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Share Market Closing Note

22. February 2021 Sandeep Stock Market Research (0)

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Benchmark indices ended lower for the fifth straight session on February 22 with Sensex breaching 50,000 mark and Nifty also settle below 14,700 level.

At close, the Sensex was down 1,145.44 points or 2.25% at 49,744.32, and the Nifty was down 306.10 points or 2.04% at 14,675.70. About 1030 shares have advanced, 1942 shares declined, and 151 shares are unchanged.

Tech Mahindra, M&M, Dr Reddys Labs, ITC and IndusInd Bank were major losers on the Nifty, while gainers included Adani Ports, JSW Steel, Hindalco Industries, Tata Steel and ONGC.

Except metal (up 1.6 percent), all other sectoral indices ended in the red. Also, both BSE Midcap and Smallcap indices shed over a percent.

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Topic :- Time:2.30 PM

COPPER Trading View:

COPPER is trading at 689.40.If it manages to trade and sustain above 690.50 level then expect some upmove and if it breaks and trade below 686 level then some decline can further follow in it.

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Topic :- Time:2.00 PM

Nifty is declining further. Nifty spot if breaks and trade below 14700 level then expect some further fall in the market and if it manages to trade and sustain above 14740 level then some pull back can be seen. All highs should be used as an opportunity to exit long positions.

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Topic :- Time:1.45 PM

Just In:

Nepal gets 1 million doses of COVID-19 vaccine bought from India.

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Topic :- Time:1.00 PM

Nifty is falling. Nifty spot if breaks and trade below 14740 level then expect some further fall in the market and if it manages to trade and sustain above 14780 level then some pull back can be seen in the Nifty. As market is highly volatile so traders are advised to trade in small quantity.--------------------------------------------------------------------------------------------

Topic :- Time:12.30 PM

GOLD Trading View:

GOLD is trading at 46498.If it manages to trade and sustain above 46540 level then expect some upmove and if it breaks and trade below 46420 level then some decline can be seen in the Gold.

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Topic :- Time:12.00 PM

Nifty is turning volatile now. Nifty spot if breaks and trade below 14800 level then expect some further decline in the market and if it manages to trade and sustain above 14840 level then some upmove can follow in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. RIL, HDFC drag indices; Sensex dips 600 pts, Nifty tests 14,800

2. Tatas outdo Sensex under Chandrasekaran, but more dependent on TCS

3. RBI scoops up Rs 26,000-crore bonds anonymously in a single day

4. $1.2-bn arbitration award: Cairn, govt discuss long-term capital gains tax

5. Jubilant Foods hits 52-wk high on Fides Food deal; analysts give thumbs up

6. Thomas Cook extends gains to 3rd day, jumps 6% on plans to raise Rs 450 cr

7. NTPC snaps 4-day winning streak, declines 3% on profit-taking

8. Metal stocks shine in a weak mkt; Hindustan Copper, Hindalco jump up to 17%

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Topic :- Time:11.00 AM

After flat opening nifty is now trading in negative zone. Nifty spot if breaks and trade below 147800 level then expect some further decline in the market and above 14860 level some upmove can follow in the market.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For

22 Feb,2021:

Nifty to turn volatile as the day progresses. Global cues to act as trend decider.

Nifty spot if manages to trade and sustain above 15020 level then expect some upmove and if it breaks and trade below 14960 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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Rahul Gandhi hits out at Modi govt over rising fuel prices

22. February 2021 Sandeep Stock Market Research (0)

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The Congress has accused the Centre of looting people by imposing high taxes on petrol and diesel and has demanded its rollback to provide relief to the common man from the onslaught of rising prices.

Rahul Gandhi

Hitting out at the Modi government over rising fuel prices, Congress leader Rahul Gandhi on Monday accused it of emptying the pockets of the common man and filling the pockets of its friends for free.

The Congress has accused the Centre of looting people by imposing high taxes on petrol and diesel and has demanded its rollback to provide relief to the common man from the onslaught of rising prices.

"When you see the fast moving meter while filling fuel in your car at the petrol pump, do remember that the crude oil rates have not risen but fallen," he said in a tweet in Hindi.

"Petrol is at Rs 100 a litre. The Modi government is doing the great work of emptying your pockets and filling the pockets of its friends," the Congress leader tweeted.Gandhi also used the hashtag "FuelLootByBJP" in his tweet.

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Nifty Opening Note

22. February 2021 Sandeep (0)

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Indian Stock Market Trading View For

22 Feb,2021:

Nifty to turn volatile as the day progresses. Global cues to act as trend decider.

Nifty spot if manages to trade and sustain above 15020 level then expect some up-move and if it breaks and trade below 14960 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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CAIT writes to PM Modi about GST issues, alleged violation of e-commerce rules by e-tailers

22. February 2021 Sandeep Stock Market Research (0)

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In its letter to the prime minister, the Confederation of All India Traders (CAIT) called for setting up of a "special working group" at the central level comprising senior officials, CAIT representatives and independent tax experts to review the GST structure and make recommendations to the government.

PM Narendra Modi (Image: PTI)

Ahead of its ''Bharat Bandh'' call on February 26, traders' body CAIT on Sunday wrote to Prime Minister Narendra Modi raising issues related to the GST regime, and alleging violation of e-commerce rules by major e-tailers.

In its letter to the prime minister, the Confederation of All India Traders (CAIT) called for setting up of a "special working group" at the central level comprising senior officials, CAIT representatives and independent tax experts to review the GST structure and make recommendations to the government.

It also suggested that a "District GST working Group" may be constituted in each district to monitor smooth GST implementation and to take steps for widening of tax base and augmentation of revenue.

In the letter, CAIT said that a few recent amendments in GST have given "arbitrary and unfettered powers" to the government officials.

It said this goes much against the PM''s mission for ''minimum government, maximum governance'', and these amendments have created a state of ''tax terrorism'' in the country.

The principle of natural justice has been greatly violated through such amendments where the traders have been denied any sort of show-cause notice or opportunity of hearing before taking any penal action," the traders'' body said in the letter to PM.

It alleged that the domestic e-commerce landscape has been greatly vitiated by some major e-commerce companies "who are continuously and openly violating the FDI policy, law and rules without any fear of law". They are indulging in predatory pricing, deep discounting, loss funding, controlling inventory and sale of branded products, CAIT alleged.

"These e-commerce companies have found various escape routes in Press Note No.2 of the FDI policy and therefore, a fresh Press Note blocking all escape routes and abolishing all such provisions that may prompt these companies to violate the rules or policies should be prepared," CAIT said.It also called for setting up of a regulatory authority for the e-commerce sector. Such authority should be empowered with due rights to take any penal action against those who violate the law or policy, the traders'' body said.

Besides, it suggested that a robust e-commerce policy should be formulated and released in a time-bound manner prescribing defined parameters for e-commerce business in the country.

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