Sensex Hits Record High Level Tracking Positive Global Cues

The benchmark index, Nifty and Sensex are witnessing a profit booking from the higher levels of the day. Meanwhile, the Sensex hit its all-time high level of 33,959.46 in today’s session led by gains from IT and Banking stocks. The Nifty, however, faced stiff resistance at the 10490 level and failed to cross over.

Profit booking is witnessed in stocks of Mahindra and Mahindra, Ultratech, Lupin, Dr Reddy’s, Hero Moto Corp. Eclerx rises 5 percent post board approval to buyback 12.9 lakh shares at Rs 2000. Adani Transmission and Adani Power are both trading higher by over 5 percent post the deal to buy assets of Reliance Infra. Hero Moto Corp has announced a hike in the price of motorcycles from January, the stock is trading 0.6 percent lower at Rs 3783.

India VIX is down by 3.73 percent and NSE Advance-Decline ratio is at 961 advances against 729 declines.

At 3 PM, Nifty is trading 0.38 percent higher at 10479 level and Sensex is at 33921 level, up by 165 points.

 

View Full Artcile With Comments

Market Update: Nifty and Sensex Rallies, Auto and Financials Leads the Gains

Both Nifty and Sensex are trading with steady gains of 0.40 percent and 0.51 percent respectively with Auto, Financials and Realty leading the gains. Heavyweight stocks like Reliance Industries, TCS, SBI, ONGC, Maruti are leading the gains in the Nifty.

All Reliance ADAG stocks except RCOM are trading in green zone after Reliance Energy finalised a deal to sell off its asset to Adani Transmission to pare debt and Reliance Power approaching Delhi HC for early allocation on coal block to its power plant in Maharastra. The stock of Adani Transmission is trading 7.42 percent higher at Rs 242.60 and Reliance Power is trading 1 percent higher at Rs 40.70.

Hero Motocorp share trading with mixed sentiments after launch of three new models.

The stock of NHPC is trading close to 2 percent higher at Rs 30.05 after the company amended Memorandum of Association (MoA) to enable it to apply to power regulator CERC for the trading licence.

The Advance Decline ratio of NSE is 1177 advances against 450 declines and 367 unchanged. India VIX has softened by close to 3 percent and is at 11.78 level. The Nifty is finding enough support at 10450 level and 10490 will be difficult for the market to cross.

View Full Artcile With Comments

Pre-Open Market Moves: 22nd December

The domestic equity market is expected to open flat in line with its Asian peers. The SGX Nifty is trading at 10461.50 level, up by 7 points. In yesterday’s session, Nifty hovered around the 10440-10450 level throughout the day indicating of a strong support around the area.

The support for Nifty is at 10400-10390 level with resistance at 10490-10510 level. For Bank Nifty, support is at 25500 level and resistance at 25720 level. India VIX has been stable all through the yesterday’s session and is at 12.08 level.

Stocks which will be in focus are RCOM, Reliance Power, NHPC, HDFC Bank, HeroMoto Corp, Motherson Sumi, Can Fin Homes, Mannapuram.

The market is expected to remain quiet in today’s session refraining from any big momentum before the market closes for an extended weekend on account of 25th December on Monday.

View Full Artcile With Comments

Market Update: Nifty holding on to 10450 level, Auto Sector Leads and PSU Bank Stocks Under Pressure

The Nifty and Sensex hit the lifetime high levels at the pre-open session and rose up to 10,494 level and 33,883 level respectively. The Nifty is facing significant resistance to cross above the 10490 level and is trading lower. The Nifty is successfully holding above 10450 level. Weak signals from global market also pulling the market down.

The Volatility index has eased by 1 percent and is at 12.06 level and Advance Decline ratio is at 1121 advances against 492 declines and 374 unchanged. The 10400 put is the most active in option chain in respect of addition of OI.

The PSU Bank, FMCG, Metal and Pharma are the top losers in today’s market with Auto, Oil, IT, Media stocks leading the gains. In PSU Bank index, PNB is the top loser and is trading 4.7 percent lower at Rs 170.90. ONGC, Tata Motors, HeroMoto Corp, Lupin, Gail are top gainers in today’s session.

At 11:44 AM, Nifty is trading 16 points higher at 10479 level and Sensex is at 54 points higher at 33,890 level.

View Full Artcile With Comments

Pre-Open Market Moves: 20th December

The Indian domestic equity market is likely to witness a negative opening in line with its Asian peers. The Nifty futures in Singapore exchange is trading 0.23 percent lower at 10445 level. Other major Asian markets are trading on a mixed note with Nikkei 225 trading flat with loss of 0.06 percent, Hang Seng is up by 0.11 percent, Taiwan Capitalization Weighted Stock Index is up by 0.3 percent and Singapore Exchange Limited is flat. 

The immediate support for Nifty is at 10420 and then at 10370 level with upside resistance at 10490 level where we can witness some profit booking. For Bank Nifty, support is at 25600 and 25490 level with resistance at 25800 and 26000 level.

Stocks which will be in focus are HDFC Bank, HDFC, Tata Steel, ONGC, Jain Irrigation, Indian Bank, DHFL.

 

View Full Artcile With Comments

E.O.D Market Synopsis: 18th December

The market was full of up and down in today’s session but managed to close high at the end of the day. Both Nifty and Sensex closed 0.54 percent and 0.41 percent higher respectively. The Nifty closed at 10388 level after going intraday highs of 10440 level. The softening in the market in the last part of the session is due to the narrowing of winning margin of BJP in Gujarat state election.

The Nifty failed to close above the 10410 level which is a bit negative for the market and the short-term uptrend line is the resistive point for the index. The India VIX closed at 13.11 level down by 12.12 percent and the advance-decline ratio stood at 809 advances against 734 declines and 46 unchanged. At EoD, the 10600 call and 10300 put were most active in terms of change in OI.

RIL, SBIN, HDFC, VEDL Bank was the most active stock in terms of value. Top Nifty gainers are VEDL, Hindalco, M&M, Cipla, SunPharma and Top losers are TechM, Yes Bank, HCLTECH, UPL, Coal India.

The PSU bank stocks were most active as because of the first phase of capital infusion of tune to Rs 70000 crore is going to start soon.

View Full Artcile With Comments

Market Rallies on Favourable Gujarat Election Results

After initial market hiccups, both Nifty and Sensex has recovered and is trading at highs of the day with gains of over 0.8 percent in both Nifty and Sensex. The Nifty is trading at 10426 level and Sensex is trading at 33747 level.

With BJP winning both the state assembly elections, it is likely that the market will go past its earlier lifetime high level. The result gives the continuity in form of the reforms undertaken and next runup to 2019 general election.

The Volatility Index (INDIA VIX) has softened by over 12 percent and is at 13 level indicating a comfort in the market. The 10400 put option, 10500 and 10600 call option are the most active in today’s session indicating the range for the market in near future.

The PSU banks stocks are rallying as the parliament is going to pass on the bill for recapitalisation move and the first round of capital infusion is likely to take place soon. The CNX PSU Bank index is 3 percent higher with PNB, Bank of India, Bank of Baroda leading the chart.

Future Supply Chain makes a decent debut in the market with listing at 1.5 percent gains at Rs 674. The issue was subscribed 7.56 times.

View Full Artcile With Comments

Pre-Open Market Moves: 18th December

The market is likely to gap up at the open in today’s session around the 10400 level on the possibility of BJP winning both state elections. With this, the Nifty is likely to break above the declining channel partner. The SGX Nifty is trading 0.73 percent higher at 10438 level. The domestic factor will keep the market moving in today’s session outlining the global factors.

For Nifty, a close above the 10410 level will send this market to break above the 10490 level, which is its earlier higher point. The immediate resistance will be at 10408 level with support at 10280 level. For Bank Nifty, resistance will be at 25670 with support at 25400 level.

Stocks which will be in focus are Adani Enterprise, DRL, Aurobindo, Yes Bank, PNB, Bharti Airtel, Motherson Sumi.

View Full Artcile With Comments

Tyre Stocks Extends Gains on Falling Rubber Price

The tyre shares are rallying in today’s session on subdued global rubber prices. All tyre stocks are trading with gains of 3-10 percent. Market leader MRF is up by 2.77 percent, JK Tyres is up by 8.99 percent, Apollo Tyres is up by 5.11 percent, CEAT is up by 3.12 percent.

Softer rubber prices have helped companies to report better margins of up to 30 percent. The tyre company are indicating on passing on the benefits to the customers. This will marginally affect the margins of OEM.

View Full Artcile With Comments

Market Update: Indian Equity Market Shines Against Global Equity Market Trend

The domestic equity market has moved higher in today’s session as against the general global sentiment which is negative. The Nifty gapped higher at the open in today’s session above 10350 level. All Asian markets including Nikkei 225, Hang Seng (down by 1%), Taiwan Capital Index (down by 0.65%)and Singapore Exchange ( down by 0.53%) are trading with a negative bias.

The Nifty is facing strong resistance in the short term uptrend line and in the day ahead it is likely to fill the gap underneath and is likely to close near the 10300 level. The 50 DMA line will be the strong support line for the index. Alternatively, If the market is able to break above that uptrend line for some time, then it will move towards the 10400 level in today’s session. Overall, the market is likely to continue the general positive trend for next couple of session before making a corrective move.

The volatility index  (India VIX) has marked a huge decline of 12.5 percent and is at 14.35 level as against the 16.4 level in yesterdays close.

Factors which are pushing this market higher are the prediction of Exit Poll, Foreign buying, Appreciating Rupee.

At 10:55 AM, the Nifty is trading 87 points higher at 10339 level and Sensex is 258 points higher at 33505 level.

 

 

 

View Full Artcile With Comments

Pre-Open Market Moves: 15th December

The market is expected to witness a gap up in today’s session with Nifty and Sensex both are expected to open higher by 1 percent. The SGX Nifty is trading with gains of 0.77 percent or 80 points higher at 10368 level. The forecast of comfortable win of BJP in both state assembly election has cheered the investors. Asian indices including Nikkei 225 and Hang Seng, both are trading lower by close to 1 percent.

The immediate resistance for Nifty is at 10350 level and then at 10400 level eventually, with support at 10200-10180 level. For Bank Nifty, resistance will be at 25500 level with support at 24800 level.

The stocks which will be in focus in today’s session are IDBI Bank, M&M, Tata Motors, PNB, Union Bank, Lupin, L&T.

View Full Artcile With Comments

Nifty Breaks Below 10200 Level, Heavy Selling Pressure in PSU Banks Stocks

The key benchmark index Nifty broke the key support level at 10200-10190 level as heavy selling in PSU Banks. metals and infrastructure stocks. The Nifty is trading 0.6 percent or 61 points lower at 10168 level with over 100 points movement in the day. The India VIX is now at the high point of the day at 16.23 level, up by 6.33 percent indicating of extreme volatility.

The immediate support for the Nifty is at 10080 level with 10200 to be a resistance for the market. The Nifty is likely to bottom out around at 10000 level. The technical analysis of Nifty has given a similar picture of the today’s session.

Stocks which pulled the Nifty down are Vedanta, ICICI Bank, Tata Steel, Cipla, Adani Ports, SBIN. The NSE Advance-Decline ratio stands at 489 advances against 1194 declines with 306 unchanged.

View Full Artcile With Comments

Market Update: Market Reverse Losses But Still on the Weaker Side

The Nifty is trading above the crucial 10250 level with gains of 0.48 percent around 10290 level. The market is more likely to have a pullback prior to the close or at the start of tomorrow’s session. The volatility index (India VIX) during the day has surged over by 5 percent ans is currently up by 2.21 percent at 14.92 level.

The market will largely be impacted by the global factors in tomorrow’s session as US Federal Reserve announces it rate hike policy. A hawkish outlook will send the US Indices to record high level which can impact the Indian equity market for short-term. The outflow of funds to US market from Indian market by foreign investors could lead the market to correct a bit.

Today’s recovery in the market was supported by oil and gas shares, Auto, Banks and Pharma sector. Top gainers in Nifty are Kotak Bank, IOCL, BPCL, HPCL and Ultratech Cement. The NSE Advance-Decline ratio stands at 912 advances against 743 declines with 333 unchanged.

View Full Artcile With Comments

Pre-Open Market Moves: 13th December

The market is more likely to open negative in today’s session around the 10200 level. The Nifty futures in Singapore Exchange is trading marginally lower at 10248 level. The Asian markets are trading on a cautious note ahead of the outcome of the US Federal Reserve’s monetary policy meeting due later today.

The Indian domestic market is likely to remain under pressure during the day. The CPI Inflation has hit the 15 months high level of 4.88 percent in November and Industrial growth has declined to 2.2 percent during the October period. The Brent Crude touching the $65 level, a first since 2015 is also a negative sign for the economy which can affect the fiscal deficit situation of the economy.

The immediate support for Nifty is at 10200-10190 level and resistance is at 10320 level. For Bank Nifty, the support is at 25000-24800 level and resistance is at 25330-25450 level.

Stocks which will be in focus in today’s session are Bharti Airtel, Reliance, DLF, Yes Bank, Jubilant Foodworks.

View Full Artcile With Comments

Market Tense Ahead of Key Domestic and Global Events

The India VIX ( volatility index) which gauges the state of fear in the market has surged by almost close to 6 percent in today’s session. At 2:35 PM, the index is at 14.15 level (up by 3.5 percent) which is around the highest in the three months time frame. The state of unease in the market is mostly due to mixed predictions in the exit poll of Gujarat assembly elections. It will largely impact the market in the longer time frame which up to the 2019 general elections. The index could move 0.5 percent in either direction depending upon the result.

The global factor which is also keeping investors on their toes is the FOMC meeting outcome coming this Wednesday. Lots of speculation in the market is going in for the 25 basis points rate hike by Federal Reserve within this end of this year. The strong job data number will also support rate hike proposal. A rate hike could move the US indices to new highs of the year before the end of this year.

View Full Artcile With Comments

Maruti Suzuki Hits Fresh High After Upward Revision in Target Price by Morgan Stanley

The share of Maruti Suzuki has hit a new all-time high price of Rs 9167 in today’s session after global brokerage house Morgan Stanley raised the target price to Rs 10,563 from Rs 9102 previously. It has also retained the overweight call for the company. The Friday’s revision of target implies the 16.8 percent rise from the current level. It has maintained its forecast of 22 percent FY 18-20 EPS CAGR and in bull case, the brokerage house has set the target price of  Rs 14,400. Maruti Suzuki is the most profitable original equipment manufacturer (OEM) globally.

At 1:14 PM, the stock is trading 0.86 percent or Rs 77.75 higher at Rs 9120 level.

During the November period, the domestic passenger vehicle sales rose 14.29 percent to 2,75,417 units, according to data released by the Society of Indian Automobile Manufacturers (SIAM). The two-wheeler sales came in at 15,35,277 units which is 23.49 percent higher compared to the same period year ago. And, CV space recorded a magnificent 50.43 percent jump in sales during the November period. The BSE Auto index has recorded a gain of 0.59 percent

In another development, TATA Motors has announced to hike passenger vehicle prices by Rs 25000 across categories due to rise in input costs. Tata Motors has also surpassed Honda to be the fourth largest car manufacturer in the country. The stock of Tata Motors is trading flat at Rs 411.2.

 

View Full Artcile With Comments

Market Update: Nifty and Sensex Holds the Initial Gains

The Sensex and Nifty are successfully holding up the initial gains of the market with each trading close to 0.5 percent higher. For Nifty, the 10300 level has been the important level for the market and buyers are likely to take this market forward until 10400 level which is a bit resistive. In the option chain for Nifty, the 10400 CE  and 10200 PE are the most active, indicating the near term range of the market.

Stocks which are most active in today’s session are Unitech which is up by 15 percent after the government took the management control of the company as recommended by NCLT, UCAL Fuel got locked at 20 percent upper circuit on strong Q2 profit, ABB, EICHER Motors, SBIN, AXIS Bank, Bharti Airtel, ITC. Stocks which are losing in this market are Adani Port, Hindalco, Gail, NTPC, Infy, Asian Paints.

The India VIX has surged by 2.4 percent and is at 14.00 level indicating some amount of fear in the market. The NSE Advance-Decline ratio is at 1080 advances against 538 declines and 379 unchanged.

At 10:42 AM, Nifty is trading 0.4 percent higher at 10305 level and Sensex is at 33384 level, up by 0.4 percent. The market ahead for the day will be volatile and close near its opening level or around 10250 level.

View Full Artcile With Comments

Nifty Weekly Analysis for the Week of December 11

The Nifty index managed to turn around the basic negative pressure in the market in last four trading session with a closing above 10250 level which is a very positive sign for the traders. It experienced a strong support at the 10000 level from where it reversed its trend. On the weekly chart, it has formed a hammer like a candle indicating of upcoming bullish pressure in the market.

The 10400 level will be the strong resistance for Nifty with 10000 will act as a floor of this market. The RSI and stochastic are moving higher from the oversold territory indicating a bullish pressure in the market.

The week ahead will be a lot more volatile as the political pitch increases ahead of the last round of voting in poll-bound Gujarat and ahead of its result on December 18th. A majority to the current ruling government will likely to send this market above 10400 level and if it fails, the market will react violently. The other factor which will affect the market in this week’s session will be the Inflation data and Trade balance for November, Industrial Production data for October. Other major global factors which will affect the market will be the FOMC decision on rate hike coming from the US.

View Full Artcile With Comments

Pre-Open Market Moves: 11th December

The Indian equity market is expected to open higher in today’s session on the back of strong global cues. The Nifty50 index is likely to open near the 10300 level tracking the Nifty futures in Singapore stock exchange which is trading 0.3 percent higher. Asian majors like Nikkei 225 is trading marginally higher by 10 points, Hang Seng is up by 0.46 percent and Taiwan Capitalization Weighted Index is trading 0.93 percent higher.

The Nifty has resistance around at 10310 level and 10350 eventually with support at 10200 and 10170 level. The Bank Nifty is having resistance at around 25425 and 25500 level with support at 25250 and 25000 level.

Stocks which will be in focus in today’s session are Bank of Baroda, Axis Bank, ICICI Bank, Westlife Development and all shipping stocks.

View Full Artcile With Comments

Pre-Open Market Moves: 8th December

The market is likely to start with positive biases in today’s session tracking the global indices. The Nifty futures in Singapore stock exchange is trading marginally higher by 8.5 points at 10210 level. The Asian majors like Nikkei 225 is up by 1.22 percent, Hang Seng is up by 0.76 percent and Taiwan Capital Weighted Stock Index is marginally higher 0.097 percent.

The yesterday’s close of Nifty above the 10100 level is a positive indication for the market and the indication of bottom out of corrections in the market. The immediate support for Nifty is at 10100-10090 and resistance is at 10200 and 10250. For Bank Nifty, the support is at 24980 and 24800 and resistance at 25200 and 25350.

Stocks which will be in focus in today’s session are Jet Airways, Emami, Reliance Naval, ICICI Bank, HUL.

View Full Artcile With Comments

RBI Kept Rates Unchanged, Gives Hawkish View

In the 5th bi-monthly monetary policy meet of RBI, it has kept the rates unchanged. The repo rate is currently at 6 percent a and the given views are in similar to the predicted by the analyst. RBI has changed the inflation target in this policy meeting for the March 2018  to 4.7 percent from 4.3 percent.

RBI sees the rise of crude prices will impact the inflation situation and effect of GST will gradually affect the inflation to cool down a bit.

The market has dropped significantly after the policy announcement. Nifty has declined by 0.65 percent to 10038 level and by over 200 points and is below 25000 level.

View Full Artcile With Comments

Market Weak Ahead of RBI Monetary Policy

The Sensex and Nifty each dropped over 0.30 percent ahead of the RBI’s fifth bi-monthly policy decision. The market is expecting that RBI will hold the rates this time and will look towards the growth trajectory and inflation data for future trend in cutting the rates while growth recovers. The repo rate is at seven years low at 6 percent.

Of the important data which the RBI will consider in this bi-monthly policy meet will be inflation data, the impact of GST on the economy, Q2 GDP growth to 6.3 percent and the recapitalisation of public sector banks.

The Nifty is trading around its support level of 10090 level ( down by 0.33%) and Bank Nifty is trading around the 25036 level which is also a massively supportive. The Nifty volatility index has softened a bit by 0.5 percent and is at 14.94 level.

If the RBI predicts a dovish outcome of the growth scenario, then the market will crack below 10000 level and send the market towards 9900 level. The resistance in the Nifty will be at 10120 level and then at the 10170-10180 level.

View Full Artcile With Comments

Pre-Open Market Moves: 6th Dec

The market is likely to open with negative bias tracking the global cues in today’s session. The SGX Nifty is trading 0.4 percent lower at 10104 level. Weak sentiments from Asian majors including Nikkei 225 (-0.90%), Hang Seng (-1.19%) and Taiwan Capital Index (1.06%). The market will remain volatile ahead of the today’s RBI policy meeting decision, the rates are likely to be kept unchanged.

In line with my earlier technical analysis on Nifty, the index witnessed a strong support around the 10120 level in yesterday’s session. The immediate support for Nifty will be at 10090 level and 10050 level with resistance at 10120 and 10200 level.  For Bank Nifty, the support will be at 25000 and 24800 and resistance at 25300 and 25500 level.

Stocks which will be in focus in today’s session are Banking stocks, Idea, VRL Logistic, Bharti Airtel.

View Full Artcile With Comments

Pre-Open Market Moves: 4th December

The Indian domestic equity market is likely to open with a positive momentum tracking the SGX Nifty which is trading 28.50 points higher and strong global cues. The Asian majors including Hang Seng is up by 0.75 percent, Taiwan’s T Sec 50, Singapore STI and Nikkei 225 all are trading with mixed cues.

The US market in today’s session is likely to gain new heights as the major Tax reform bill has been passed in the Senate which will also affect other major markets positively. The immediate support for Nifty is at 10090 and resistance is at 10200 level. For Bank Nifty, the support is at 25100 and 25000 and resistance is at 25300 and 25500 level.

Stocks which will be in focus in today’s session are Infosys, ITC, Tata Motors, JSW Energy, Airtel. Escorts, TTML, Vijaya Bank.

View Full Artcile With Comments

Nifty Cracks Below 10150, IT,Banks and Metal Stocks extends Losses

The Nifty erased all the early gains and is currently trading below the significant 10150 level. Sectors which are pulling this market down are IT, Capital goods, metal and mining, banking sectors. The Q2 GDP growth number failed to cheer the market mood. The India VIX has surged almost by 10 percent to 14.80 points indicating huge volatility in the upcoming sessions.

Top losers in the Nifty index are Indiabulls Housing Finance, Tech M, Adani Ports, Aurobindo Pharma, Vedanta. Top gainers (with marginal gains) in the index are Kotak Mahindra Bank, Ambuja Cement, Infratel, IndusInd Bank, M&M. Nifty Advance Decline ratio is 590 advances against 1071  decline with 325 unchanged.

Nifty at 3:11 PM is trading 0.9 percent lower at 10135 level and Bank Nifty is trading at 25222 level.

View Full Artcile With Comments
Page 1 of 612345...Last »