Market will open with a gap up despite flat mixed global cues.
Energy sector pulled the Dow index down yesterday. Recovery in tech stocks kept Nasdaq into green.
Crude oil prices dropped by 7 % on US exchange which can ignify the hope of recovery in the market.
Nifty Outlook :
Yesterday we have seen a smart recovery from the beginning of the session shrugging off massive losses in US markets. But Nifty50 could not able to surpass 10600 level and closed just at 10582.5 after making an intra day high of 10596.25.
Nifty50 has plotted a bullish piercing candle on the daily chart which signals temporary bullishness for the next session.
Nifty will sneak the 10600 level hurdle at the opening time but it will be interesting to see whether it will sustain above till the end of the day. Next resistance would be around 10700 and 10850 levels.
🎯 News & Impact 🎯
Major Results Today :
Grasim, M&M
Results Updates :
🎯 Tata Steel :
Revenue up 34.1 % at Rs.43,544.1 crore.
Net profit up 4 times at Rs. 3604.2 crore versus Rs.975.9 crore.
Margin at 20.5 % versus 14.5 %.
🎯 Sun Pharma :
Revenue up 4 % at Rs.6938 crore.
Net loss at Rs. 219 crore versus profit of Rs. 912 crore.
Margin at 22.5 % versus 20.7 %.
🎯 Zee Entertainment Enterprises :
Company promoters plan to sell 50 % stake in the company to a strategic partner.
🎯 Hindalco :
Company said Novelis will invest $175 million to expand aluminium production and recycling capabilities in Brazil.
🎯 Sasken Technologies :
Company received assessment order from the IT department under section 143(3) of the Income Tax Act, 1961 with a Rs 68 crore has been raised as a tax demand.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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