Market activity on Monday turned range bound between 16900-17100 after an initial gap-up opening. But late selling in midcap and small-cap counters forced Nifty to end with marginal gains and formed an indecisive signal of Doji Star. The announcement of Russia planning to put nuclear weapons in Belarus acted major dampener in recovery in the global market.
The movement in S&P Dollex clearly suggests the bottom is already in place and prices are gearing for a major surge in the days to come. We expect sustainable gains in Nifty on a move above yesterday’s high i.e., 17091.
S&P Dollex 30 ie Sensex in USD
Stocks to watch
Positive Read through
- SJVN has secured Green Financing from Japan Bank for International Cooperation amounting to approx Rs 915 crore.
- Nestle India board will consider an interim dividend for the year 2023 on April 12 along with the first quarter results.
- PNC Infratech: Company emerges as the lowest bidder for a project worth Rs 819 crore.
- Allcargo Logistics has signed a Share Purchase Agreement with KWE Singapore.
- UPL Promoters bought 23.22 lakh shares between 21-23 March.
- Adani Enterprise- subsidiary to acquire 49% stake of Quintillion Business Media Limited.
- Lemon Tree opens a 44-room Hotel in Kerala.
- Arvind SmartSpaces sells the entire launched inventory of the second phase of Arvind Greatlands within 7 hours.
- Reliance Ind- Jio Fiber introduces a new broadband backup plan for unlimited data.
Negative Read through
- AB Capital- to sell Aditya Birla insurance brokers to Samara Capital for Rs 455 cr EV.
- Kalyan Jewel- Warburg Pincus Investment to sell 2.5% stake in Kalyan Jewellers at Rs 110 a share worth Rs 288 cr via Block Deal according to reports.
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