A gap-up opening expected after Friday's sell-off in the market.
Liquidity crisis concerns over NBFCs, H1-B visa issue and weak global cues weighed on the market on Friday. Last hour recovery pulled the Nifty to settle above 10300 mark after hitting day low at 10249.6.
Nifty50 has plotted a spinning top kind of pattern on the daily chart. 10210 would be a strong support in coming week and 10350 & 10500 are the resistance levels.
🎯 News & Impact 🎯
🎯 Major Results Today :
Asian Paints, CanFinHomes
Results Updates :
🎯 HDFC Bank :
Profit grows 20.6 % to Rs.5,005.73 crore versus Rs.4,151 crore; net interest income increases 20.6 % to Rs.11,763.41 crore YoY. Gross NPA flat at 1.33 % QoQ.
Positive for the stock. 👍
🎯 ICICI Lombard :
Net profit was up 43.7% at Rs.293.1 crore against Rs. 204 crore.
🎯 Lupin :
Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the European Medicines Agency (EMA), has adopted a positive opinion recommending the marketing authorization of NaMuscla™ (mexiletine hydrochloride).
Positive for the stock. 👍
🎯 RPower :
Sasan Power, 100 percent subsidiary of Reliance Power bagged an arbitration award against North American Coal Corporation (NACC).
🎯 Puravankara :
Company completed acquisition of Mumbai land from Foods & Inns worth Rs.147.5 crore.
🎯 Concor :
Company signed agreement with Kribhco Infrastructure.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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