- Nifty surged higher to trade on its native buy trend and settled at 10900.65.
- GMR Infra signed a concession agreement for developing a commercial port in Andhra Pradesh
- Pennar Group has bagged orders worth Rs317cr across its business verticals and subsidiary PEBS Pennar.
- BEML was awarded contract worth Rs3, 015cr for supply of 378 Metro coaches Lupin gets approval from the USFDA to market a generic version of SpecGx LLC’s Anafranil Capsules.
- IFCI received Rs491.84cr via NCLT based on the resolution passed by Binani Cements.
- Tech Mahindra has bagged an order worth Rs270cr for IT modernization project from Coal India.
- Adani Mining’s Carmichael mine and rail project will be 100% financed through the Adani Group’s resources
- Zydus Cadila has received final approval from the USFDA to market Atorvastatin Calcium Tablets in the strengths of 10 mg, 20 mg, 40 mg, and 80 mg.
Weekly Market View
Nifty opened with positive sentiments and throughout the week traded with same sentiments on account of weakness in crude oil prices and strength in local currency. The nifty settled above psychological level of 10850 and also traded above 8 days EMA which support bullish trend. One can expect upside movement if it crosses immediate resistance mark of 11025 and immediate support mark is 10775.
Weekly Nifty Bank View
Nifty Bank opened the week on bullish note and remained strong in comparison to nifty and throughout the week traded with same sentiments.
In daily chart, it closed above 8 days EMA which support bullish trend. One can expect upside movement if it crosses immediate resistance mark of 27300 and immediate support mark is 26530.
Global Markets Update
Global market was traded with negative sentiments due to geopolitical jitters in the U.K. and Italy, global slowdown fears, weakness in commodities markets and a sharp drop in US stocks stoked appetite for government paper throughout November.
US S&P 500 settled at 25538.46. The German index DAX closed at 11257.24. The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 22351.06 and Shanghai composite at 2588.19
(Click to submit your details) Just one step to get best trading tips and Recommendation.