The company will begin phase 3 clinical trial in around 30,000 volunteers. The launch of phase 3 will help to determine the effectiveness of the vaccine in preventing COVID-19. 

The weak dollar index has led to strong FII flows in the emerging markets, particularly in India. Indian equity markets have witnessed an inflow of over Rs 1,28,000 crore in the last few months with record inflow seen in the month of November 2020.

The derivatives data is also suggesting a long build-up in the stock. On Friday, January series PNB stock future saw 5,80,64,000 addition of open interest, which is 169.34 per cent addition in the open interest. It indicates that there is a long build-up in the market.

The open interest data is also supporting the same phenomenon. As for January monthly expire, the highest call open interest is at 75 strikes with 70,87,000 OI, followed by the 77 strikes call option with 24,32,000 OI. This suggests that the zone of Rs 75-Rs 77 will be a major hurdle for the stock.

Interestingly, the leading indicator i.e. the 14-period weekly RSI has surged above the 60 mark for the first time since June 2018. The weekly RSI is currently quoting at 62.21 and it is in a rising mode.

Compucom Software: The company has received a letter of acceptance (LoA) for providing satellite educational service as per government syllabus as well as the supply of related items in 303 government schools for an integrated scheme for computer education and information & communication technology at schools (phase-V) on BOOT basis from RCSE worth Rs 10.79 crore (approx.) over 27 months.

The 5-EMA that is placed at 13,934 is an important support level, followed by the zone of 13,771-13,811, which is likely to act as the next support level. On the upside, the level of 14,100, followed by 14,220, is likely to act as a resistance level.

Interestingly, on both the weekly and the daily chart, the leading indicator is in a super bullish range as per the RSI range shift rules. The daily MACD stays bullish as it is trading above its zero line and signal line. The histogram is suggesting a pickup in the upside momentum.

L&T informed that the metallurgical & material handling (MMH) business of its construction arm has secured EPC orders of coal processing plants in the domestic market. The order win also includes a prestigious engineering & procurement project for a metallurgical plant overseas. The announcement was made on Friday in the second half of the trading session.

The market opened in green on January 01, 2021.