Nifty Friday: Whispers of a Bullish Charge or a Bearish Prowl?
Nifty 50 index witnessed a slightly weak morning session but taking support from 21,880 zones, it witnessed a strong pullback to erase the loss and a decisive breach above 22,000 zones, further strengthened the bias to record the All-Time High level of 22,252 during the intraday session. With sentiment maintained positive, we anticipate the index to achieve the next targets of 22,400 and 22,800 levels, respectively in the coming days.
Our Recommended Strike Price was Nifty 21950 – 22250
Potential Level : 22653.77, 22622.36, 22432.57, 22401.16, 22211.38, 22179.97, 22059.63 & 22028.22
Bank Nifty Weekend: Will Bulls Hold Fort or Bears Take Charge?
Bank Nifty witnessed a decent revival from the 46,400 zone but resisted near the 47,000 levels to end lower near the 46,900 zone and has been underperforming as compared to the Nifty index. The index would have the important support of 50EMA level near the 46,200 zone and would need a decisive breach above 47,400 levels to improve the bias
Our Recommended Strike Price was Bank Nifty 46500 – 47100
Potential Level : 47664.48, 47597.74, 47194.48, 47127.74, 46872.06, 46805.32, 46402.06 & 46335.32
Stocks on News
Vodafone Idea: The telecom operator said its board of directors will meet on February 27 to consider all proposals for raising funds in one or more tranches by way of a rights issue, further public offer, private placement, including preferential allotment, qualified institution placement, or through any other permissible mode. The trading window for dealing in securities of the company will be closed on February 23–29.
Bajaj Auto: The Pune-based two-and-three-wheeler company has made further investment of Rs 45.75 crore in Yulu Bikes, which is India’s largest shared electric two-wheeler mobility company. After the fresh investment, Bajaj Auto’s shareholding in Yulu Bikes now stands at 18.8 percent.
Bandhan Bank: The bank said the board of directors approved and appointed Abhijit Ghosh, Head, Finance & Accounts, as the Interim Chief Financial Officer and Key Managerial Personnel of the Bank, with effect from October 20 until the time a new CFO is appointed by the board.
Zydus Lifesciences: The pharma company has incorporated a wholly owned subsidiary in the name of Zydus Lifesciences Global FZE in Jebel Ali Free Zone (ZAFZA), United Arab Emirates (UAE).