Market will open with a gap up followed by strong global indices.
Stocks across Asia kicked off the week with strong gains after soothing Federal Reserve comments and an easing of monetary policy in China triggered a renewed appetite for risk assets.
Nifty50 has plotted a hammer type candle on the daily chart yesterday which can be considered as a trend reversal pattern. It is important to see whether Nifty50 can maintain it's upward channel edged at 10700 on the lower side. Similarly it should breach the resistance zone of 10950-11000.
🎯 News & Impact 🎯
🎯 Bandhan Bank , Gruh Finance :
Bandhan bank and HDFC-led Gruh set to merge.
🎯 Reliance :
Company received a nod from the Reserve Bank of India for the merger of U.S. arm-Reliance Holding USA Inc with wholly owned arm Reliance Energy Generation and Distribution Ltd.
🎯 NHPC :
Company said that its 390 MW Power Station in Jammu and Kashmir is under complete shutdown from Jan. 01-12 for replacement work. The company also stated the above shutdown will cause tentative loss of 21.4 MU and 0.55 percent in PAF.
🎯 Future Lifestyles Fashions :
Company increased its foreign portfolio investment limit in the company from 24% to 49%.
🎯 BHEL :
Company has commissioned a 800 MW thermal plant in Telangana.
🎯 Kirloskar Electric will sell 1.065 acre of land situated at Bangalore to Brigade Enterprises for Rs.55 crore.
🎯 Sagar Cements :
December cement sales rose 28.3 % year-on-year to 326,272 MT.
🎯 ONGC :
ONGC Videsh Ltd., the overseas arm of ONGC, reported a significant discovery of oil in its offshore block in Columbia.
🎯 Punjab & Sind Bank :
Government amalgamates three regional rural banks - Punjab Gramin Bank, Malwa Gramin Bank And Sutlej Gramin Bank.
🎯 Simplex Infra :
Shareholding of promoters increased to 49.83 % from 49.29 %.
🎯 Ceinsys Tech :
Company has received letter of award/intent of Rs.102.69 crore.
Edited by Sharp.
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