Morning Market View:

Nifty have given some respite in the last sessions and is now trading around 23400 mark which is the near-term resistance on the daily charts. The immediate support for the index is now placed around 23100-23150 on the lower side while 23600 will be the next major hurdle for short term period. Bank Nifty have been in pressure and is looking extremely volatile in the last few days and is currently hovering around 54400 mark on the daily charts. The overall trend of the index seems to be bearish and sell rise on rise strategy should be adopted by the traders till it is not closing above 55000 on the short-term basis. Stocks in News:

: has entered into a binding long-term Supply and Purchase Agreement (SPA) with Samsung C&T Corporation. (Impact: Positive) : entered into a Memorandum of Understanding (MoU) with NMDC to explore opportunities for collaboration in the rare earth elements (REE) sector. (Impact: Positive) has received an order worth Rs 709.56 crore from Adani Infrastructure Management Services. (Impact: Positive) NOCIL: Board has approved capital expenditure of approximately Rs 130 crore towards capacity expansion. (Impact: Positive)