Pre-market analysis

1)Nifty closed at 10739.95 up 1.15%% and banknifty closed at 21597.15 up 1.20%.

2)Yesterday,Global markets closed negative.

3)Today, US and Europe futures are trading positive and asian markets opened flat to positive and sgx nifty is trading at 10778 up 0.70%.

4) We may open gap up of around 90-100 pts and follow global futures as the day progresses.
Today being friday, we may see shortcovering in banks and profit booking in IT.10500 will act as good support and 10800 will act as resistance,if opened gap up above 10800,need to if it can sustain above 10800 which will open gates for 11000.

5)Support and resistance for Nifty and Banknifty  for intraday.

6)Nifty option pain is at 10700 and banknifty option pain is at 21500.

7)Nifty may trade between 10500 and 11000 and banknifty may trade between 21000 and 23000 for this week.this are very strong support and resistances as per oi chain.

8)Results today and important events.

9)Stocks in news.

L&T Tech
Has signed a Share Purchase Agreement to acquire texas based Orchestra Technology, Inc. for USD 25 Million

Endurance Technologies
Subsidiary in Italy Endurance SpA has decided to undertake consolidation of its foundry activities  which is expected to result in annual savings of around Euro 600,000.

Thomas Cook India
“Thomas Cook India inks agreement to take over the portfolio of dnata Travel India’s Corporate Travel business

ALKEM LABS
Gets US FDA Nod For Brompheniramine Maleate, Dextromethorphan Hydrobromide
Gets US FDA Nod For Pseudoephedrine Hydrochloride
The Combination Is Used To Treat Allergy & Cold Symptoms

CADILA HEALTHCARE
Zydus Gets US FDA Nod For Betamethasone Dipropionate Ointment
Betamethasone Dipropionate Is Used For Treating Itching & Skin Conditions Such As Eczema

INTERGLOBE AVIATION / SPICEJET IN FOCUS
International Flights To US and France Set To Resume from today on interim basis
India is working on similar agreements with the UK and Germany too


10)Results

L&T Tech Q1 QoQ ~ Below Estimates 
Profit Down 42.7% At `117.2 Cr  Vs `204.8 Cr
Revenue Down 10.5% At `1,294.7 Cr  Vs `1,446 Cr
$ Revenue Down 11.8% At $171 m  Vs $195.4 m
EBIT Down 28.7% At `156.7 Cr  Vs `219.8 Cr
EBIT Margin At 12.1% Vs 15.2% 

Cyient Q1 QoQ ~ Good
Net Profit UP 76.2% At 81.4 Cr  Vs 46.2 Cr
Revenue Down 7.6% At 991.7 Cr  Vs 1,073.6 Cr
EBIT Up 10.6% At 50.2 Cr  Vs 45.4 Cr
EBIT Margin At 5.1%  Vs 4.2%


11)F&O BAN

Still in Ban: CANBK, CENTURYTEX, IDEA, L&TFH, PNB, SUNTV
Out of Ban: EQUITAS, ESCORTS, MINDTREE, SAIL


12)Happy Trading

13)Follow our telegram channel 'Optionstraders' for calls on equity and options.

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