"We continue to expect Nifty to be in a narrow range due to a lack of positive triggers. In the meantime, niche mid and small cap sectors are likely to remain in action," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
“A mixed trend on the sectoral front would continue to offer trading opportunities on both sides so plan your trades accordingly,” said Ajit Mishra, SVP - Technical Research, Religare Broking. Reliance Industries (RIL), Adani Enterprises, Jio Financial Services (JFS), Lupin among stocks to watch on Monday.
Reliance Industries will convene its 46th annual general meeting (AGM) on August 28, 2023. The energy-to-telecom conglomerate RIL AGM will be conducted through Video Conferencing and Other Audio-Visual Means. The meeting will begin at 2 pm.
Drug maker Lupin on Friday said it has received approval from the US health regulator to market a generic product, used in the treatment of a lung disease, in the American market. The company has received approval from the US Food and Drug Administration (USFDA) to market Pirfenidone tablets in strengths of 267 mg and 801 mg.
Punit Goenka, former head of Zee Entertainment Enterprises, on Friday moved the Securities Appellate Tribunal (SAT) challenging a recent confirmatory order by Securities and Exchange Board of India (Sebi) that restrained him and Subhash Chandra from holding any key positions in Zee group entities until further orders.
Reliance Industries Limited will hold its annual general meeting (AGM) with the shareholders on August 28. While major decisions are expected to unfold around new energy ambitions, succession plans, retail services and the telecom sector, the newly formed Jio Financial Services will be in focus as it was recently listed on the stock exchanges on August 21.
Markets regulator SEBI in an affidavit informed the Supreme Court that out of its 24 investigations in the Adani-Hindenburg matter, 22 are final in nature and 2 are interim. SEBI is now awaiting from external agencies on two probes. The interim probes covered 13 overseas entities of Adani's companies. It has further sought details from five countries on FPIs.
"The short-term trend of Nifty continues to be negative and there is a possibility of some more weakness in the coming sessions. However, a sizable upside bounce from the important lower support of 19K mark can't be ruled out in the near term. Immediate resistance is placed at 19,380 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“The pullback rally in Bank Nifty has fizzled out at the 44,900-45,000 zone where resistance in the form of the 50% Fibonacci retracement level was placed. The daily and the hourly momentum indicators provide divergent signal and hence a consolidation is likely. The range of consolidation is likely to be 44,800-43,900," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
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