Traders should keep an eye on the crucial levels of 11,550-11,560 and a failure to sustain above this level or rejection around this level could offer the best risk-reward short trade for the day traders. On sustaining above this zone, we would advise the traders to put on their bullish cap and stay long. 

The Indian markets are likely to carry a positive baton from the previous trading sessions.  Nifty, which closed above the 11,500 mark, will now aim for the next important psychological level of 11,600, and helping the cause is the positive global cues.

For the quarter ending June 30, the company secured orders amounting to Rs 2,592 crore and its order book stood at Rs 27,916 crore at the end of the first quarter. 

The consolidated net profit in Q1FY21 came in at Rs 11.75 crore, which declined by 57.1 per cent, as compared to Q4FY20, when it reported a profit of Rs 27.39 crore.

In addition to this, due to the challenges and restrictions, its important customer segment that is ‘hotel, restaurant, and catering’ (HoReCa) segment also faced several challenges during the first quarter.

The consolidated net sales reported in Q1FY21 came in at Rs 104.05 crore, which declined by 88.45 per cent YoY from Rs 900.94 crore in Q1FY20. 

The company reported consolidated net sales of Rs 388.41 crore in Q1FY21, which declined by 59.08 per cent YoY from Rs 949.11 crore in Q1FY20.

On Wednesday, Sensex gained by 185.23 points or by 0.48 per cent to close at 39,086.03 while Nifty rose by 64.75 points or 0.56 per cent to settle at 11,535.

Shares of the companies belonging to Adani Group have been buzzing recently. The shares of Adani Green Energy advanced by 10 per cent on Wednesday and locked in at an upper circuit of Rs 546 as the company informed that it has been ranked as the largest solar power generation company in the world by Mercom Capital.

It noted that the tariff hikes have led to the restoration of pricing power to the telcos and aided improvement in the operating metrics of the industry with growth in revenues and profit margins.