Accurate Free Equity Tips For Beginners
Stock Market News and Analysis:
Equity benchmark ended in green with the Nifty ended above 11,000 levels for first time in last five sessions. Nifty closed at 11003.05 and for coming session its key support is at 10930 while on higher side its resistance is at 11050.
Headlines for the day:
- RCOM stated that that the 7th meeting of the Committee of Creditors of Reliance Communications is scheduled to be convened on Sept 9.
- Dewan Housing Finance Corporation Limited defaulted in payment of non-convertible debentures interest worth Rs20.24 crore.
- DMART has issued commercial paper of Rs150 crore.
- Union Bank share prices are up by over 1% in afternoon trade. The bank’s board approved the merger of Andhra Bank and Corporation Bank with itself. The board also approved a revised capital plan to raise up to Rs 17,200 crore, of which Rs13,000 crore would be raised by means of equity and the rest via AT I/Tier II bonds.
- Ashok Leyland Limited announced no production days for the month of September. The company’s Ennore plant will stay closed for 16 days, Hosur 1,2 and CPPS for 5 days, Alwar for 10 days, Bhandara for 10 days, and Pantnagar for 18 days.
- Eveready Industries share prices hit lower circuit after Duracell Inc is likely to acquire the company’s battery and flashlight business in a slump sale for Rs1,600-1,700 crore..
- SBI has announced the cut in its MCLR by 10 basis points across all tenors. The 1 Year MCLR would come down to 8.15 percent p.a from 8.2 percent p.a. with effect from September 10, 2019. This is the fifth consecutive reduction in MCLR in FY19-2
- Larsen & Toubro Construction has bagged a prestigious residential project to construct 23,432 dwelling units with on-site infrastructure works at various locations in Navi Mumbai.
- Reliance Industries Limited and Bharat petroleum Plc aim to start gas production from KG-D6 basin in April-June 2020. The bidding would be conducted on October 10 to ink gas sale pact within 15 days from the closure of bidding proces
- Canara Bank sought expression of interest from bidders to sell its entire stake of 30 percent in Can Fin Homes. Besides, the lender revised MCLR across various tenors with effect from September.
- Calls for Tomorrow :
- CALL: BUY VOLTAS EQ ABOVE 644 TARGETS 650.45/656.90/663.35 SL 637.55
Description: Stock settled near its immediate resistance with bullishly bias on daily chart. Hence breakout is expected ahead.
- CALL: BUY BHARATFORG EQ ABOVE 402.70 TARGETS 406.75/410.75/414.80 SL 398.65
Description: Stock witnessing correction from 52 week low and settled near its immediate resistance with bullishly bias. Hence rally is expected above the mentioned level.