Online Equity Trading Tips For Trader & Fundamental
Stock Market News and Analysis:
Equity benchmark ended the day on negative note with Nifty able to hold 11,900 level. Among the sectors, barring metal and FMCG all other indices ended lower led by auto, pharma, energy, bank and infra. Nifty closed at 11906.20 and for coming session its key support is at 11850 while on higher side its resistance is at 12000.
Headlines for the day:
- Government has proposed up to 30% capital subsidy for solar module units on Gujarat Borosil, Tata Power, BHEL.
- ITC Limited to invest Rs20,000 crore in India, FMCG, Paper and Backend Operations.
- LIC cut stake in L&T by 2.83 crore shares or 2% from 18.3% to 16.3%, from July 2017 till June 2019.
- NTPC Limited in a press note informed that investment approval has been accorded for 100 Mega Watt Ramagundam Floating Solar PV Project, Phase-I in District Peddapelli, Telangana.
- Adani Green Energy Limited share prices traded higher after the company informed that its promoters led by Gautam Adani will sell a 5.98% stake in the company through an offer for sale (OFS).
- Reliance Industries Limited and Bharat Petroleum announced the sanction of the MJ project in Block KG D6, offshore the east coast of India. The announcement made on Tuesday after market hours.
- The RBI stated that it has imposed a fine on two prepaid payment instrument issuers Yes Bank and ZipCash Card Services for violating regulatory norms. According to an RBI, a penalty of Rs11.25 lakh each has been imposed on the two issuers.
- Shares of Tata Steel soared as much as 3 percent intraday on June 11 despite the European Commission formally blocking the proposed European steel joint venture with ThyssenKrupp AG.
- Gujarat Pipavav Port Limited to shut down its operations from midnight of June 11 till June 13, for a period of 48 hours based on directions by the state’s port regulatory authority, due to a cyclonic storm which will be crossing the coast of Gujarat.
- Yes Bank shares declined after two directors decided to resign from their post in the current week. A day after the resignation of non-executive director Ajai Kumar, non-executive independent director Mukesh Sabharwal also stepped down from the Bank’s board on June 11.
- Calls for Tomorrow :
- CALL: SELL CENTURYTEX EQ BELOW 979.15 TARGETS 939.35/959.55/949.75 SL 989.
Description: Stock form consolidation and settled near its immediate support on daily chart with bearish bias. Hence rally is expected below the mentioned level.
- CALL: SELL BPCL EQ BELOW 379.15 TARGETS 375.35/371.55/367.75 SL 382.95
Description: Stock heading towards its immediate support and settled with bearish bias. Hence breakout is expected ahead.