Following are the stocks where profit booking is seen taking place in the F&O segment.

Market is currently trading in favour of advances with the advance to decline ratio standing as 346:53. 

Anupam Rasayan India Ltd, one of India’s leading custom synthesis and speciality chemical players on Tuesday announced that its Board of Directors has approved the acquisition of 24.96 per cent of the total equity shareholding of and joint control of Tanfac Industries Limited from Birla Group Holdings Private Limited (a promoter company which is part of Aditya Birla Group) and few other promoter group of TIL and the launching of an open offer under the Securities Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011 to acquire a further 26 per cent shareholding from the public shareholders of TIL.

However, when subjected to pattern analysis, it is seen breaking out from a falling trend line resistance which is bullish. The OBV (On Balance Volume) is already at a high before the actual price breakout.

In an attempt to dissuade transactions in virtual digital assets, any income from the transfer of such assets will be taxed at 30 per cent. Further, no deduction on account of expense incurred nor any set-off of loss is allowed to be reduced from the gain arising from the transfer.  

The core equity indices, i.e., Sensex and Nifty ended on a higher note on Budget Day.  

Sensex went up by 848.40 points or 1.46 per cent. The top five gainers from the pack were Tata Steel, Sun Pharmaceuticals, IndusInd Bank, Larsen & Toubro, and UltraTech Cement. Meanwhile, on the flip side, the top losers included Mahindra & Mahindra, Power Grid Corporation of India, SBI, Bharti Airtel, and NTPC.  

The use of Kisan drones for crop assessments, land records, spraying of insecticides is expected to drive a wave of technology in the Agri & farming sector, FM announced. 

Nifty IT has gained momentum with a few announcements for the technology sector in today’s Budget announcement. At the time of the closing bell, IT stocks such as HCL, Infosys, and Tech Mahindra climbed 3 per cent, 2.1 per cent & 1.8 per cent, respectively.

Activity in the F&O market for the weekly expiry on 03-Feb-2022, shows 18000 to act as strong resistance now. 

Robust performance continues, led by good demand in domestic and export markets. Performance in terms of volumes, sales, and profitability was driven by a mix of improved product mix and price realization.