Global Market On Mixed Cues With Signs Of Uptrend Momentum

Global Indices on friday closed neutral or bearish on friday with majority of major European and US indices closing downtrend influenced by the negative grip similar to Asian markets during the second half of trading session on fears induced from expected N.Korean Nuclear test on Sept.09.2017. US markets however also had additional woes due to Hurricane Irma’s trajectory towards Florida and possible damage estimation which resulted in US dollar Index hitting lowest since January 2015.

Dow 30 closed on friday at 0.06% uptrend however NASDAQ and S&P 500 closed for the day at -0.59% and -0.15% decrease in value and EURO STOXX 50 and FTSE 100 closed on friday at -0.02% and -0.26% decrease in value. Market opened on Monday with uptrend momentum as global tensions eased down due to N.Korea decisions on refraining from Nuclear test on 09.09.2017 choosing to celebrate 69th anniversary of founding of the nation and honoring the scientists from nuclear program.

This has resulted in positive performance of US dollar index in Asian markets since market opened today morning. Major Indices across Asian and Australian market has been trading uptrend since market opened early Monday morning across time zones. FTSE STI , NIKKEI 225 and HANG SENG are currently trading at 0.18%, 1.47% and 0.97% with uptrend momentum.

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Pre-Open Market Moves: 11 Sept

The market is likely to continue the bullish momentum from Friday’s session with no major negative developments in the weekend. Nifty from the past two sessions has maintained the 9920 support level every time it fell lower.

In today’s session, Nifty is likely to stage a gap up opening. With all major Asian indices trading close to 1 percent gain. Hang Seng is up by 0.93 percent, Nikkei 225 is up by 1.38 percent, Strait Times is marginally up by 0.21 percent and Taiwan is trading marginally lower by 0.33 percent. The SGX Nifty is trading with gains of 0.50 percent.

Nifty is likely to hold the 9920 level underneath and target to break above 9980 and 10000 level. If it successfully closes above the resistance level, then fresh buying into the market will take it higher. Mid-caps, Auto and FMCG stocks will be in focus in today’s trading.

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Nifty closes near flat as Pharma , Realty and energy goes downtrend

Today’s market had mixed momentum with major bearish corrections across afternoon trading hours. Nifty which opened strong at pre-open and early trading hours of morning session took a softer bullish movement as momentum slowly dragged nifty near flat and into bearish movement post intra day. Despite going bearish twice during afternoon session being dragged down by losses from Mahindra & Mahindra, Dr. Reddy’s, Bharat Petroleum and Sun Pharmaceuticals strong gains from L&T Ltd, Vedanta Ltd, Tech Mahindra and Bharti Airtel helped pull nifty back up and close bullish at 9934.80 with a 0.05% increase in value.

Markets closed near flat across both BSE and NSE and overall movement is well within predicted loop of support and resistance level and as such we can say that market momentum across the week was on soft bull trend.

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Factors Affecting Markets Next Week

We started the week with uncertainty and deteriorating geopolitical situation after North Korea tested its powerful Hydrogen Bomb on Sunday. The market has stabilised a bit since then but fear in the market is still prevailing. Gold prices are rallying, the weak dollar is affecting the market. There are two major planned events over the weekend that could affect the market.

North Korea Foundation Day: The events relating to North Korea are worrying a lot for global markets. Over the last weekend, North Korea’s test of powerful Hydrogen Bomb resulted in the markets to be volatile. North Korea will celebrate its Foundation Day on 9th September, and traders are bit worried on the intent of Kim Jong. Any negative news will result in the global market to crack down.

3rd GST Council Meeting in Hyderabad: The GST Council will meet in Hyderabad for the 3rd time since the implementation of GST. Issues that are expected to come up in the meeting will be on additional cess on large and luxury vehicles and passage of the e-way bill for goods worth more than Rs 50000.

 

 

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Andhra Cements Limited On Bull Run Hit 52 Weeks High Today

Andhra Cements – a part of Jaypee Group Product has taken bull trend movement since the month started. The stock has been performing bearish with mixed momentum across the last 2 months on a range of 8.37 to 11.96 and saw major downtrend movement during month of August 2017 after update was released for un-audited quarterly financial results till 30-jun-2017 and new was released about change of directorate.

However the stock has again started bull trend movement since announcement was made on 05.09.2017 about annual general meeting / share holders meeting fixed on 27.09.2017 and book closure for AGM was done today which resulted in stock value hitting 52 week high at 15.90 at NSE and 15.95 at BSE. The support and resistance value concluded as per pattern indicated in chart after analyzing the volume movement and trade momentum using bollinger band,  moving average and parabolic SAR indicators is at 13.62 and 16.25

Chart Source : Economic Times ( NSE Chart Data )

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Market Trades Turns Range Bound and Weak

The market is losing steam after market staged a higher open. Nifty is in a range bound trading pattern for the last two days. In today’s session, the Nifty is hovering around the 9950-9920 level and following the same pattern as yesterday’s session. Asian Markets were weak all throughout the day and European Markets are also trading in the red zone

Advance Decline Ratio of Nifty is on the negative side with 18 stocks are advancing against 33 declines. India VIX (the measure of fear in the market) is marginally up by 0.88 percent. The market is showing resilience around the 9920 level and has made a good support area. Both MACD and Stochastic is in oversold territory.

In Bank Nifty, 24300 is providing support to the falling market and bouncing above from the level. Intraday high for Bank Nifty is its opening level i.e 24409 and intraday low is at 24276. Bank Nifty is currently trading at 24318 up by 13 points.

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Market Now : AN Session : 08.09

Today’s market has taken a mixed momentum with softer bullish majority, however as the bears continued to increase nifty tested neutral and softer bearish movement before regaining the original uptrend momentum. However there are chances of nifty moving back downtrend as trading session progresses into afternoon.  This downtrend influence is caused by negative performance of Realty, Pharma, Media, Energy and Automobile sectors.

Top gainers and losers among nifty 50 stocks are L&T ltd with 3.35% and Bharti Airtel with 1.20% increase in value  & Mahindra and Mahindra , Dr.Reddy’s Pharmaceuticals with -3.46% and -3.06% decrease in value respectively.

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Larsen & Turbo Jumps 4 percents

Engineering and Construction major L&T is trading upside in today’s session, with a huge spurt of volume.  L&T has been upgraded by global brokerage house Citi with a revised target price of Rs 1,452 apiece from Rs 1,341 earlier.

The stock in intraday session has gained around 5 percent but the weakness in the broader market is pulling the prices down. Currently, L&T is trading 3.8 percent higher at Rs 1173. In M5 and M30 chart we can check the unusual spurt in the volume leading to gains in the counter. Though, the prices seem to consolidate in the upper level and may come down a bit before today’s close.

Intraday 30 Minute Chart

Intraday 5 Minute Chart

 

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Punj Lloyd Stocks On Bull Trend As It Bags Myanmar NHAI Contract

Punj LLoyd Limited an EPC contractor company is currently on bull run across both NSE and BSE. The stock which faced over INR 127 Cr loss in its Q1 financial quarter was trading bearish across august posts its bull run from May to July 2017 on positive Q4 quarterly results. However since the first week of September the stocks started to move back uptrend on rumors of company’s bid for NHAI contract and when confirmed news was released on 06.09.2017 the stocks started moving bull trend at fast pace and is currently trading at 24.47 from its E.O.D on 05.09.2017 at 19.15. It was conformed by news updates that the contract was bagged by Joint Venture of Punj-Varaha Ltd  which is valued at INR 1,200 Crores.

A query has been raised by exchange regarding clarification of contract related details based on news published in business standard website yesterday and investors are on lookout for Punj-Lloyd’s response related to same as it can boost or hinder the bull run of stock momentum. The support and resistance value for the stock for today is expected at 19.48 and 28.33

Chart Source : Economic Times

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Future Consumer Limited & Punj Lloyd Limited : Bulls Of The Day From 5% to 10% Gains

Nifty has been trading on soft bull trend since market opened for the day and is going softer/near flat as trading session nears intra day. Nifty is currently trading at 9943.10 with 0.13% increase in value and top gainers for the morning session among nifty 50 stocks are L&T with 3.96% increase and Vedanta Ltd with 5.45% increase in value. Top losers among nifty 50 stocks are Dr. Reddy’s Laboratories Ltd with -2.92% and Sun Pharmaceuticals with -1.78% decrease in value.

Taking a look at NSE’s top gainers for the morning session including both nifty and non-nifty stocks the following companies stocks are on stable uptrend movement and is expected to continue uptrend movement across the entire trading session till end of day market closing.

 

Bannari Amman Sugars Limited – 8.11%

Punj Lloyd Limited – 10.13%

Andhra Cements Limited – 7.88%

Future Enterprises Limited – 8.58%

Tata Sponge Iron Limited – 6.89%

Manappuram Finance Limited – 5.30%

Future Consumer Limited – 8.18%

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Nifty Technical Analysis: 8th September

Yesterday, Nifty was able to close in the green zone but was not able to maintain the high level during the day will selling from higher levels. The NIFTY is getting support around the 9920 level and can be seen on the 5 min (M5) chart of the day.

Nifty staged a gap up opening but in absence of a strong momentum, it is not able to go above its first resistance of 9980. It is now below the first support level of 9940 to 9945 level of the day and if it breaks below then the next support will be 9920 and 9900 eventually. The MACD technical indicator is also suggesting an overbought condition. The pivot point for the day is coming at 9936. Currently, it is trading at 9933 with marginal gains of 3 points.

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Tata Steel Intraday Price and Volume Movement

Tata Steel had a gap up opening in today’s session with the support of huge volume of 5 to 8 time the average volume in 5 minutes charts. The stock is currently trading 1.59 percent higher at Rs 663.20 and is at 52 weeks higher. Intraday low for the stock is at Rs 654 which is the open level also.

The stock price is expected to correct a bit to level the gap it had in the opening session.Money Flow Indicator (MFI) and MACD technical indicators are suggesting an overbought situation and can go lower. In option chain, Rs 660 Put strike is witnessing the maximum change in term of addition open interest.

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Nifty Opens Above 9500’s As It Moves Uptrend

Indian Market moves uptrend as visible from the pre-open market situation and performance of nifty in Singapore exchange prior to Indian trading hours. Nifty opened for the day at 9958.65 and is currently trading at 9956.75 at 0.26% increase in value. Nifty is expected to move uptrend across the day however the bull trend momentum is expected to be on softer note similar to yesterday.

As nifty moves uptrend support is expected at 9948.90 and is expected to face stiff resistance at 9962.55 on first level breaching which it is expected to face second level of resistance at 9984.44 and if nifty still continues to move uptrend we can consider today’s market to be on aggressive bullish momentum with 9984.44 as new support level as it moves towards 10000 point mark.

We can expect strong bullish support from nifty metals and nifty infrastructure sectors however the bull run limitations and momentum influenced by bearish sectors and stocks will only be clearly visible near intra day.

Nifty’s yesterday movement within predicted support and resistance loop.

Nifty’s today’s 2 levels of resistance and support value predictions.

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Global Market On Mixed Momentum , Euro Gains Post ECB

Global market yesterday had mixed momentum , while Asian and European markets closed on positive note across major indices US market saw minor bull trend closing near flat and on softer bearish note. The US market saw gains from Healthcare , Technology and Utilities sector however the bearish performance of Telecom , Finance and Consumer services sector dragged down the market , with tug of between gains and loss keeping market near neutral , stocks like Comcast ,  General Electrical Company and Walt Disney which are usually viewed as huge bulls that help market move uptrend caused indices to fall on bearish trend.

NASDAQ closed at 0.07% where as DOW 30 and S&P 500 closed at -0.10% and -0.02%, European markets saw huge pull in uptrend movement post European Central Banks monetary policy announcement as there is no change in interest rate , QE decisions have been scheduled for October and its decision to monitor the Exchange rates movement further as it deems the situation to be volatile and uncertain. While EURO gained against British Pound the markets on both end closed uptrend with FTSE 100 closing at 0.58% increase and EURO STOXX 50 closing at 0.43%. Euro is currently gaining against GBP, USD and JPY however it is still slightly bearish against CHF.

Since market opened early today morning Asian market has been trading uptrend. Major indices such as HANG SENG , SHANGAI COMPOSITE , FTSE STI  are currently trading at 0.55%, 0.24% and 0.10% respectively.

 

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HDFCBank Rockets Higher

Yesterday, we had mentioned that our tech and data analysis pointed to a bullish short term trend for HDFCBANK and we had asked our readers to enter at CMP, which was 1763, through the options markets where the 1760 call was at Rs. 27. Now HDFCBANK is at 1780 and the call option is now Rs. 37.5. Exit now and thats a cool 35% for a single days work !

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Pre-Open Moves- 8th September

In yesterday’s session, Nifty has able to maintain the 9900 level, which is a good sign for the market to stay positive. The strength in the market is coming from the consumption stocks in Auto, FMCG indicating improving sentiment in the manufacturing sector which is a good sign.

The market is expected to start positively in today’s session. The Asian market, US and European markets are trading on a mixed bag. Hong-Kong and Japanese stock indices Hang Seng and Nikkei 225 are trading marginally lower by 0.05 – 0.3 percent respectively.

The SGX Nifty and TSEC are trading 0.15 and 0.53 percent higher respectively. The market is technically hovering above its 21-DEMA which is currently placed near 9893 levels, below which 50-DEMA is placed at 9820 levels. The market is expected to be choppy during the session with resistance at 9950-10000 level above.

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EOD Overview – 07.09.2017

Today’s market took a softer bull trend movement across the day. Nifty closed for the day at 9929.90 with 0.14% increase in value. This bull trend movement was supported by positive trading momentum from Nifty Realty, Nifty Metals, Nifty Auto and Nifty MNC sector.

Top gainers and losers for the day are India Bulls Housing Finance Ltd , Vedanta Ltd with 4.12% and 2.77% increase in value and Bharat Petroleum Corporation Ltd , Bharti Airtel Ltd with -2.19% and -1.74% decrease in value.

Top sectorial gainers and losers are Nifty Metals , Nifty MNC with 1.55% & 0.88% increase in value and Nifty FMCG , Nifty Energy & Nifty Media with -0.64%,-0.39% & -0.02% decrease in value.

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Market Now : AN Session : 07.09

Market is currently trading in soft bull trend momentum with 30 of nifty’s 50 stocks trading in bull trend. Nifty is currently trading at 9935.60 with a 0.20% increase in value with 11 of 12 sectorial indices trading in bull trend.

Top gainers and losers for the afternoon session are Indiabulls Housing Finance Limited , Eicher Motors Ltd with 4.01% and 3.02% increase in value and ITC , Bharat Petroleum Corporation Ltd with -1.98% and -1.73% decrease in value respectively.

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Future Consumer Limited On Bull Trend At 17.24% Gain

Future Consumer Limited is one of the stocks that has taken a bull run across this week and it has crossed 52-week high today. The stock has seen a stable uptrend movement despite global events which caused market to go on downtrend with a momentum that has created a new 52-week high value continuously for more than 8 days in a row.

The stock last crossed its support value of 45.74 on 23-Aug-17 and has climbed above without any immediate resistance currently trading at 64.60 and this uptrend movement is expected to continue in days to come as we are seeing a lot of buying activity for this stock in last one week. This stock can be viewed as one of more stable investment as it has maintained a constant uptrend nearly 200% increase in value in last one year.

We can expect the value to climb upto 70 before we see any minor downtrend movement or stiff resistance in the momentum.

Chart Source : Investing.com

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Nifty Trading Near First Level Of Resistance At Intra-Day

Today’s market has taken a soft bull run approach on chart. Nifty which opened with more than 0.30% increase today morning is currently trading near neutral with 0.10% increase in value at 9925.55.  While Sectorial benchmark indices may indicate positive market momentum except for energy and commodities sector, nifty’s softer performance could also be attributed to softer bull run on major sector stocks.

Top gainers and losers for the day are Indiabulls Housing Finance Limited , Eicher Motors ltd with 3.53% and 1.95% increase in value and Bharat Petroleum Corporation Ltd,  Tata Motors ltd with -1.53% and -1.05% decrease.

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These Stocks Have Gained More Than 8% to 12% Since Market Opened Today

Since market opened for the day Nifty has taken an uptrend movement. Nifty is currently trading at 9939.20 with a 0.23% increase in value and while the top gainer among nifty 50 has had a 3.47% gain (India Bulls Housing and Finance Ltd)  , these stocks have gainer more than 8% to 12%  and are also expected to trade uptrend across the entire day.

The Stocks and their gain value as of 10:59 Am are :

1) Jai Corp Limited – 9.96% 

2) Future Consumer Limited – 9.17%

3) Ess Dee Aluminium Limited – 19.87% 

4) Intense Technologies Limited – 14.79%

5) 63 moons technologies limited – 14.07%

6) Jindal Photo Limited – 16.41%

Top Gainers and losers of nifty’s top 50 are : India Bulls Housing and Finance Ltd & Eicher Motors Limited with 3.47% and 1.76% increase in value and Tata Motors Limited (TATAMTRDVR) & Bharat Petroleum Corporation Ltd with -1.79% and -1.51% decrease in value.

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Nifty Moves Uptrend On Mixed Global Cues With Two Possible Resistance Levels Before Climbing To 10000 Point Level

While the local economy has remained supported of a bullish stock market environment , the global scenario chooses to disagree and has taken bearish and mixed cues with recent events across eastern part of globe. As things seem to be going at ease global market has once again taken a mixed stance despite week long bearish grip.

This mixed cue today has resulted in positive / uptrend movement of nifty and sensex in Indian markets. Nifty is expected to move uptrend since market opens as it is visible from momentum it has gained in pre-open market and SGXNIFTY’s movement in Singapore market. While nifty is expected to move uptrend there are possibilities of nifty trading with a support and resistance range of 9882.64 and 9931.74 / 9948.53.

This support and two levels of resistance is derived from nifty’s performance from 30.Aug.2017 to 06.Sep.2017, when nifty crosses above 9948.53 if it continues the uptrend movement and climbs above 9962.80 we can view this value as new support level for nifty as it moves further up towards the 10000 point mark. This analysis is made as indicated by pattern from using Envelope , Moving Average and Standard Deviation Trend indicators on Nifty index  5 mins chart.

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Mixed Momentum In Global Market On Possible Bearish Outlook

Global Market saw mixed momentum yesterday across major indices. While majority of Asian indices closed bearish , Euro zone indices and US indices moved uptrend and closed bullish near end of day market session. However UK market was under bearish influence similar to Asian market resulting from an unstable local economic situation and negative global cues.

NASDAQ, DOW 30 and S&P 500 closed for the day at 0.28%,0.25% and 0.31% , Euro stoxx 50 closed at 0.42% , FTSE 100 closed at -0.25% at E.O.D yesterday. This mixed global cues has created a positive influence on Asian market via services and export/import sector area which helped greatly into pushing Asian and Australian indices on bull trend when market opened for the day.

HANG SENG , FTSE STI , S&P/ASX 200 and NIKKEI 225 are trading at 0.04%, 0.20%, 0.12% and 0.14% since market opened early today morning. This bull trend movement is expected to continue across major Asian market across entire trading sessions for the day as market opens and closes across time zone.

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Nifty Closes Bearish Despite Gaining Uptrend Momentum

Market today saw mixed momentum across various sectors. Nifty has a bearish momentum the whole morning session and early half of afternoon session. Nifty started moving back uptrend in later half of afternoon session influenced by bullish sentiment from positive movement of Realty, Metal , Media , Financial Services , energy and commodity sector stocks.

Nifty closed for the day at 9916.20 with -0.36% change in value. 20 of nifty’s top 50 stocks traded in bull trend. Top gainers and losers for the day are India Bulls Housing Finance Ltd and Hindalco Industries with 1.95% and 1.69% increase in value and Sun Pharmaceuticals Ltd and Bosch Ltd with -3.61% and -3.29% decrease in value respectively.

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