Shares of Tech Mahindra fell over 4%, the steepest intraday decline in four sessions, after the company reported net income for the December quarter that missed the average analyst estimate.
Resistance levels for Today Nifty are 17850
“On the technical front, the key resistance levels for Nifty 50 are 17,850 followed by 18,000 and on the downside 15,000 followed by 17,350 can act as strong support. Key resistance and support levels for Bank Nifty are 39,000 and 38,000 respectively,”.
Alembic Pharma Jumps On U.S. FDA Nod For Fesoterodine Fumarate Tablets
Shares of Alembic Pharmaceuticals Ltd. rose 1.5% to Rs 773.5 apiece after the company received the U.S. FDA nod for its ANDA for Fesoterodine Fumarate Extended-Release tablets, 4 mg and 8 mg. It is indicated for treatment of overactive bladder in adults. The estimated market size of $225 million for twelve months ending September 2021, according to IQVIA.
Nifty Head towards 18,200 in Coming Months [02-02-2022]
We believe the risk-reward has turned favourable for long term investment as majorpart of the price wise correction (8%) is already over. Therefore, investors should use the current volatility in the markets to accumulate qualitystocks as we expect the Nifty to surpass the immediate hurdle of 17600 and eventually headtowards 18200 in coming months.
Sensex, Nifty Open Higher; Banking Stocks Lead Advance
India’s stock benchmarks advanced, aided by gains in telecom, banking, power stocks, amid recovery in U.S. equities as Federal Reserve officials favoured measured policy tightening.
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