GAIL scouts for LNG sources, plans to grow long-term volumes by 50%
International LNG prices have fallen sharply from their highs in 2022 but are “still unaffordable for many customers in India, especially power plants,” said GAIL chairman and managing director Sandeep Kumar Gupta, adding that the domestic demand will pick up once prices drop further.
Coal ministry to draw scheme for coal gasification projects worth Rs 6,000 cr
India's Coal Ministry plans to allocate INR 6,000 crore ($810.5m) and draw up a comprehensive programme to promote coal gasification projects to reduce the country's reliance on natural gas, methanol, ammonia and other imports. The scheme, which has a target of achieving coal gasification of 100 million tonnes of coal by 2030, is divided into three segments that provide budgetary support to government and private entities.
GIFT Nifty down 60 points; here's what changed for market while you were sleeping
"Overall, we expect sectoral rotation in the market, while the Index is likely to remain in the consolidation zone with the ongoing result season," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Indian equities hit new record highs for the fourth consecutive session due to foreign fund inflows and optimistic investor sentiments. However, broader markets took a break, whilst auto and realty, private bank, and oil and gas sectors finished in the red. Nifty gained 66 points and stood at 19,389 points at the end of the day. Analysts have warned of a potential downturn, as the Nifty ended its session with a “Hanging Man” candlestick pattern and hinted at a short-term reversal if the low of the candle was breached.
Stocks on the rise! Adani Green Energy, Marico and 7 others cross 50-day SMA
Several stocks including Gujarat State Fertilizers & Chemicals, Marico, and GAIL (India) showcased significant progress by crossing their 50-day Simple Moving Average (SMA) on July 5, 2023, indicating positive trend reversals. Other standout performers were Godfrey Phillips India, Indraprastha Gas, Triveni Engineering & Industries, NMDC, Deepak Fertilisers & Petrochemicals Corporation, and Adani Green Energy.
Today we saw a New weekly high but as we can see on the charts R 1 and R2 are near the same 114 levels. (looks like double top but the week is not over hence cannot confirm so early)
Massive profit booking between 113 to 114 levels which dragged the prices dow......read more
R = resistance since a long time (hence 109 to 111 levels)
S = Support increase month on month (hence 89 to 92 levels)
We can expect a breakout only if the stock closes above 111 levels and holds for 1-week minimum. This will ensure any false breakouts are eli......read more