Stocks Market Corner

Stocks Corner

  1. Pharma major Lupin announced that it has received approval for its Tadalafil Tablets USP, 2.5 mg, 5 mg, 10 mg, and 20 mg, from the United States Food and Drug Administration (FDA) to market a generic version of Eli Lilly and Company’s Cialis Tablets, 2.5 mg, 5 mg, 10 mg, and 20 mg.

    stock market corner
    stock corner
  2. Vedanta has notified the Management Committee, Directorate General of Hydrocarbons and Ministry of Petroleum and Natural Gas of an oil discovery in the second exploratory well H2, located in the block KG-OSN-2009/3, Krishna-Godavari Basin, East Coast of India.
  3. Maruti Suzuki board approved reappointment of Kenichi Ayukawa as managing director and CEO of the company for a period of 3 years w.e.f. April 1, 2019.
  4. Strides Pharma Science has received USFDA approval for its greenfield oral dosage facility in Singapore.
  5. Shares of UCO Bank gained 5 percent intraday on March 27 after a report said that the special payment mechanism for importing crude oil from Iran granted the state-run bank Rs 13,000-14,000 crore windfall.
  6. Cadila Healthcare received 1 observation from USFDA, USFDA conducted a Pre-Approval Inspection (PAI) for Doxorubicin Liposomal, a complex oncological injectable at Alidac Pharmaceuticals Ltd., the injectable onco manufacturing facility, located at Pharmez, Ahmedabad from 18th to 26th March, 2019. The inspection concluded with one observation.

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Bank Nifty Outlook

Bank Nifty index managed to hold above 27300 zones for the entire day and formed a small Bullish Candle on a daily scale. As it sustain above 20 DMA buying would be expected in coming session. One can buy on dips.

Daily Chart:

chart

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Bank Nifty Weekly View

Nifty Bank closed just above its trend line support, breakouts could be seen. Bank Nifty also closed below 20 DMA while if not able to sustain below trend line than pull back can be seen in coming session.

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Bank Nifty Weekly View

Nifty Bank settled marginally lower on Friday weighed by PSU Bank such as Bank India tanks more than by 3 percent followed by Syndicate bank, Bank Baroda, Orient Bank etc. For now 27450 will act as an important support while on higher side 27785-27790 seen resistance.

bank nifty outlook - starindia market research

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