Free Stock Trading Tips for Traders
Stock Market News and Analysis:
Equity benchmark posted huge gains on the F&O Expiry day and ahead of Budget, which is to be presented on February 1. Nifty closed at 10830.95 and for coming session its key support is at 10700 while on higher side its key resistance is at 10900.
Headlines for the day:
- Jet Airways Limited clarified that the company had not grounded a single aircraft due to any grounding notice by GECAS.
- Hero MotoCorp Limited set up technological centre in Germany. This centre will operate in tandem with the company’s global R&D hub in Rajasthan.
- Board of Castrol India approved proposal for capacity expansion of its Gujarat’s production facility from 100mn litres to 140mn litres with an investment of Rs138cr.
- Jindal Saw share prices were trading 7% higher after an arbitration tribunal pronounced an award in favor of the company against NTPC with respect to the Inland Water Coal Transportation Business.
- Dabur India share prices were trading 3% higher after the company posted a decent set of numbers for the quarter, which were broadly in line with the estimates. The company’s revenue grew 11.8% yoy to Rs 2,199.2 crore, in-line with estimates. EBITDA for the quarter was up 10.4% yoy to Rs445.4cr. High raw material cost was offset by lower advertisement and other expenses.
- Natco Pharma announced its submission of an Abbreviated New Drug Application containing a paragraph IV certification with the US Food & Drug Administration for generic version of Ibrutinib Tablets of 140mg, 280mg, 420mg and 560mg strength.
- Dewan Housing Finance Corporation share prices extended their decline and hit an over four-year low. The stock tanked after a report stated that the Ministry of Corporate Affairs will probe the allegations against the housing finance company.
- Tata Metaliks share prices surge 1% in morning trade after the Forest Ministry granted environmental clearance for increasing hot metal production from 0.5MTPA to 0.75MTPA.
- Dredging Corporation India share prices surged 4% after the company stated that it has to pay only 25% of the total arbitration claimed by Mercator with reference to the Sethusamudram Ship Channel project.
- Container Corporation of India inked a memorandum of understanding (MoU) with Russia based JSC Logistics for exploring logistics opportunities in Russia, India and international corridors.
- Calls for Tomorrow :
- CALL: BUY BHARATFORG EQ ABOVE 496 TARGETS 501/505.95/510.90 SL 491.
Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 496.
- CALL: BUY UPL EQ ABOVE 794.30 TARGETS 802.25/810.20/818.15 SL 786.35.
Description: Stock heading towards its major resistance on daily chart and rally is expected above the mentioned level.