Wednesday, October 21
Benchmark indices edged higher on Wednesday on buying in bellwether stock Reliance Industries amid a largely firm trend in global markets.Stocks that were in focus include names like RIL, which rose 1.07% and Infosys, which gained 0.6% and Axis Bank, whose shares fell 2.5% on Wednesday.Here's what Riyank Arora, Technical Analyst at Mehta equities, recommends investors should do with these stocks when the market resumes trading today.ET Big Movers AnalysisReliance Industries (RIL)RIL is currently trading near Rs 1251, facing resistance at Rs 1255, a level tested multiple times in recent sessions. The stock has witnessed consolidation with improving RSI at 51, signaling steady momentum. Key support is at Rs 1243, which aligns with its 9-day EMA.A breakout above Rs 1270 could lead to targets
It is a busy day for investors in the third quarter earnings calendar as a slew of heavyweight companies will announce their results on Thursday. Key earnings to watch out include from Reliance Industries Ltd (RIL), Infosys, Axis Bank and LTIMindtree.Apart from the above, companies like Havells India, Mastek, Metro Brands, Mudra Financial Services, GG Engineering, Hatsun Agro Product, Hawa Engineers, Kesoram Industries, DB Corp, GG Engineering and a few others will also declare their quarter results.RIL Q3 expectationsAfter two muted quarters, Reliance Industries Ltd (RIL) is likely to deliver robust earnings in the third quarter, supported by a favorable operating environment across its key segments.Net profit for the October-December 2024 period is seen rising 3% year-on-year (YoY), acco
High voltage power lines? Arson? Embers from a minor blaze that smoldered and reignited days later? All of the above? Speculation on what caused the Los Angeles-area fires abounds - as does the related question of who'll pay for the damages. As my Reuters colleagues reported, the first lawsuits have already been filed against Southern California Edison. The suits allege the investor-owned power company's equipment is responsible for igniting the Eaton fire in Altadena, which according to Cal Fire has burned more than 14,000 acres and destroyed at least 4,600 structures. The fires broke out amid high winds, low humidity and an unusually dry winter in Southern California. Southern California Edison "understands lawsuits related to the Eaton fire have been filed," a company spokesperson told
The negative pattern like lower tops and bottoms is still intact in Nifty charts and further upside bounce with a lack of strength could probably confirm the lower top reversal at the highs.The short-term trend of Nifty is positive but the market is lacking the strength to witness sharp upside breakouts of the hurdle. A sustainable move above 23,400-23,450 levels could possibly bring more short covering and push Nifty towards 23700. Immediate support is placed at 23150, said Nagaraj Shetti of HDFC Securities.In the open interest (OI) data, the highest OI on the call side was observed at 23,500 and 23,400 strike prices, while on the put side, the highest OI was at 23,200 strike price followed by 23,300.What should traders do? Here’s what analysts said:Jatin Gedia, Mirae Asset SharekhanNif
