone while 50 day SMA or 18,100 and 18,200 could be the immediate hurdle. On the flip side, the selling pressure could accelerate if the index slips below 17,800 and in case of further correction, it could slip to 17,700-17,650.

Nifty to remain sideways: Rupak De, LKP SecuritiesNifty has fallen to the upper band of the falling channel on the daily chart. The trend for the near term is likely to remain sideways to positive as long as it remains above the falling channel. A recovery towards the higher level will likely happen if the bulls manage to hold the Nifty above 17,880. On the higher end, however, 18,150 is likely to act as resistance.

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Oct 15, 2023
Bhadra Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

As anticipation mounts for the upcoming Bhadra Constituency Election in Rajasthan, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Bhadra Constituency Assembly Election 2023 that every voter should be aware of.

Bhadra Constituency Rajasthan Assembly Election 2023: Voting Date

The voting date for the Bhadra Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Bhadra Assembly Constituency will go to polls on November 25. Stay tuned for updates as we bring you the latest information.

Bhadra Rajasthan Election 2023: Candidates

Watch this space as prominent political parties, including the Communist Party Of India (marxist) (CPM)Bharatiya Janata Party (BJP)and Indian National Congress(INC) along with others, are poised to reveal their candidates for the Bhadra Assembly Constituency Election 2023 post the official declaration of voting dates by the Election Commission of India.

Stay informed as we bring you the latest updates on the Bhadra Assembly Constituency Election 2023, keeping you abreast of all the developments and insights that matter to you.

Bhadra Constituency RJ Election Result: What happened in 2018

Balwan Poonia from Bhadra of Rajasthan, won the seat with 82204 votes. He defeated Bharatiya Janata Party’ Sanjeev Kumar who had polled 59051 votes. The winning margin was 23153 votes.

2018 Bhadra Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesBalwan PooniaCommunist Party Of India (marxist)82204

Candidate List Party Name Votes Gained (Vote %) Balwan Poonia Communist Party Of India (marxist) 82204 (40.67%) Sanjeev Kumar Bharatiya Janata Party 59051 (29.21%) Dr Suresh Choudhari Indian National Congress 37574 (18.59%) Roop Nath Bahujan Samaj Party 15581 (7.71%) None Of The Above None Of The Above 2300 (1.14%) Prem Singh Poonia Independent 1465 (0.72%) Pratap Singh Independent 1162 (0.57%) Ramswaroop Independent 711 (0.35%) Vishvajeet Singh Independent 624 (0.31%) Rajesh Kumar Independent 524 (0.26%) Bhagirath Independent 348 (0.17%) Manoj Kumar Independent 297 (0.15%) Balwan Singh Independent 295 (0.15%)

Bhadra Constituency RJ Election Result: What happened in 2013

In the Rajasthan Assembly election of 2013, Sanjeev Kumar won from the Bhadra seat garnering 65040 votes and defeated Communist Party Of India (marxist) candidate Balwan Singh Poonia who bagged 38552 votes. The candidate who came third was Bahujan Samaj Party’ Sukhdev Singh Shekhawat.

Sanjeev Kumar got 65040 votes while Balwan Singh Poonia got 38552 votes.

2013 Bhadra Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesSanjeev KumarBharatiya Janata Party65040

Candidate List Party Name Votes Gained (Vote %) Sanjeev Kumar Bharatiya Janata Party 65040 (35.39%) Balwan Singh Poonia Communist Party Of India (marxist) 38552 (20.98%) Sukhdev Singh Shekhawat Bahujan Samaj Party 33666 (18.32%) Hazy Daud Independent 16720 (9.1%) Jaideep Indian National Congress 11680 (6.36%) Sandeep Independent 5653 (3.08%) Sarita Choudhary Independent 3666 (1.99%) Surya Prakash Independent 1668 (0.91%) Satavir Dhayal National Unionist Zamindara Party 904 (0.49%) None Of The Above None Of The Above 882 (0.48%) Liluram Independent 848 (0.46%) Gyan Singh Independent 835 (0.45%) Satveer Singh National People’s Party 676 (0.37%) Partap Singh Rashtriya Lok Dal 626 (0.34%) Rampal Bharat Nav Nirman Party 601 (0.33%) Bhan Singh 582 (0.32%) Pradeep Kumar Jago Party 421 (0.23%) Sher Singh Bharatiya Bahujan Party 284 (0.15%) Masud National Loktantrik Party 255 (0.14%) Vijender Singh Rajasthan Vikas Party 212 (0.12%)

Bhadra Constituency RJ Election Result: What happened in 2008

Jaideep of the IND was the winning candidate from the Bhadra constituency in the RJ Assembly elections 2008, securing 76071 votes while 40796 votes were polled in favour of Sanjeev Kumar of the INC. The margin of victory was 35275 votes.

2008 Bhadra Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesJaideepIND76071

Candidate List Party Name Votes Gained (Vote %) Jaideep IND 76071 (49.3%) Sanjeev Kumar INC 40796 (26.44%) Balwan Singh Poonia CPM 14534 (9.42%) Malu Ram Goswami BSP 13851 (8.98%) Bhim Singh INLD 4963 (3.22%) Rampal IND 2073 (1.34%) Satpal BHBP 1083 (0.7%) Ramesh Kumar JGP 508 (0.33%) Ravinder Nath SP 433 (0.28%)

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Oct 14, 2023
Extended trading hours for share markets: Here’s why traders are anxious; Nithin Kamath, others weigh in

The trading hours for interest rate derivatives have been extended by the National Stock Exchange (NSE) until 5 pm, with effect from 23 February. NSE is also mulling increasing trading hours for the equity and equity derivatives segments as well, and is seeking feedback from members and traders, according to media reports. Some investors are in favour of the decision, but others are against it.

Against increasing equity and equity F&O trading hours

While the move can attract more people towards intraday trading since the traders will get more time to track their position, it can also lead to slow movement and low liquidity, said Naveen Mishra, Senior Research Analyst – Equity Research, CapitalVia. He added, “Since stock brokers must execute orders for their clients, they will have more work, which will put more strain on their dealers and raise costs.”

Karthik Rangappa, VP of Zerodha Varsity, added onto Kamath’s tweet, stating that when he traded FTSE for extended hours, he “had zero life outside of the markets”. Harshubh Shah, Director, Wealthview Analytics tweeted that if the timings are extended, he will quit his trading career of 14 years, as he doesn’t want to put money over health.

For increasing equity and equity F&O trading hours

Since economies are highly connected and global markets are seeing a higher level of integration and correlation, the Indian stock market looks outward for international cues and reacts to developments in major economies across the world. “Markets which have longer trading hours can hedge the risk arising due to the global information flow in a more efficient way. Therefore, any move by NSE to increase the trading time for the equity segment will help the market participants and retail investors,” said A Balakrishnan, Executive Director, Geojit Financial Services.

In an old research paper, the Securities and Exchange Board of India (Sebi) also accounted for the impact that global connectivity has on the Indian securities market. The board stated that since certain countries have longer trading hours, the participants are able to hedge their risk effectively against all information.

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Oct 12, 2023
Share Market Highlights: Nifty under 17950, Sensex down 300 pts, snap 3-day winning streak; Bank Nifty 1.2% lower

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices closed on a negative note on Friday. BSE Sensex dropped 316.94 points to settle at 61,002.5 while Nifty lost 0.5%, closing under the 18,000 level at 17,944. The broader markets also closed largely in the red, as Nifty Oil & Gas was the only sectoral gainer. Bank Nifty declined 1.2%, dragging the indices.

Live Updates 15:55 (IST) 17 Feb 2023 Indian markets following global cues

Lack of major triggers in the domestic market is attracting global cues to dictate the market trend. The US market is facing an unfavourable combination of higher-than-expected inflation and a stronger job market. The PPI (Producer Price Index) in the US came in at 6.0%, in contrast to the expectation of 5.4%. This suggests that interest rates have not yet peaked and will remain elevated for a long period.

– Vinod Nair, Head of Research at Geojit Financial Services.

15:35 (IST) 17 Feb 2023 Markets at close

Indian benchmark indices closed on a negative note on Friday. BSE Sensex dropped 316.94 points to settle at 61,002.5 while Nifty lost 0.5%, closing under the 18,000 level at 17,944.

14:08 (IST) 17 Feb 2023 Markets in red

Indices extended their decline as Nifty fell 125 points to 17,911, paring some losses from its intraday low under 17,900. Sensex slipped 468 points to 60,851.

13:15 (IST) 17 Feb 2023 Bank Nifty falls 1.6%

The banking stocks index fell 1.6% in trade on Friday. Bandhan Bank, IndusInd Bank, Bank of Baroda, AU Small Finance Bank dropped the most, with Bandhan Bank down 3.06%.

12:41 (IST) 17 Feb 2023 Outlook on domestic markets

With progressive Union Budget, capex cycle revival and healthy credit growth & asset quality in banking space, we retain our positive stance on domestic markets. We believe any dips should be used to build a long term portfolio of quality companies that have lean balance sheets, are capital efficient in nature and possess growth longevity.

– ICICIdirect

11:38 (IST) 17 Feb 2023 Further consolidation to help India become attractive again

A DSP MF report mentions that the recent flat performance of Nifty Index compared to a 26% rally in the MSCI Emerging markets index has resulted in the vanishing of the high valuation premium that India had over its emerging market peers. This is a positive development as foreign inflows in India had become muted lately due to high valuations. Further consolidation and steady earnings growth can cause India to become attractive once again as we progress into 2023. 

11:15 (IST) 17 Feb 2023 Gold prices hit one-month low

The price of the yellow metal has hit a 1-month low of $1835. The immediate fall in the price of gold is the result of the economic data in the US. The PPI data – a key inflation metric rose in January (MoM). This has led to concerns about Fed introducing more extensive rate hikes to control inflation. The data also pushed the Dollar index towards the 104 level, a higher dollar makes gold buying more expensive.

– Colin Shah, MD, Kama Jewelry

10:22 (IST) 17 Feb 2023 Continue positive bias

“Till the time Nifty remains above 17950 – 17900 on a closing basis, there is no reason to worry for. In fact, soon we would see Nifty challenging the recent hurdles of 18200 – 18250. Before this, 18100 – 18140 are to be seen as immediate resistances. Traders are advised to continue with a positive bias and should focus on stock specific actions.”

– Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One

09:36 (IST) 17 Feb 2023 Currency Strategy

The US dollar advanced on Thursday amid stronger-than-expected economic data from the US. Producer price index increased 0.7% MoM in January 2023, the most in seven months and higher than market forecasts of 0.4%. This raised expectations that the Federal Reserve would have to maintain its elevated interest rate higher for longer. Further, the dollar was supported on rising US 10 year’s treasury yields.

The rupee future maturing on February 24 appreciated by 0.20% amid FII inflows in domestic equity markets.

– ICICIdirect

09:23 (IST) 17 Feb 2023 Nifty uptrend stalled

“The uptrend stalled after peeping into the 18,050-18,110 region, marked down yesterday as the obstacle to clear if 18,300 is to be achieved. This downswing could extend as far as 17,890 before allowing bulls to regroup. Alternatively, a pull back above 18,035 could revive upside hopes, but a vertical rise is less expected.”

– Anand James, Chief Market Strategist, Geojit Financial Services

09:19 (IST) 17 Feb 2023 Markets at open

Indian benchmark indices opened on a negative note on Friday. BSE Sensex dropped 270.75 at 61,048.76 while Nifty lost 0.34%, giving up the 18,000 level at 17,975.

09:10 (IST) 17 Feb 2023 Nifty, Sensex fall in pre-open

Domestic equity indices NSE Nifty and BSE Sensex fall in the morning’s pre-open session. Sensex slid 325 points to 60,994, while Nifty dropped 0.3% to 17,977.

09:08 (IST) 17 Feb 2023 US Inflation worries

“Another hot inflation report that showed price pressures at the wholesale level rose more than expected in January. further fanning worries the Federal Reserve may raise interest rates faster and further than investors have been expecting. A pair of regional Fed bank presidents argued that a larger, half-point rise would have been justified when policy makers met earlier this month.”

– Deepak Jasani, Head of Retail Research, HDFC Securities.

09:06 (IST) 17 Feb 2023 Technical Levels

“The short-term uptrend status of Nifty remains intact and the market has started to face hurdles from near the highs of around 18,150-18,200 levels. Further decline from here could trigger minor weakness for the short term and a sustainable move above 18,150 levels could open more upside towards 18,250 levels,” said Najraj Shetti, Technical Research Analyst, HDFC Securities.

09:05 (IST) 17 Feb 2023 F&O Ban

The National Stock Exchange has BHEL, Punjab National Bank (PNB), Ambuja Cements and Indiabulls Housing Finance stocks on its F&O ban list for 16 February. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

09:05 (IST) 17 Feb 2023 FII/DII Data

Foreign institutional investors (FII) bought shares worth Rs 1,570.62 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,577.27 crore on 16 February, according to the provisional data available on NSE.

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Oct 12, 2023
Adani Transmission, Adani Green Energy among 142 BSE stocks to touch 52-week lows, 75 stocks hit 52-week highs

Benchmark indices BSE Sensex and NSE Nifty traded flat on Wednesday, as Sensex sank 0.11% or 64 points to trade at 60,628 while Nifty declined 14 points, at 17,824 level. Despite being broadly in red, the broader markets traded on a muted note. Reliance Industries, HDFC Bank, Adani Enterprises, ICICI Bank and HDFC are the most active Nifty 50 stocks intraday.

Nifty 50 Gainers and Losers

On the NSE Nifty index, the top winners are NTPC, Tata Steel, Adani Ports, Power Grid, Britannia Industries, with NTPC up 2.83%. The biggest laggards are Apollo Hospitals, Bajaj Auto, Adani Enterprises, IndusInd Bank, Coal India, with Apollo Hospitals down 2.04%.

On the flip side, 142 stocks fell to their 52 week lows. Zee Media, Seamec, Venky’s (India), Valiant Organics, Vipul Organics, Sheela Foam, Shreyas Shipping & Logistics, Paras Defence and Space Technologies, Pokarna, Poddar Housing and Development, Punjab Chemicals and Crop Protection, Rama Phosphates, Rupa & Company, Brookfield India Real Estate Trust REIT, Century Textiles & Industries, Graphite India, GE Power India, Indong Tea Company, Olectra Greentech, Adani Green Energy, Adani Transmission, Biocon, Amrutanjan Health Care and others were among these scrips.

NSE Highs and Lows

On the NSE Nifty, 40 stocks hit their 52 week highs including Fourth Dimension Solutions, Baid Finserv, Bosch, Cera Sanitaryware, Equitas Small Finance Bank, Focus Lighting and Fixtures, GNA Axles, Goyal Aluminiums, Hilton Metal Forging, ION Exchange (India), Kirloskar Industries, Kovai Medical Center and Hospital, NMDC Steel, MPS, Persistent Systems, PG Electroplast, Shree Cement, Siemens, Universal Cables among others.

Alternatively, 124 stocks including Venky’s (India), Sheela Foam, Indigo Paints, Adani Total Gas, Adani Transmission, Barbeque Nation Hospitality, Seamec, Century Textiles & Industries, Adani Green Energy, BSE, Paras Defence and Space Technologies, Valiant Organics, Olectra Greentech, Mahindra Logistics, Associated Alcohols & Breweries, Ramco Industries, Rupa & Company, Biocon are at 52 week lows.

Volume Toppers

TCS, Infosys, Reliance Industries, L&T, Tata Steel are among the volume toppers on the BSE Sensex-30 index.

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Oct 11, 2023
Sebi issues advisory for regulated entities on cybersecurity practices

Amid increasing cybersecurity threats to the securities market, Sebi on Wednesday issued an advisory for stock exchanges, depositories and other regulated entities asking them to define roles and responsibilities of chief information security officer and other senior personnel.

Also, it asked them to clearly specify the reporting and compliance requirements in the security policy.

The REs have been asked to proactively monitor the cyberspace to identify phishing websites and report the same to CSIRT-Fin.

Sebi noted that the majority of the infections are primarily introduced through phishing e-mails, malicious adverts on websites, and third-party apps and programmes.

Accordingly, thoughtfully designed security awareness campaigns that stress the avoidance of clicking on links and attachments in e-mail, can establish an important pillar of defense.

“Given the sophistication and persistence of the threat with a high level of coordination among threat actors, it is important to recognise that many traditional approaches to risk management and governance that worked in the past may not be comprehensive or agile enough to address the rapid changes in the threat environment and the pace of technological change that is redefining public and private enterprise,” Sebi said.

The regulator said that an efficient and effective response to and recovery from a cyber-incident by REs are essential to limit any related financial stability risks.

Also, Sebi said that operating systems and applications should be updated with the latest patches on a regular basis. It further said that security audit or Vulnerability Assessment and Penetration Testing (VAPT) of the application should be conducted at regular basis.

The regulator has asked REs to take measures for data protection and data breach. Sebi has asked REs to implement strong log retention policy along with robust password mechanism. Also, it asked them to deploy web and e-mail filters on the network.

The regulator noted that the interconnectedness and interdependency of the financial entities to carry out their functions, the cyber risk of any given entity is no longer limited to the entity’s owned or controlled systems, networks and assets.

The circular will come into force with immediate effect.

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Oct 11, 2023
Nifty to reclaim 17850 or further correction on cards? 7 things to know before share market opens

Indian benchmark indices are likely to open on a negative note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the red at 17,963 level. In the previous session, Sensex closed marginally above 61,000, down 0.52% and the Nifty gave up 17,950. “Lack of major triggers in the domestic market is attracting global cues to dictate the market trend. The US market is facing an unfavorable combination of higher-than-expected inflation and a stronger job market. This suggests that interest rates have not yet peaked and will remain elevated for a long period,” said Vinod Nair, Head of Research, Geojit Financial Services.

Key things to know before share market opens

Wall Street Overnight

On Monday, Wall Street was closed for trading, as America celebrated President’s Day, also known as Washington’s Birthday.

Crude Oil

Oil prices rose over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply. Brent crude settled up $1.07, or 1.3%, at $84.07 a barrel. U.S. West Texas Intermediate crude (WTI) for March, which expires on Tuesday, last rose 85 cents, or 1.1%, at $77.19.

FII/DII Data

Foreign institutional investors (FII) net sold shares worth Rs 158.95 crore, while domestic institutional investors (DII) accumulated equities worth Rs 86.23 crore on 20 February, according to the provisional data available on the NSE.

F&O Ban

The National Stock Exchange has no stocks on its F&O ban list for 21 February. According to the NSE, stocks are prohibited in the F&O sector once they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

Technical View

“A long bear candle was formed on the daily chart with minor upper shadow, which indicates a violation of support around 17,900 levels. The positive chart pattern like higher tops and bottoms is still intact and current weakness could be in line with the new higher bottom formation. But, there is no confirmation of any higher bottom reversal pattern unfolding at the lows. The weakness with range movement could continue for the next 1-2 sessions before showing yet another upside bounce from the lows. The next lower support is at 17700 levels and immediate hurdle is around 18,000 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Levels to Watch

“Taking new long positions must be avoided until the Nifty attains 18,000 levels. In the weekly chart, Index remained beneath the middle Bollinger band. Index may find support around the 17,650-17,700 zone. On the derivatives front, the highest call OI is at 18,000 strike price while on the put side, highest OI remains at 17,500 strike price. On the other hand, Bank Nifty has support at 39,900 levels while resistance is placed at 41,200. As FIIs remained net buyers last week, if they flip their position; the market may under perform in coming days,” said Ameya Ranadive, CMT, CFTe, Equity Research Analyst, Choice Broking.

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