The Nifty’s
swing low is at around 21700 level which is the big support level. If Nifty
breaks this
support level on Monday, it can go down towards 21200 level in the
upcoming
days. If Nifty can trade above 21200 level and the country’s big giant
Reliance
Industries makes better results tomorrow, then Nifty will move upward.
Positional
buying in Nifty should only be recommended above 22350 level. Immediate
resistance is
at 21950.
Bank nifty’s
support level is at 46500 level which is big support level. If Bank nifty can
trade decisively
above this level and if we can see tomorrow the results effect of country’s
biggest
private Bank HDFC Bank Nifty will go upward. If Bank Nifty breaks this level it
will go down
upto 45900 level.
Results Update:
HDFC Bank : HDFC Bank country's largest private sector bank
posted a net profit of Rs.16511 crore for Jan-March quarter for the financial
year 2023-2024,0.84% jump in profit compared to Rs.16373 crore last quarter as
per market estimates.
Gross non-performing
asset(NPA) of the bank came at 1.24%, slightly down from 1.26% in the last
quarter.Total deposits is at Rs.23.79 lakh crore.CASA deposits is as follows;
current account at Rs.3.1 lakh crore & savings account at RS 5.87 lakh
crore.
HDFC Bank made a big
bullish candle on last Friday which is a positive sign for upward movement. If
it can cross 1555 it can move upto 1600 and above.
Reliance Industries
: Reliance Industries will report
its quarterly results for Jan-March quarter of 2023-2024 FY on Monday,22nd
April.The board of directors of the company will also consider to allot a
dividend for the financial year 2024.Billionaire Mukesh Ambani owned company is
likely to report stronger revenues and better operational performance in this
quarter mostly driven by its telecom and retail businesses.
Disclaimer: The information provided on MoneyWiseMind is for educational and informational purposes only. It is not intended to be financial advice, and you should not rely on it as such. Before making any financial decisions, you should consult a licensed financial advisor.
