DSIJ Mindshare

The upside target for Nifty, based on the Fibonacci price extension, is around 12,854 in the near term. On the downside, Monday’s gap area (12,280-12,367) is likely to act as immediate support. Be with a bullish bias as long as Nifty maintains its rhythm of higher high and higher lows.

After a stellar rally on Monday, the markets are expected to build on gains today as the global markets traded higher, owing to vaccine development as well as US election clarity.

Dr Lal PathLabs announced its financial results for quarter ending September 2020 today. Non-COVID business was back to 98 per cent of last year levels in Q2FY21. Revenue increased in Q2FY21 by 18.2 per cent to Rs 431.9 crore from Rs 365 crore last year during the same quarter.

Cigniti Technologies, a global leader in independent quality engineering & software testing services, announced on Monday that it has now become a strategic quality engineering panel vendor for Toyota Motor Corporation Australia (TMCA). It would help accelerate its quality & digital transformation journey over the next 3 years.

The stock of Motherson Sumi Systems Limited has given a downward sloping trendline breakout, formed by connecting swing highs since August 2020. This breakout is confirmed by the above 50-day average volume.