Pre-market analysis

1)Nifty closed at 11561 down 0.76% and banknifty closed at 22320.35 down 1.12%.

2)Global markets closed negative yesterday.

3)Today, US and Europe futures are trading negative to flat and asian markets are trading negative to flat and sgx nifty future is trading at 11539.00 up 0.10%.

4) We may open flat or gap up of around 20-30 pts and follow global futures as the day progresses. Today will be very volatile day,wild swings were seen yesterday in global markets.
Today may be day belong to banks,expecting shortcovering nifty bank and once again nifty pharma will be in action.

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

6)Nifty option pain is at 11,500 and banknifty option pain is at 22500.

7)Nifty may trade between 11200 and 11700 and banknifty may trade between 22000 and 23000 for this week.this are very strong support and resistances as per oi chain.

8)Results today
No result announcement of any important company.

9)Stocks in news

Dr Reddy's
Settled Patent Litigation For Revlimid With Celgene
Celgene Allows Co To Sell Lenalidomide in ltd volumes  In The US Post Mar 2022
medication used to treat multiple myeloma – cancer drug ADR gains 6.86%

CIPLA & LUPIN IN FOCUS 
Perrigo Recalls Drug
- Voluntarily recalls Albuterol Sulfate inhalation aerosols over clogging concerns 
Macquarie says : Setback for Perrigo is an unexpected gain for Cipla & Lupin
4-6% upside if Cipla & Lupin see incremental $20 m in sales

EIH
Sets Rights Share Issue Price At 65/Sh ( discount of 24.8% to CMP)
Shareholders To Get 8 Rights Shares For Every 85 Shares Held
Co is raising 350cr via rights issue

OMC’s
Petrol demand reaches pre covid level.
Petrol sales between September 1 and 15 up 2.2 %yoy and up 7%
Diesel sales -6% yoy ;  But, 19.3% up August 2020.

VEDANTA
Vedanta Resources Ltd has approached the Securities and Exchange Board of India (Sebi) for necessary approvals to start the reverse book building process. 
Co has set an indicative floor price of Rs 87.5/sh 

EICHER MOTORS
Royal Enfield raises prices on all its Bharat Stage-VI (BS-VI) emission norm compliant models. 
The price hike, is in the Rs 1,800-2,800 range.
2nd time price hike by co. 
 
RITES LTD
Board Meeting TODAY To Consider The Proposal For Buy-Back
 
MRPL
AGM ToDAY To consider and obtain shareholders approval to raise funds upto Rs 5000 Crore  issue of NCDs/ Bonds


Sterling And Wilson
Gets Order Worth 460 Cr In Chile

Hindalco, Hindustan Copper In MoU For Supply Of Copper Concentrate

10)Results
No results update

11)Happy Trading

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

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1)Nifty closed at 13529.10  up 1.02% and banknifty closed at 30709.40 up 1.48% 2)Global market closed negative yesterday. 3)Today, US and Europe futures are trading mixed and asian markets are trading positive and sgx nifty future is trading at 13509.20 down 0.50% 4) We may open flat or  gap down of around 50-80 pts and follow global futures as the day progresses. Today It sector may face profit booking, pharma should be support for not sp big fall in nifty. Being expiry today ,market will be volatile. 5)Support and resistance for nifty and banknifty 6)Nifty option pain is at 13450 and banknifty option pain is at 30500. 7)Nifty may trade between  13000  and 13500 and banknifty may trade between  29000  and 30500 for this week.this are very strong support and resistances as per oi chain.   8)Stocks in news     1- IRCTC 2- NBFC 3- SCI 4- MARUTI 5- PFIZER 6- FEDERAL MOGHUL 7- CEMENT STOCKS  8- M&M ...
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