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SumanSpeaks Capital Markets & Geopolitical Intelligence · Estd 2006 Governance · Regulatory Risk Reliance Power: When Legal Clouds Gather Over Market Euphoria ₹20,367 crore attached across the Reliance Anil Ambani Group. A ₹68.2 crore fake bank guarantee at the centre of it. A former CFO in custody for ten months and counting. And a stock that's still down more than half from its 52-week high even after a sharp rally. The market is pricing the turnaround. The Enforcement Directorate is pricing the history. Both can't be right forever. Reliance Power Ltd (₹24.07) has genuinely turned a corner operationally over the past two years — debt reduction, a growing renewable and BESS order pipeline, and periods of sharp investor re-rating. That part of the story is real and deserves credit. But sitting underneath that story is a live,...
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#Tomorrow the market is expected to open gap up,  but we may have corrections at the end if the closing.

The key support for Nifty comes at around 12,182, followed by 12,120. The important Nifty resistance levels to watch out for are 12,285/12,323. This is a sell on rise market.
#You can short the banking stocks in the opening trade and then book profits at the end if the day.

 #There was not a single stock that saw long unwinding on December 27.
In Cadila Ltd (Rs.257.70) and Yes Bank (Rs.45.30), there was short built up,  while we could see some actions in Page Industries Ltd (Rs.23,600) and MRF Ltd (Rs. 66,845).

 #Though through OT,  the short term interest rates might cool down a bit, but it is doubtful whether it will help increase the credit uptake. There is another problem,  with inflation monster popping its head up,  too much liquidity in the system might precipitate its (inflation's) unabated upward march. It therefore, remains to be seen how the current FM,  mends the Indian economy ruined by Narendra Modi's misadventures and whims. 

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