Natco Pharma Gets CDSCO Nod for Generic Semaglutide in India - GEPL Capital Ltd
Market News:
* Natco Pharma has secured CDSCO approval to manufacture and market a generic version of semaglutide injection in India.
* Torrent Power will acquire Nabha Power Limited, strengthening its thermal power generation portfolio.
* Shriram Properties has completed the acquisition of a prime land parcel on Sarjapur Main Road, reinforcing its presence in South-East Bengaluru.
Technical Summary:
The index opened on a gap-down note but quickly recovered after marking the day’s low at 25,372 during the initial phase of trading. Following the early rebound, the market moved in a narrow range for some time before regaining upward momentum in the second half of the session. Strong buying interest later in the day pushed the index to an intraday high of 25,686. On the daily timeframe, the index formed an Outside Day candle pattern, reflecting heightened volatility and a wide trading range compared to the previous session. From a sectoral perspective, most sectors ended in the green, indicating broad-based participation. Notably, Realty and PSU Bank stocks emerged as the top outperformers of the day, contributing significantly to the index’s recovery and positive close
Levels to watch:
The Nifty has its crucial resistance 25900 (3 Day High) and 26150 (Key Resistance). While support on the downside is placed at 25500 (Key Support) and 25372 (Day Low).
What should short term traders expect?
The Index can LONG above 25900 for the potential target of 26150 the stop loss of 25750 level.
Technical Data Points
NIFTY SPOT: 25682 (+0.83%)
TRADING ZONE:Resistance: 25900 (3 Day High) and 26150 (Key Resistance)
Support:25500 (Key Support) and 25372 (Day Low).
STRATEGY Bullish above 25900 (3 Day High).
SEBI Registration number is INH000000081.
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