Nifty have remained sideways to bearish in the last session all thanks to the ongoing war in the middle east and dampening global sentiments. The mood on the street is looking cautious with good buying action seen in the lower levels. The support for the index is around 24300-24400 on the lower side while 24800-24900 is the hurdle for the short-term traders. Banking Index is now showing first signs of some buying in the lower zones and may remain volatile in the near term period. Short term traders should keep 58300 (spot) as stop loss for all the long contracts and may hold long positions till it is not breaching the support zones for the day. Stocks in News:

BSE

: exchange has received approval from the Securities and Exchange Board of India (SEBI) to launch derivative contracts on the BSE Sensex Next 30 index. (Impact: Positive)

GUJENERGY

impacting the gas supply scenario, the availability of R-LNG has become severely constrained. (Impact: Negative) RAMKY: entered into an agreement with Maharashtra Industrial Township (MITL) for EPC-based infrastructure works (Impact: Positive)

GESHIP

: company has contracted to acquire a second-hand Kamsarmax dry bulk carrier of approximately 81,094 dwt (Impact: Positive)

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