Markets formed an inside bar on Monday with trading action restricted in a narrow band and was followed with Nifty maintaining its hold above 50 DMA. We expect positive momentum to resume after Fed monetary policy with near term target seen at 23,500 in Nifty spot. Crucial sector to watch would be Nifty Service sector which would act as key catalyst for Nifty’s journey towards 24,000.
Nifty Futures Chart
Stocks to watch
Positive Read through
- NHPC – Company wins bid for 200 MW solar power project in Gujarat.
- Lemon Tree – Signed a License Agreement for Lemon Tree Hotels Agartala, Tripura.
- Gensol En – Announces setting up a 160 MW solar power project in Gujarat at a cost of Rs 1.28 bn.
- Sonata Soft – Signs go-to-market partnership with zones to simplify enterprise application delivery.
- ONGC – Crude jumps more than 2 pct to a 4-month high, brent at USD 87/bbl.
- Adani grp – As per report, of potential probe is false, no notice from US DOJ.
- Sun Pharma – Australian therapeutic goods admin grants nod for Winlevi.
- AB Cap – Promoters looking to sell up tο 11.5 pct in AB Sun Life.
- HG Infra – JV gets LoA worth Rs. 10.26 bn from Jodhpur Vidyut Vitran Nigam.
- IoL Chem – Brazilian health regulator issues no observations for 10 API units in Punjab.
- Dishman – Brazilian regulator issues no observations for arm’s Shanghai unit.
- Swan Energy – Its arm Veritas bags Rs. 1.56 bn bmc order in JV with Genesys.
- Aegis – Approves acquisition of storage terminals at Mangalore, capex at Rs. 1.25 bn.
- Inox Green – I-Fox Windtechnik gets LoA from NLC for restoration of 33 WTGS.
Negative Read Through
- Paradeep Pho – Announced the shutdown of its Ammonia and Urea Plants in Goa.
- TCS – Tata Sons offers to sell 23.4 mn shares at Rs 4,001 per share.
- AB Sun Life – Promoters looking to sell up tο 11.5 pct in the company.
- Tata Steel – Tata Stell UK to cease operations of coke ovens at port Talbot plant, Walves.
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