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10 POINTS DONE WITH 4 POINTS STOPLOSS

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Morning Update (16th February)

NIFTY: The index remained sideways to bullish after a gap up opening. Index formed a doji on the daily timeframe, and is expected to remain sideways. Bullish continuation is expected if the index closes above the crucial level of 22000.

BANK NIFTY: Index was bullish as it continues to trade in a range. Bullish momentum will continue if the index closes above 46300. View is sideways to bullish.

Index Levels

NIFTY
Intraday Support Level: 21500
Intraday Resistance Level: 22000

BANK NIFTY
Intraday Support Level: 45700
Intraday Resistance Level: 46600

Stocks in News

-NMDC to ramp up gold mining in Australia and commence pre-feasibility studies soon for lithium reserves in Australia.
-Coal India inks MoU with Haryana for PPA for 800 megawatts (MW) of power from Mahanadi Basin Power (MBPL).
M&M evaluating EV battery manufacturing unit for its own EVs
-NBCC to redevelop housing project for MEA (Ministry of External Affairs) for Rs 262 crore
-Swan Energy to raise Rs 4,000 crore via QIP to be launched in Feb
-Carlyle Group sells Rs 1,056 crore worth stake in Yes Bank.

Results Corner

R Systems Q3: YoY consolidated net revenue up 4.21% to Rs 416.32 cr, and net profit up 11.58% to Rs 46.17 cr.

Alembic Ltd Q3: YoY consolidated net revenue up 28.45% to Rs 39.32.02 cr, and net profit down 8.32% to Rs 9.92 cr.

Results Today: Schaeffler, Par Drugs, CRISIL and more.

Quick Takeaways

-Government hikes windfall tax on crude oil and diesel with effect from Feb 16.
-Vibhor Steel Tubes IPO oversubscribed 320 times on final day of offer, highest in the last three years for Mainboard IPOs.
-Vedanta's promoter company sells 1.7% stake for Rs 1,737 crore

F&O Ban on NSE:

-IndusTower
-BalrampurChini
-DeltaCorp
-SAIL
-IndiaCement
-HindCopper
-ZEEL
-BandhanBank
-ABFRL
-AshokLeyland
-Biocon
-CanaraBank

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