The 50- bundle stocks opened higher at 12021.10 with positive biasness but not able to remain at the levels of 12000 and slipped to the lower levels of 11983.60. Bears are more active at 12000 levels as higher selling pressure is seen on the same levels. Index may take a small correction and reaches to the levels of 11800. On Daily chart, Nifty is sustaining above 50 and 200 days moving averages. The RSI is trading at 70.45l levels which indicates no sign of divergence. Indian rupee opened at 71.05 per dollar against previous close of 70.98.
Niftybank: Niftybank is opened on a flat note at 30722.60. It is sustaining above 50 days and 200 days simple moving average. It is consolidating in the range of 30400 to 30850. The strong support and resistance levels are placed at 30200 and 30950.
Stocks in Limelight:
Infosys: The company received letters from the Secretary, National Financial Reporting Authority and the Registrar of Companies, Karnataka, seeking certain information in connection with anonymous whistleblower complaints.
Tatasteel: Q2 Result: The company announced consolidated profit rises 6 percent to Rs 3,302.3 crore versus Rs 3,116 crore, revenue dips 15.4 percent to Rs 34,579.2 crore versus Rs 40,897 crore YoY.
Ibulhshfin: Q2 Result: The company reported consolidated profit dips 11.5 percent to Rs 709.5 crore versus Rs 801.5 crore, revenue drops 12 percent to Rs 3,419.5 crore versus Rs 3,885 crore QoQ.
Sunpharma, BPCL, DLF, Hindpetro, IGL, Aditya Birla Capital, Adani Transmission, Andhra Bank, Power Grid, United Breweries, UCO Bank, UPL, Wockhardt.