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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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At 11.15 am the BSE Sensex was seen at 38,034.76 up 163.24 points (+0.43%), while the Nifty was trading at 11,191.35 up 58.75 points or (+0.53%).

In the broader market, the BSE Mid-Cap index rose 0.74% while the S&P BSE Small-Cap index gained 0.57%.

The market breadth was strong. On the BSE, 1253 shares rose while 788 shares fell. A total of 124 shares remained unchanged.

#With not much positive news in the horizon, we can look for corrections in Nifty. Buy 06 August, Nifty 9700 Put at Rs.9.30 for targets of Rs. 15/17. SL: Rs.4.00. 

#The scrip of Texmaco Pipes and Products Ltd is getting strong resistances at Rs.14/15 ranges.  So,  for the time being don't do further averaging. 

#The stock of Spandana Sphoorty Financial Limited (Rs.628.30) can be accumulated in phases starting from the CMP to up-to Rs. 500, for the targets mentioned earlier. 

#Sell 30 July NCC Ltd futures at Rs.32.10, for short term targets of Rs.27/28. SL: Rs.35.

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