Equity Tips, Sensex Nifty Updates, Stocks News

INDORE, India - March 20, 2017 - PRLog -- Sensex, Nifty open lower on profit booking; Idea jumps 15% on Vodafone merger

Equity benchmarks opened lower on profit booking Monday after a 2.5 percent rally seen last week. Idea Cellular rallied nearly 15 percent in early trade following announcement of its merger with Vodafone India.

The 30-share BSE Sensex was down 98.36 points at 29,550.63 and the 50-share NSE Nifty fell 23.95 points to 9,136.10. About 759 shares advanced against 438 declining shares on the BSE.

MARKET TREND:- POSITIVE,

NIFTY FUTURE –

RESISTANCE 1 - 9200.00,

RESISTANCE 2 - 9229.00,

SUPPORT 1 - 9153.00,

SUPPORT 2 - 9135.00.

BANK NIFTY FUTURE –

RESISTANCE 1 - 21544.00,

RESISTANCE 2 - 21855.00,

SUPPORT 1 - 21056.00,

SUPPORT 2 - 20879.00.

OPENING BELL

SENSEX UP + 6.90 @ 29653.54

NIFTY FUTURE DOWN -8.00 @ 9164.95,

BANK NIFTY FUTURE DOWN -28.00 @ 21206.20.

USD/INR –65.50.

The Indian rupee opened with a marginal gain of 6 paise at 65.40 per dollar today against Friday's close of 65.46.

Indian rupee opens higher at 65.40 per dollar

The rupee will trade with a positive bias on the back of positive cues from the equity market and strong FII inflow. The trading range for the USD-INR pair is seen between 65.20-65.80/dollar.

BUY BAJ FINANCE 1150 CALL

ABOVE 23.00

Target1-26.00

Target2-32.00

StopLoss-18.50.

Equity Tips, Idea Cellular announces merger with Vodafone

Reliance Jio Effect? Idea Cellular announces merger with Vodafone

Equity Tips (https://www.tradeindiaresearch.com/) BUY AXIS BANK 510 PUT

ABOVE 10.00

Target1-11.25

Target2-13.35

StopLoss-7.65.

Idea Cellular on Monday announced that its board has approved the merger of Vodafone India and its wholly-owned subsidiary Vodafone Mobile Services Limited with itself in the process creating the country's largest telecom entity.

Vodafone will hold 45 percent in the combined entity. Idea promoters will hold a 26 percent in the combined entity. AB Group will have the right to buy 9.5 percent stake in the entity at Rs 130 per share.

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