Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

We are poised to hit 13,900 and then 14,000 but we might face some resistance around the present levels of the Nifty. There could be a bout of selling pressure between 13,850-13,950. We have good support at 13,550-13,600 and any corrective wave can be utilized to buy into this upward rally

Dec 28, 2020 3:55 PM

Manish Shah, Founder www.Niftytriggers.com

Nifty soared sharply following a breakout of previous minor swing high. Previous week’s doji gets ignored as the bull run in the index continues unabated. From a pattern recognition point of view Nifty has moved above the previous swing high and the pattern of higher highs and higher lows continues. Nifty has also moved above last Monday’s long red candle as the market negating the bearishness of the previous week. Nifty is now hitting the top end of the channel and if the channel breaks and nifty moves above it. The rally should continue. 13,750-13,800 was a major resistance zone once we apply advanced fibonacci applications.

Nifty R1 Weekly Pivot is at 13,975 and beyond this the resistance shifts to 14,150-14,200. The support for Nifty is at 13,650-13,675. As long as this level holds the rally should continue. RSI on the weekly and the daily is above 70 indicating strong momentum when it is seen with ADX which indicates a strong trend. The momentum in the market is good and proper. Stay long. Any dips to 13,750-13,800 would indicate buying opportunities.

Dec 28, 2020 3:47 PM

Market At Close

Market Begins Last Week Of The Year On A Strong Note; Sensex & Nifty Post Record Close

Sensex & Nifty End At Record Closing Highs In 13 Of 19 Sessions This Month

Midcap Index & Nifty Bank Gain In-line With Benchmarks, Up Over 1% Each

Nifty Rises 124 Points To 13,873 & Sensex 380 Points To 47,354

Nifty Bank Climbs 479 Points To 30,881 & Midcap Index 243 Points To 20,719

Except for Pharma, All sectoral Indices Close Higher; PSU Bank Top Gaining Index

44 Nifty Stocks End With Gains; JSW Steel, Tata Motors, HDFC Life & SBI Top Gainers

TCS Becomes The 2nd Indian Company To Cross Mkt Cap Of Rs 11 Lakh Crore

Tata Motors Surges 6% As EU-UK ‘Deal’ Removes Key Overhang For JLR

Realty Stocks Continue The Gaining Momentum; Godrej Prop, Indiabulls ReaL Up 4-8%

Promoter Buying Addl 1.5 Lk Shares Via Open Mkt Lifts Sadbhav Infra 6%

Dixon Tech Moves 6% Higher On Arm’s Agreement With Motorola For Mobile Phone Mfg

Market Breadth Favours Advances; Advance-Decline Ratio At 5:2

Dec 28, 2020 3:37 PM

Closing Bell | The Indian equity benchmark indices, Sensex and Nifty ended higher on Monday led by gains in banking, metals and realty stocks supported by positive global cues. The benchmark Sensex gained 0.81 percent or 380.21 points to 47,353.75, while the Nifty ended 0.90 percent or 123.95 points higher at 13,873.20. Broader markets outperformed the benchmarks with Nifty Midcap100 and Smallcap100 ending more than 1 percent higher each. Barring Nifty Pharma, all the other sectoral indices ended in the green.

Dec 28, 2020 3:34 PM

Hero Electric ties up with startup eBikeGO

Hero Electric on Monday said it has tied up with e-mobility startup eBikeGO to supply over 1,000 bikes to transform last-mile deliveries. eBikeGo will procure these Hero Electric bikes through the next financial year with the first batch of 120 already delivered to the startup, the company said in a release.

Through the partnership, the companies will further transform the last mile deliveries from petrol to electric with their expertise in EV technology and internet of things (IoT) enabled operations, it said. ”At Hero Electric, we’ve always believed that to solve last-mile delivery connectivity, the best option is to go electric. In the endeavour to drive the same, we have many partners who help not only businesses but also consumers with an affordable and efficient solution. Read more here.

Dec 28, 2020 3:18 PM

Lupin | The drug major launched Meloxicam Capsules, 5 mg, and 10 mg, having received an approval from the United States Food and Drug Administration. Meloxicam Capsules is the generic equivalent of Vivlodex Capsules of Zyla Life Sciences US, Inc., and indicated for management of osteoarthritis (OA) pain.

Dec 28, 2020 3:05 PM

DHFL lenders set to begin voting on resolution plans

After multiple rounds of bidding, and several revisions in bids by the suitors, the creditors' committee of Dewan Housing Finance Limited (DHFL) is set to begin voting on the final resolution plans, two people aware of the development told CNBC-TV18.

“We will begin the voting process tonight, and the voting window will remain open till January 14,” said a senior banking executive with a public sector bank with significant exposure to DHFL. This person added that all the resolution plans submitted so far by the four suitors - Oaktree Capital, Piramal Group, Adani Group and SC Lowy- will be put to vote.

“The bidder with the highest number of votes from the CoC (committee of creditors), subject of course to crossing the minimum threshold of 66 percent of votes, will be declared the winning bidder,” explained another person in the know.

Earlier, the CoC would vote on the highest plan under the insolvency and bankruptcy code (IBC). However, as per the revised voting rules under IBC proposed in February this year, all the resolution plans are voted on, and the highest one is declared the winner. Read more here.

Dec 28, 2020 2:51 PM

Bottomline: Gold or Bitcoin or both?

The unprecedented money printing in the wake of the COVID-19 pandemic raises the spectre of inflation and currency devaluation globally. This makes the gold, and even bitcoin, a good candidate as a…

Dec 28, 2020 2:38 PM

Market Watch: Yogesh Mehta, Yield Maximisers

Piramal Enterprises so far was a laggard and now since last week, it is showing strength. On the technical front, it seems that Rs 1,472-1,473 is the current price. It can be looked at on the buy side and upper side target would be Rs 1,570-1,590 levels, keeping a stop loss of Rs 1,425 on the lower side.

Insurance sector is very promising from here. HDFC Life Insurance is a consistent player and that is why I am recommending to buy. The current level is Rs 674-675 in futures segment, keep a stop loss tad lower – Rs 658 which is today’s low and target would be in the range of Rs 700 and Rs 720.

L&T Finance – Rs 93-93.5 is the current level. Stock is showing very good strength on all parameters and trading above all the moving averages. Still, it seems that some more head room is there; around Rs 100 could be the target. One can go long here keeping a stop loss of Rs 90.

Dec 28, 2020 2:30 PM

Dec 28, 2020 2:11 PM

Market Watch: Ruchit Jain of Angel Broking

A buy call on Muthoot Finance, we have seen a long consolidation in this space, I think 2-3 months the stock has been undergoing a time-wise correction and now you can see open interest building up in Muthoot Finance ahead of the expiry. Overall trends remains positive. One should use this time-wise correction now with a buying opportunity. Go long with a stop loss below Rs 1,188 for a target price of Rs 1,255.

Dabur looks quite good on the charts, higher tops, higher bottom, sustainable upmove we have seen recently, today again there is a breakout after some corrective phase. So keeping a stop loss below Rs 512, buy Dabur for short term target of Rs 540.

Dec 28, 2020 2:03 PM

LT Foods | The company’s Daawat Basmati Rice range is now available at Jumbo, the Netherlands supermarket chain across all 660 stores in Netherlands. Jumbo has stores in Netherlands & Belgium and command a 21% market in Netherlands alone. Shares of LT Foods rally over 6 percent.

Dec 28, 2020 1:55 PM

SpiceJet | The low-cost carrier announced the signing of a Memorandum of Understanding (MoU) with Pluss Advanced Technologies (PLUSS) for the supply of indigenously developed precise temperature control boxes required for maintaining the effectiveness of the vaccine during transport. PLUSS will supply its patented product – Celsure®, developed using its proprietary Phase Change Material technology, for transportation of the Covid-19 vaccines from the manufacturer to different parts of the country. The product will be co-branded especially for SpiceJet’s cargo division Spice Xpress and will be made available at various locations across the country

Dec 28, 2020 1:50 PM

DHFL | Voting on DHFL resolution plans is likely to start tonight. Sources tell CNBC-TV18 that the resolution plans from all 4 suitors, Oaktree, Piramal, Adani and SC Lowy, will be voted on. Oaktree and Piramal are seen neck and neck; claim to offer the best proposal. Both have increased their bids by Rs 1,700 crore last week.

Dec 28, 2020 1:43 PM

Dec 28, 2020 1:38 PM

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