Tit - bits

Photo: P R Newswire 

Domestic bourses continued their forward march  for the fourth straight session on Monday, taking cues from positive global cues.

The S&P BSE Sensex rallied 465.86 points or 1.29% to close at 36,487.28, while the Nifty50 surged 156.30 points or 1.47% to end the day at 10,763.65. Both these indices have seen a rise of about 4.50% in four trading sessions.

Meanwhile, the sentiments of investors strengthened after the media reported that India and China have begun a disengagement from the face-off sites in the Galwan Valley and Gogra-Hot Springs areas of eastern Ladakh.

In the broader market, the BSE Mid-Cap index rose 1.27%, while the BSE Small-Cap index gained 1.30%.

The market breadth was strong. On the BSE, 1,634 shares rose, while 1,157 shares fell. On the BSE a total of 189 shares remained unchanged.

#My recently recommend MBL Infrastructure Ltd hit another buyer freeze yesterday at Rs.6.40. Keep adding on declines and see if it is able to cross the resistance zone of Rs.7/7.50 or not. 

#The shares of Spandana Sphoorty Financial Ltd (Rs.561) consolidating around Rs. 550/577. Accumulate on every dip. 

#The scrip of Gujarat Narmada Valley Fertilizers & Chemicals Ltd (Rs.158.15) yesterday made a high of Rs. 160.40, almost touching the 1st target of Rs.161. This is an excellent company, in the fertiliser space. The long term investors should accumulate, with a trailing SL of 5/10%, depending on the risk appetite.

#The stock of Reliance Infrastructure Ltd (Rs.38.50) and Reliance Capital Ltd (Rs.12.65) tanked (hit lower circuits) after my sell call on the ADA group companies.

#Buy the shares of Panacea Biotech Ltd at around the CMP of Rs.196.40, for short term of Rs.239/241. SL: Rs.179.
In June,  this year there were media reports that ndia-based Panacea Biotec has partnered with Refana USA for the development, manufacturing and distribution of a Covid-19 vaccine candidate worldwide. The report further added that the aim will be to manufacture more than 500 million doses of the Covid-19 vaccine candidate, with more than 40 million doses, and is expected to be available early next year.