Here we will cover the technical analysis of nifty, support and resistance.
Nifty has strong support at 15800, 16200 and 16450.
On the upside 16800 is resistance and then at 17400.
Today’s market was flat but the overall outlook looks a little positive for now.
Daily Update.
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LIC reported a huge profit jump in Q3 profit at Rs. 235Cr. compared to 0.91 cr a year earlier. LIC IPO is going to come soon, so investing in LIC can be a good idea.
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Drone Industry- The government is trying to boost domestic drone production. So, recently Government has launched a PLI scheme (Production linked incentive) to motivate domestic production.
The expected industry size by the year 2026 is Rs. 15,000 Cr.
The government has also banned drones imported with some exceptions to boost the industry and the ‘Make in India’ initiative. -
Automobile Industry- Auto industry saw a fall of 23% volumes sales in Feb 2022 compared to Feb 2021. 2 major reasons can be listed for the decline in sales volume and those are- a. Increase in price due to metal price inflation and Government regulations toward the safety features.
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Fertilizer Industry- The government in try to reduce dependency on Fertilizer imports due to various risk factors involved in importing like currency fluctuation, price fluctuation and tension between countries.
The government is trying to increase Urea production in India, so fertilizer companies can see a positive business environment in the near future.
Stockoholic- Ketan Agarwal
Dt- 11-03-2022
