Nifty Rollercoaster: Buckle Up for Monday’s Ride
Nifty is expected to remain in a consolidative phase in the coming sessions with key support at 21,800-21,600 zone, while the hurdle on the higher side is expected to be at 21,800, the high of last week, adding if the index breaks the support, then selling pressure may extend further to 21,600 but surpassing the resistance (21,532) may take it to a new high.
Nifty is likely to take immediate support at 21,501 followed by 21,719 and 21,869 levels, while on the higher side, it may see immediate resistance at 21,900, followed by 21,750 and 21,532.
Our Recommended Strike Price was Nifty 21650 – 21850
Potential Level : 22118.29, 22087.32, 21900.19, 21869.22, 21750.58, 21719.61, 21532.48 & 21501.51
Bank Nifty in Waiting: Key Levels to Watch Before the Bell Rings
Bank Nifty bulls successfully defended the crucial support level of 45,100, establishing it as a critical support zone.The fall witnessed in the previous trading session did not continue on Friday and Bank Nify reversed sharply from the 45,000 level. The pullback can continue towards 46,000 – 46,200 where the key daily moving averages are placed.
Bank Nifty is expected to take support at 45,366 followed by 45,818 and 46,270 levels, while on the higher side, the index may see resistance at 46,206 followed by 45,754 and 45,302 levels.
Our Recommended Strike Price was Bank Nifty 45100 – 46000
Potential Level : 46722.29, 46658.13, 46270.49, 46206.34, 45818.69, 45754.54, 45366.89 & 45302.74
Stocks on News
ONGC : Oil and Natural Gas Corporation Ltd (ONGC) reported a 9.9% year-on-year (YoY) decline in consolidated net profit for the quarter ended December 2023 to Rs 10,356 crore.
Our Recommended Strike Price for ONGC 259 – 265
Divi’s Labs : Pharma major Divis Labs reported a consolidated net profit of Rs 358 crore for the quarter ended December, up 17% from Rs 306 crore posted in the same period last year.
Our Recommended Strike Price for Divi’s Labs 3650 – 3700
Hero MotoCorp : Hero MotoCorp on Friday reported a 51% year-on-year (YoY) growth in net profit for the quarter ended December to Rs 1,073.40 crore, which was largely on expected lines. Revenue from operations grew 21% YoY in the quarter to Rs 9,724 crore.
Our Recommended Strike Price for Hero MotoCorp 4720 – 4860
Aurobindo Pharma : Aurobindo Pharma reported net profit of Rs 936 crore in the December quarter. Revenue from operations was at Rs 7,352 crore.
Our Recommended Strike Price for Aurobindo Pharma 980- 1020
Bandhan Bank : Bandhan Bank reported healthy earnings for the quarter ended December, with the net profit surging by 2.5 times year-on-year (YoY) to Rs 737 crore.
Our Recommended Strike Price for Bandhan Bank 212.50 – 217.50