DSIJ Mindshare

Currently, India imports over 60 per cent of its APIs consumption from China and other countries, which opens up significant opportunities for Indian API manufacturers like Aarti Drugs. The company has geared up its API production by nearly 44 per cent to 25,591 MT in FY20.

All-in-all, Bank Nifty at present, is trading in the range of 22,500-20,900. A move above or below this level, could give the traders an opportunity to take a directional bet or else, buy on support and sell on the resistance is the best strategy for traders in this environment.

With the sideways price action, Bollinger Band has narrowed substantially and the stock is likely to give a consolidation breakout in the coming days.

Indian frontline equity indices ended the last week with a considerable gain. It helped equity bellwether index like Sensex and Nifty to close above their important psychological level of 36,000 and 10,600. This gain was achieved on the back of the positive global cues.

In the coming trading session, important support is placed at 10,562 and resistance will be seen around 10,631, followed by 10,751. Stocks in news: HDFC Bank, Astrazeneca, IFB Agro Industries, NLC India.