Aditya Agarwala, YES Securities
Benchmark indices snapped three days of gains to shut shop in the red, down by 1%. Further, it failed to sustain beyond the 78.6% Fibonacci retracement level placed at 15,225 and the intermediate support at 15,175 leading to deeper corrections in the second half of the trading session. On the downside, immediate support is at the 20-DMA, placed at 15,000 levels below which the selling pressure will intensify, dragging the index lower to levels of 14,870-14,775.
RSI on a shorter time frame has turned downwards after forming a negative divergence, suggesting sustained choppy trading sessions in the coming week. On the flip side, if bulls manage to take the index beyond the resistance cluster of 15,175-15,225, fresh up move will resume taking the index to levels of 15,350-15,400.
To manufacture and supply Rynaxypyr activeUPL announced a long-term strategic collaboration with FMC
Corporation, a leading global agricultural sciences company. The agreement provides UPL access in key markets prior to patent expiration, to commercialize Rynaxypyr active, FMC s leading insecticide. As per
the agreement, UPL will toll manufacture and supply Rynaxypyr to FMC in India, and FMC will supply the active ingredient to UPL depending on the markets. The deal adds a key portfolio of products to UPL s
business and supports FMC in maximizing the penetration of this important active ingredient.
Rynaxypyr is considered a reduced risk pesticide due to its favourable toxicological and environmental
The long-term strategic collaboration provides UPL access in key markets prior to patent expiration, to commercialize FMC Corporation s leading insecticide, Rynaxypyr active.
As per the agreement, UPL will toll manufacture and supply Rynaxypyr to FMC in India, and FMC will supply the active ingredient to UPL depending on the markets. The deal adds a key portfolio of products to UPL s business and supports FMC in maximizing the penetration of this important active ingredient.
Rynaxypyr is considered a reduced risk pesticide due to its favourable toxicological and environmental profile. It is a useful tool for farmers in integrated pest management systems. This provides opportunities for growers to implement more sustainable solutions, supporting UPL s mission to make every single food product more sustainable.
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NEW DELHI: Around 10 stocks fell to touch their 52-week lows on NSE in Monday s session. Among the stocks that touched their 52-week lows on NSE were: Best Agrolife, Jindal Cotex, Antarctica Ltd, Khaitan (India), Quintegra Solutions, Regency Ceramics, Tarapur Transformers, Kavveri Telecom Products, Bharatiya Global Infomedia and Patel Integrated - Rights Entitlement. Domestic benchmark index NSE Nifty was trading 154.85 points up at 14684.0, while the BSE Sensex was trading 506.49 points up at 49606.48. On the other hand, MMTC, NBCC, Infibeam Avenues, FACT and Aditya Birla Fashion (PP) stocks hit their fresh 52-week high today.
In the Nifty 50 index,
UPL , ONGC, M&M, Power Grid and Titan Company were among the top gainers on the NSE. However, Bharti Airtel,