India Trade Trade Setup

Share Market Today – Nifty today, Sensex Today

Trade setup for Tuesday

Share Market Today – Nifty today, Sensex Today – 22ndFebruary

Indian Share Market So Far

Nifty was forming highs and lows for the last 2 sessions and the Sensex and Nifty are seen responding to global cues. Nifty reached to its optimum peak of 10,800.

Nifty Levels on February 22, 2019

Nifty had touched new lows of 10,585 earlier and a swing was seen across days after that. It is expected that the big guns of the market will look at 10,890- 10,914 as the critical zone which needs to be tested. Crossing this hurdle is expected to give Nifty a sustenance above going up to 11,011 levels. Stop loss is given at a level of 10,640. It is expected this bull run will continue.

Opportunities for Indian Stocks

The opening is expected to be a positive one with no major inputs from global markets as the Nifty Futures on Singapore Stock Exchange were trading at 41.50 points, 0.40% a bit lower than 10,360.50, yet quite resilient.

Good Stock Performers

Sensex gained 142 points and Nifty was just. Little short of 10,800 crucial level. Suzlon rose to 23% and Corporation bank up to 20%. MTNL shares also jumped 19% on revival plans as reports emerged of Digital Communications Commission (DCC) looking at discussions on revival of both MTNL and BSNL.

The Reserve Bank of India (RBI) met the chiefs of all the banks to discuss how the rate cut benefits will be passed to the consumers. Housing finance stocks gained 8% prior to this meet with maximum gains seen in Can Fin Homes of 7.78% with a level of Rs 272.8. LIC housing gained 1.98% at level of Rs 460. 95.

Important Company News

Reliance Capital led by Anil Ambani invited Nippon Life Insurance to acquire 42.88% – its entire stake in the Reliance Nippon Life Asset Management (RNAM).

Important companies like Bajaj Finserv, Titan and Grasim Industries will be added to Nifty50 starting April 2, 2019. The 3 exiting stocks will be Ambuja Cements, Bosch, and Aurobindo Pharma.

IDFC bank announced that it plans to triple its spread of branches especially in urban areas to 90 by changing its focus point from rural areas. It also plans to open 80 new branches over a period of next 6 months.

Uttar Pradesh received commitments of Rs 35,000 crores and Rs 10,000 crores by Adani Group and Reliance Industries respectively. Also other coporate behemoths like Aditya Birla Group committed Rs 25,000 crores followed by Mahindra Group, ITC, TCS and few others.

Indian F&O
Today, for roll-over of contracts, ICICI bank, Coal India and Maruti Suzuki along with Vedanta will be in focus where contacts expired yesterday.

Coal India – Rollovers were lower than expected at 35% and was also seen specifically in last expiry. The dividend expectations have led to this discount trading.

Vedanta – A total of 21.9 million shares are outstanding with the near month and 52% rollovers were again less than expected. Dividend is expected in Mar or April.

ICICI bank had 44% rollovers with Maruti with 52% rollovers.