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Market update for 20th march 2017

Nifty has opened on a flat note and 9220 will act as a near resistance. Although market is in a strong bull run,for intraday trader only short selling is advisable. Traders with long position with short term view should book profit and wait for a dip to happen. Long term trader  should continue their position. Support for nifty is placed at 9120.
Stocks in news:
Indiabulls Real Estate: To issue debentures via private placement method for a tenor of 13 months on March 22, 2017.

NTPC: State-run power producer NTPC said it has commissioned the second unit of 660MW of Mouda Super Thermal Power Station Stage- II.

Idea: Board members had approved merger with vodaphone.

Welspun India: Home textile player, Welspun India has started its Rs 150 crore Needle Entangled Advance Textile Plant for its technical textiles business at Anjar in Kutch.

IT stocks: Key IT stocks will in focus after media reports suggested that Cognizant may cut at least 6,000 jobs, which represents 2.3% of its total workforce, as it struggles with growth in an IT environment that is fast shifting towards new digital services. The layoffs are likely to be more this year than the routine annual exercise.


CL education IPO is going to hit the market today in a range of Rs 500-502.The valuation of IPO is high with many of analyst view.

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