Free Stock Market Trading Tips For Traders
Stock Market News and Analysis:
Equity benchmark ended negative after five-day gains. Nifty declined 52.90 points, but the market breadth was positive. Nifty closed at 10982.80 and for coming session its key support is at 10900 while on higher side its resistance is at 11085.
Headlines for the day:
- Adani Group has appointed MSTC as selling agent to sell all equipment for the entire Group and surplus inventory.
- HDFC has proposed to increase up to Rs 5,000 crore through issue of bonds.
- Granules India Limited receives EIR from USFDA for Bonthapally facility.
- Alkem Laboratories announced the closure of US Food & Drug Administration’s inspection at its St. Louis facility in the US. The company stated that USFDA has issued an Establishment Inspection Report for the Company’s manufacturing facility located at St. Louis, Fenton Logistics Park, USA which was inspected from 16th August, 2019 to 22nd August, 2019 and where the Company gets a Form 483 issued by the USFDA containing four observations.”
- Reliance Capital Limited to exercise the over-subscription option 3.15 percent stake sale, in addition to the base sale of 3.15 percent of equity shares, aggregating to 6.3 percent of Reliance Nippon Life Asset Management.
- Tata MotorsLimited share prices declined over 4% intraday after the company posted a 32% drop in global sales, including that of Jaguar Land Rover, to 72,464 units in August. It had sold 1,07,030 vehicles in the year-ago period.
- Yes Bank share prices declined amid reports of co-founder Rana Kapoor planning to sell his stake. The stock, which rose 13.5% in the previous session, has lost more than 50 percent of its value in the last three months amid corporate governance and asset-quality concerns, though intermittently it has seen buying interest.
- Bank of Barodashare prices were up after the sources stated that the state lender was looking at selling almost Rs 9,000 crore of bad loans. The bank is looking to sell its exposure to 35 stressed companies, with the state lender putting the entire Rs 2,500 crore exposure to Reliance Communications on sale.
- State bank of India’s board has approved an offer-for-sale of at least 3.5% stake or 3.5crore shares in SBI Life Insurance Company Ltd. with an option of oversubscription of 1%. The floor price for the sale has been set at Rs770 per share a discount of 4% to today’s closing price of Rs799.65.
- Apollo Hospitals Enterprise Limited founder to sell 50 lakh shares up to Rs725 crore. Floor price is set at Rs1,450 per share, which is at discount of 3.2 percent as per current market prices.
- Calls for Tomorrow :
- CALL: SELL RBLBANK EQ BELOW 364 TARGETS 360.35/356.70/353.05 SL 367.65
Description: Stock settled near its immediate support with bearishly bias on daily chart. Hence breakout is expected ahead.
- CALL: SELL APOLLOHOSP EQ BELOW 1454 TARGETS 1439.45/1424.90/1410.35 SL 1468.55
Description: Stock form bearish engulfing candle on daily chart and settled near its immediate support with bearishly bias. Hence rally is expected below the mentioned level.