25 Sep Tech View


Nifty 8002
After flat opening Nifty has witnessed volatility throughout the day and finally ended with “Long Legged Doji” an uncertain candlestick pattern on daily chart. Daily momentum indicators are reading bearish where as hourly RSI has shown sign of recovery from lower level but over all chart structure remains jittery. Nifty intraday support placed at 7975 – 7955 levels and resistance placed at 8030 – 8055 levels.

Bank Nifty 15740
After negative opening Bank Nifty has maintained its earlier days, trend of lower lows lower highs and finally ended with “Long Black Candle” a bearish candlestick pattern on daily chart. Short term trend has been down and Bank Nifty has broken six months old upward slopping trend line support. Bank Nifty intraday support placed at 15680 – 15625 levels and resistance placed at 15800 – 15850 levels.

Economic Times
Business Standard
Ø  CIL likely to take charge of 40 coal mines
Ø  Government defers revision of gas prices to November 15
Ø  Coal: Banks with Rs 1L-cr exposure sitting on mine of worries 
Ø  US government sues bitcoin business
Ø  Delhi HC notice to Centre on RIL's plea seeking dismissal of ONGC petition on gas exploitation
Ø  JP Power's deal with Reliance Power collapses
Ø  SC cancels 214 of 218 coal block allocations
Ø  SC verdict on coal blocks: Relief for NTPC, SAIL, RPower
Ø  Unitech, UCP get BoA approval for stake sale in 5 SEZs
Ø  Textiles Ministry to launch venture capital fund with SIDBI
Ø  Govt streamlines execution of Rs 1.50 lakh cr highway projects
Ø  SBI board nod for 1:10 share split to broaden participation
Business Line
Ø   Iran puts ONGC discovered gas field on auction list 
Ø  Titan to spin off precision engg division as wholly-owned arm 
Ø  Dr. Reddy’s launches Levalbuterol Inhalation Solution in USA 
Ø  JK Tyre may gather speed on stock split 
Ø  Merchant bankers vie for managing PFC, REC stake sale
Ø  NCDEX launches forward contract in agri commodities      
Ø  Zuari Group to launch open offer for Mangalore Chemicals on 1 October
Ø  Coal India promises higher bonuses to woo staff before sale
Ø  RBI panel calls for more specialization, training in banking
Ø  Accenture quarterly revenue rises 9.7%
Ø  India VIX posts biggest 2-day gain since August ahead of derivatives expiry
Financial Express
Financial Chronicle
Ø  Banks stare at uncertainty over Rs 60,000-cr exposure
Ø  Indo-US civil nuclear deal hits Japanese roadblock
Ø  Centre’s plan to divest 5% in SAIL put on hold on weak share price
Ø  US likely to revive defence trade during PM’s visit
Ø  L&T launches $200-m FCCB
Ø  SC cancelling coal block allocation will enable fresh start
Ø  Blackrock increases stake in Nokia Corp by over 5%
Ø  Private telcos can play big role in Digital India retail rollout
Ø  Price caps on non-essential drugs revoked
Ø  Hope govt will devise relief plan: Birla on coal blocks order


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