A sustainable move above 13000 levels is expected to bring sharp upside momentum back into action, which could later pull Nifty towards 13500-13600 levels in the near term
Nifty futures were trading flat with positive bias in early trade on Tuesday at 12,959 on Singaporean Exchange. Trends on SGX Nifty suggested a flat opening for BSE Sensex and Nifty 50. A host of factors such as rising COVID-19 cases, developments around coronavirus vaccine, oil and rupee movement and other global cues will keep the investors busy today. “The short term trend of Nifty is range-bound with positive bias. A sustainable move above 13000 levels is expected to bring sharp upside momentum back into action, which could later pull Nifty towards 13500-13600 levels in the near term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Reliance Industries Ltd: Mukesh Ambani-led Reliance Industries’ retail arm Reliance Retail has doubled down on its three-year-old initiatives Indie by AJIO and Swadesh that focuses on promoting artisans and artisanal products. The company has expanded engagement for a push to locally made artisanal products with over 30,000 craftsmen and more than 40,000 products, it said on Monday.
Avas Financiers: AU Small Finance Bank offloaded 35 lakh shares of Avas Financiers worth Rs 530 crore through open market transaction.
Coal India: Coal India informed that four trade unions of CIL have been served one-day strike notice and the company’s subsidiaries for November 26. “Efforts would be made to avert the strike and conciliatory process is going on,” it said in a BSE filing.
Mindtree: Mindtree announced a five-year deal with a leading wind turbine manufacturer, The Nordex Group.The Nordex Group chose Mindtree as its business transformation partner to simplify, modernize, and transform its entire IT landscape globally.
Indiabulls Housing Finance, IIFL Finance: Asset quality at non-bank lenders IIFL Finance and Indiabulls Housing Finance is “vulnerable” due to the economic contraction, global ratings agency Moody’s Investors Service said on Monday.
IRCON International: IRCON International informed that it has been awarded the work order of Rs 723 crore by National Capital Region Transport Corporation (NCRTC).
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