NBCC (India) Limited received work orders worth ~ Rs.62.62 crore in the normal course of business - GEPL Capital Ltd
Market News:
* DEVIT secured a major work order to develop IFMS 3.0 web and mobile applications for the Directorate of Treasuries and Accounts, Government of Rajasthan, through its NICSI empanelment.
* MEERA Industries’ Plastic Division secured a Rs.4.34 crore order for clear packaging film, reinforcing its strong growth outlook.
* NBCC (India) Limited received work orders worth ~ Rs.62.62 crore in the normal course of business.
Technical Summary:
The index opened on a weak note and remained volatile throughout the session, swinging on both sides while continuing to hover within the 25,184–24,932 range. On the daily scale, the index is placed near its trendline support around the 25,000 level. On the sectoral front, Metal and CPSE indices emerged as the top gainers, while Media and Auto indices were the top laggards for the day.
Levels to watch:
The Nifty has its crucial resistance 25300 (Pivot Level) and 25500 (Key Resistance). While support on the downside is placed at 24900 (Multiple Touches) and 24700 (Key Support)
What should short term traders expect?
The Index can short below 25000 for the potential target of 24900 AND 24850 the stop loss of 25100 level.
Technical Data Points
NIFTY SPOT: 25236 (0.75%)
TRADING ZONE: Resistance: 25300 (Pivot Level) and 25500 (Key Resistance).
Support: 24900 (Multiple Touches) and 24700 (Key Support).
STRATEGY: Bearish till below 25500 (Pivot Level).
BANK NIFTY SPOT: 59357 (1.51%)
TRADING ZONE: Resistance: 59600 (Pivot Level) / 60000 (Key Resistance)
Support: 58800 (Pivot Level) / 58500 (Key Support)
STRATEGY: Bearish till below 59500 (Key Resistance
SEBI Registration number is INH000000081.
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