Reliance magic worked yesterday, but can Nifty sustain these levels?

Good Morning Everyone, We saw the raw power of Reliance Industries in the stock market today, which solely was responsible for the gain in Nifty yesterday. But is this the end of the down fall?


No, markets are till looking weak and I would call it positive only once the Nifty is able to close above 17600, which may not happen today.


The FIIs continue to sell, and the new vairant of the Corona virus is spreading havoc in the European market and Africa. Let us keenly watch, what will happen today.


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On the daily chart, the Nifty has formed a continuation candle. However, 17600 will be a stiff resistance for now.


Sector Watch:

Realty and media were bullish yesterday, while Auto and PSU banks were bearish.


Top Gainers:

Reliance was the hero of the day which went up more than 6% supporitng Nifty to stay in green.


Top Losers:

Maruti, Britannia, IOC were among the top losers for the day.


Global Markets:

US markets were closed yesterday on account of Thanks Giving day.


Asian shares slipped this morning with Japan leading the fall. MSCI's broadest index of Asia-Pacific shares outside Japan declined 1 percent. Japan's Nikkei index fell nearly two percent. Chinese blue chips and South Korea’s Kospi were down half a percent. Elsewhere, Australian shares also declined 1 percent.


Australian retail sales rebounded with a bang in October as the lifting of many stay-at-home restrictions unleashed a wave of pent-up shopping, further evidence the economy is recovering rapidly from a pandemic-induced slump.


The UK's blue-chip index crept higher for a fourth session on Thursday as gains in consumer stocks offset losses stemming from ex-dividend trading, while pub group Mitchells rose after its sales surpassed pre-pandemic levels. The export-heavy FTSE 100 gained 0.3%

Indian Market:

Trends on the SGS Nifty indicate a big gap down opening with more than 100 point loss.


Being the last trading day of the week, we might see some more sell of intraday today.


Oil prices slid more than 1% on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States.


After a 10 percent drop in advertising volumes on TV during the April-June period due to the second wave of coronavirus, ad volumes rebounded in July-September with a ‘V’ shape recovery and an 11 percent surge over the prior quarter.

With an increase in TV ad volumes in July-September period this year, the number of categories, advertisers, and brands climbed by six percent, 12 percent, and 12 percent, respectively, over the same period last year, according to AdEx India, a division of TAM Media Research, a television audience measurement analysis firm.


FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 2,300.65 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,367.80 crore in the Indian equity market on November 25


Stock Specific News:

Tarsons Products | The company will make its debut on the bourses today. The issue price has been fixed at Rs 662 per share.


JSW Steel | The Mumbai GST zone detected tax evasion of Rs 265 crore by JSW Steel, sources told CNBC-TV18.


Greenlam Industries | The company's board meeting is scheduled to be held on December 13, 2021, inter alia, to consider and approve the proposal to sub-divide/split the face value of equity shares of the company from Rs 5 per share to Re 1 per share.


Aditya Birla Capital and Honeywell Automation India | NSE has included these two new stocks in Futures and Options series from December 31.


Kirloskar Ferrous Industries | The company has agreed to acquire a majority stake in ISMT by subscribing to equity shares of ISMT through preferential allotment and sole control over the ISMT.


Visagar Financial Services | The board has approved sub-division of face value of equity shares from Rs 2 to Re 1, and issue of bonus equity shares of Re 1 each in the ratio of 1 share of Re 1 each for every 2 shares of Re 1 each held by members.


Engineers India | The company and Chempolis OY, Finland, have signed a strategic alliance for the conversion of biomass to green fuels.


Aurobindo Pharma | Life Insurance Corporation of India bought 79,000 equity shares of Aurobindo Pharma through an open market transaction on Wednesday. With this, LIC's shareholding has risen to 5.01 percent from 4.99 percent.


SpiceJet | The airline has settled a lawsuit filed by aircraft lessor Goshawk and its trustee Wilmington Trust SP Services Dublin attempting to block the transfer of its cargo and logistics business to a separate company, a news report said. The settlement paves the way for SpiceJet to complete the spin-off by January 2022.


Kirloskar Pneumatic | HDFC Asset Management Company sold 16.58 lakh equity shares of Kirloskar Pneumatic through an open market transaction on Tuesday. Post this, the AMC's shareholding has fallen to 3.62 percent from 6.19 percent.


Aro Granite Industries | Lodha Chanchal Devi acquired 2 lakh equity shares in the company at Rs 74.16 per share on the NSE, the bulk deals data showed.


GTL | Punjab National Bank sold 9,62,872 equity shares in the company at Rs 15.6 per share on the NSE, the bulk deals data showed.


Indiabulls Housing Finance | BNP Paribas Arbitrage sold 23,59,500 equity shares in the company at Rs 221.75 per share and Societe Generale offloaded 27,40,400 equity shares in the company at Rs 221.34 per share on the NSE, the bulk deals data showed.


SIS Ltd | American Funds Fundamental Investors acquired 26,27,271 equity shares in the company at Rs 535 per share on the BSE, the bulk deals data showed.


Jyoti Structures | Follis Advisory LLP picked up 10.65 percent stake (7.5 crore shares) in the company through preferential allotment.


Nazara Technologies | The company completed acquisition of OpenPlay Technologies and OpenPlay has become the wholly owned subsidiary of the company.


Moneyboxx Finance | The company on December 1 will consider fund raising by way of issue of equity shares/warrants/convertible instruments through preferential allotment.


Mazagon Dock Shipbuilders | Indian Navy has commissioned the Fourth Scorpene Class Submarine i.e (INS Vela) built by Mazagon Dock Shipbuilders.


Nagarjuna Fertilizers and Chemicals | The company has taken a temporary shutdown of urea production in Plant - I, on November 24 to take up temporary repairs.



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