Adani Group announced a strategic collaboration with Italy-based Snam, Europe’s leading gas infrastructure company, on Friday.

On Monday, the bull’s buying spree is showing no signs of abating as the early trends in SGX Nifty suggest that Nifty may open around its all-time high as it is trading up by 1.30 per cent at 12,424.50 levels. Certainly with the festive season i.e. Diwali being around the corner, the bulls are beaming with joy & celebrating with fireworks.

So, all the factors like the flag measure move target, all-time high levels, and the move away from its 20-DMA are indicating that we might move a per cent or two from here on, and then, we may consolidate. Interestingly, after trading above the long-term moving average i.e. 200-DMA for 79 days, the long-term moving average finally turned up, which is a positive sign. Further, Nifty outperformed Dow as Dollar has weakened. 

Multi-cap investors heaved a sigh of relief after SEBI introduced the Flexi-cap category in mutual funds. Read on to find out more.

On Friday, PNC Infratech Limited announced that its joint venture with SPML Infra Limited has been declared as the L1 (lowest) bidder for rural water supply projects in 979 villages in the Devipatan division of Uttar Pradesh.

SEBI has raised the overseas investment limit per fund house. Read on to find out more.

On Friday, Sensex jumped by 552.90 points or 1.34 per cent to settle at 41,893.06 levels while Nifty gained by 143.25 points or 1.18 per cent to close at 12,263.55 levels.

Interestingly, the daily RSI has given a breakout of the downward sloping trendline and it is in a rising trajectory, which is a bullish sign. The daily and the weekly stochastic oscillator is suggesting some bullish strength as well since per cent K is above the per cent D.

Considering the daily timeframe, the stock of Marico Limited has given a downward sloping trendline breakout, formed by connecting swing highs since September 2020. This breakout is confirmed by the above 50-day average volume.

The MoU would help to create a market for pre-engineered steel buildings made from structural steel tubes, which is consistent with APL’s strategy to create new markets for structural steel tubes in India.