Morning Market View:

Nifty will be exhibiting its initial reaction on the failure of the initial talks between Iran and US in Islamabad today. The rise in the crude oil prices followed by sell off in the global futures will be keep in the markets under check on the higher side. The technical support for the index is looking good with key support placed for the index 23700-23800 round the resistance is round 24300 on the higher side. The overall trend of the index is Buy on dips for the near term till the index is holding above 23500 on closing basis. Bank Nifty have given good bounce in the recent past above 55500 on the daily charts. The overall trend of the index is good with some correction expected today after the recent brutal strong up move on the daily charts. The sentiment on the street will remain cautious to bullish with support for the index placed around 54800-55000 while 56300 remains resistance for the day. Buzzing Stocks on the Street today:

: Co-founder Lakshmi Nandan Reddy Obul has resigned as Whole-Time Director (Impact: Negative) : company has launched Dapagliflozin tablets (5 mg and 10 mg) in the United States. (Impact: Positive) : US FDA has concluded its inspection at the company’s oncology facility in Bileshwarpura with zero observations. (Impact: Positive) EIEL: company has received two projects worth Rs 972.2 crore from the Swachh Maharashtra Mission Directorate. (Impact: Positive)