Read more about Nifty trades above 15,650; NSE VIX slumps to 15 mark on Business Standard. The domestic equity benchmarks continued to trade with decent gains in morning trade. The Nifty was trading above the 15,650 mark. Realty and media stocks were in demand.
They then proceeded to establish a joint venture named Shree Cement East Bengal Foundation, in which the cement giants held 76 per cent stakes while the club had 24.
After Shree Cement s arrival, a term sheet was signed by both parties in September 2020 in the presence of West Bengal Chief Minister Mamata Banerjee who had played an important role in bringing the company on board as the club s new investor.
On the basis of the term sheet, the club’s sporting rights as well all its assets and properties (including intellectual) were reportedly transferred to the newly formed joint venture between the two parties.
By Amit Trivedi, Technical Analyst - Institutional Equities, YES Securities
Nifty commenced this week on a positive note. However, after that it faced mild pullback till 14885. In today’s trade, Nifty recouped prior session’s losses and closed near day’s high (up 1.9%). Nifty formed ‘above the stomach bullish candle’ pattern (i.e. opened above mid-point of the prior bearish candle and closed near day’s high), the said pattern indicates that levels of 14,950-15,000 could turn out as immediate support zone.
Bulls made a strong comeback in BankNifty. Surpassing the prior month’s peak of 34287, BankNifty formed a large bullish candle. Levels of 33,500 are likely to act as an immediate floor, while the rally could continue till the 35,000-35,200 zone.