StockTalks©

Real GDP projection lowered to 6.8%

#RBIPolicy | RBI’s Monetary Policy Committee hikes #RepoRate by 35 bps to 6.25%. The policy rate is now at the highest level since August 2018

#CNBCTV18At23 https://t.co/Q1iOw2v2YL

*Reliance Industries (RIL) 45th Annual General Meeting (AGM) is set to begin at 2 pm today* 📢 📝

*What to expect from Reliance AGM today?*

1. Reliance succession plans.

2. 5G rollout and Tariff plans.

3. IPO for Reliance Jio.

4. Updates on the previous year's announcements such as four Giga factories for Energy.

5. Updates on Green Energy investments by Reliance and future prospects.

Keep a watch, the stock has been consolidating since morning after recovering from the gap-down opening.

*✅✅The major resistance is 2680 and the major support is 2570 for any big move to either side.*

More will update soon!

Stocks in News 🗞 👀

IndusInd Bank: The private sector lender says the board has approved the raising of funds up to Rs 20,000 crore through debt securities on a private placement basis. The fundraising is subject to the approval of the members of the bank.

Alok Industries: The textile company posted a consolidated loss of Rs 141.58 crore for the quarter ended June 2022, which widened from a loss of Rs 97.65 crore in the same period last year, due to higher raw material, and power and fuel costs. Revenue increased significantly by 56 percent YoY to Rs 1,971.52 crore in Q1FY23.

Tube Investments of India: The company through its subsidiary TI Clean Mobility (TICMPL) acquired a 65.2 percent stake in IPLTech Electric (IPLT), through a combination of purchase of equity shares from the founders and other existing shareholders of IPLT. The acquisition cost is Rs 246 crore. IPLT is a startup engaged in the manufacturing and sale of electric heavy commercial vehicles. In addition, the company decided to make a further investment of up to Rs 150 crore in subsidiary TICMPL and provision of inter-corporate deposit of an amount of up to Rs 100 crore to TICMPL.

Nelco: The company clocked a 7.8 percent year-on-year growth in consolidated profit at Rs 4.72 crore for the quarter ended June 2022 supported by a robust topline. Revenue grew by 48 percent to Rs 81.68 crore during the quarter YoY.

Excel Realty N Infra: The company said the board will hold a meeting on August 4 to consider the sub-division of face value of Equity shares, and the issue of bonus share.

Surya Roshni: The company received orders worth Rs 91.27 crore for API-5L grade 3LPE coated pipes from Bharat Gas Resources. The contract will be executed within 12 months.

Pre Market Update


📌Trends on SGX Nifty indicate a positive start for the broader index in India, with a gain of 164 points or 1.02 percent. The Nifty futures were trading around 15,909 level on the Singaporean Exchange at 7:30 IST.


📌Sustain above 15,858 levels the bulls can make efforts to consolidate in a range of 15,950 and 16,275 levels.In between, a close above 16,150 can confirm some kind of strength for the index

*Good Morning Traders 🌞*

*Yesterday, Nifty Sensex ends flat after a volatile trading session of Expiry Day!*

India VIX (up by 0.18%) to end at 18.34

Nifty open interest put-call ratio (PCR): 0.71

Bank Nifty open interest put-call ratio (PCR): 0.82

*Today's Index Technical Levels*


*Nifty Technical Levels*

The Nifty has been trading continuously below 16000 and the 50-day SMA (Simple Moving Average), which is widely bearish.

The index is clinging to a lower top shape on intraday charts, indicating short-term weakness.

For bulls 🐂, the major resistance level would be 16000, and over it, the index may rise up to 16100-16150.

On the other hand, 15850 would be the major support level, and if it falls further, the index might go as low as 15800--15725.


*Bank Nifty Technical Levels*

The Bank Nifty index was under pressure from higher levels and encountered solid resistance in the 35,200-35,300 range.

Lower-end support is around 34,400, and a break of this level will result in increased selling pressure towards 34000.

The index is essentially trapped in a range between 34,400 and 35,300, and a break on either side will result in trending move.

More will update during market hours.