The market continues to continue being rangebound. The actual Sensex can be decrease 33.63 details at 22021.85, as well as the Effective can be decrease 4.25 details at 6579.25 Regarding 1062 gives have got advanced, 1182 gives declined, along with 147 gives tend to be unrevised.
The actual rupee is at a new 7.5 30 day period high tracking increases inside the european along with Cookware colleagues. Provides tend to be constant tracking durability inside the rupee. Profit sales reduce more increases. Most industry avid gamers tend to be about the sidelines ahead of the discharge on the government's applying for diary. Reliance, ONGC, Wipro, Bharti along with M&M tend to be prime losers inside the Sensex. The actual gainers inside the Sensex include things like BHEL, GAIL, Tata Steel along with HDFC baby twins. Commodity observed silver deal near a couple of weeks levels. Brent primitive had been steady yet Nymex lost the fight early increases on information of which officials were being looking to reopen an important Tx shipping funnel. Asian market segments deal Lower. On the other hand, expectations on the Chinese language govt helping the overall economy having a stimulus plan next the vulnerable producing files limits the problem. SOYABEAN TECHNICAL OUTLOOK:
On the technical charts, Soybean April futures trend is sideways to bullish where it has resistance at 4380 on an intraday basis & 4190 is an immediate support. Soybean closed at 4250. Momentum indicator RSI is currently positively biased & is indicating bullish trend in the commodity. Traders can take a long position at around 4220 with a stop loss of 4190 for the day target of 4380. FUNDAMENTAL OUTLOOK: Soybean exports from US continue to the Chinese Markets. Unfavorable weather conditions can create volatility in the price of Soybean. CHANA TECHNICAL OUTLOOK: From an intraday perspective, chana April contract will trade on a neutral to bearish note. A crucial support is seen around 3240 & resistance is placed at 3300. Yesterday, Chana closed at 3259. Intraday traders can take a buy position in chana around 3240 with a stop loss at 3215 & a day target of 3300. On the daily chart, momentum indicator RSI is negatively biased indicating a bullish trend in the commodity. Ncdex Intraday Trading Trend 24 March SOYABEAN APRIL Support: 4190/4215 Resistance: 4260/4280 CHANA APRIL Support: 3240/3280 Resistance: 3340/3360 CORINDER MAY SUPPORT: 8600/8720 Resistance: 8930/9030 TURMERIC MARCH SUPPORT: 6050/6100 Resistance: 6300/6380 JEERA MARCH SUPPORT: 9700/9850 Resistance: 10100/10250 KAPAS SUPPORT: 845/848 Resistance: 862/872 COTTON MCX SUPPORT: 20480/20590 Resistance: 20800/20900 Read More http://research4u.co.in/intraday_stock_commodity_tips/intraday-ncdex-trading-trend-24-march/ MARKET COMMENTARY
Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 32 points at the opening bell. Asian shares gave up earlier gains on Monday after the China HSBC flash manufacturing purchasing managers index (PMI) fell to an eight-month low in March. Key benchmark indices in Hong Kong, China, Singapore, Japan, Indonesia & South Korea rose by 0.01% to 1.83%. In Taiwan, the Taiwan Weighted fell 0.06%. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near-month March 2014 series to April 2014 series. The near-month March 2014 F&O contracts expire on Thursday, 27 March 2014. Key benchmark indices ended almost unchanged on Saturday, after moving in a narrow range during a special live trading session conducted by the stock exchanges. Foreign institutional investors (FIIs) bought shares worth a net Rs 14.79 crore on Saturday, 22 March 2014, as per provisional data from the stock exchanges. US stocks dropped on Friday, 21 March 2014, pressured by a sell-off in the health-care sector, yet major equity indexes still posted solid weekly gains. President Vladimir Putin signed laws completing Russia’s annexation of Crimea on Friday amidst worried investors worldwide. NEWS UPDATES FTSE Global Equity Index Revision -Changes effective after the close of business on Friday, March 21 2014 Moved to Large cap Index from Midcap Index - Tech Mahindra - United Spirits – Dabur Moved to Midcap Index from Large cap Index - PNB - PFC – Tata Power - Reliance Power Moved to Midcap Index from Smallcap Index - Mahindra & Mahindra Financial Services Investment weightage increases -Raises Mahindra & Mahindra Financial Services investment weightage to 48 percent from 43 percent -Raises Bharti Infratel investment weightage to 11 percent from 9 percent -Raises Container Corporation investment weightage to 30 percent from 24 percent -Raises Mindtree investment weightage to 81 percent from 68 percent -Raises Axis Bank investment weightage to 62 percent from 49 percent ONGC board to consider second interim dividend today United Bank cuts base rate to 10.25 percent from 10.50 percent effective today Arshiya International board to meet on March 27 to review recast package okayed by CDR cell AirAsia‘s first Airbus A320 from France arrives in Chennai on Saturday Minority shareholders may oppose use of Financial Technologies money for NSEL relief MCX -SX rights issue may run into rough weather, IFCI (largest shareholder) to skip issue, others too running cautious..Read More MARKET SUMMARY:
It was a lackluster special trading session on Saturday for Indian equity market. The day was started on flat note & nifty traded in very small trading range of 6482-6502 level for the entire trading session. There was no activity in front line index while there was satisfactory movement in some midcap counters. At the end nifty close at 6494 mark with flat note. Nifty may come out of trading range where 6480 is significant support to watch out. Daily Nifty Levels Resistance: 6520/6540/6570 Pivot: 6498 Support: 6480/6430/6400 CHART FORMATIONS:
After a long consolidation nifty may come out of this range where if nifty manages to trade above 6480 mark then it may move towards 6570 mark once again while below 6480 nifty may slip to 6430/6400 mark.....Read More Rupee strengthened against its major trading partners last week taking cues from upbeat domestic & global market sentiments, weakness in the dollar index, & continuous dollar inflows by the FIIs.
FOMC announced a third $10 billion reduction to quantitative easing, reducing its monthly bond purchases to $55 billion & keeping with Fed watchers’ tapering exceptions. The Fed will cut monthly mortgage bond purchases to $25 billion from $30 billion. Treasury purchases will drop to $30 billion a month from $35 billion. Federal Reserve chair Janet Yellen suggested interest rate hikes would happen approximately six months after quantitative easing ends. FIIs bought securities worth net Rs. 3438.35 crores in the cash & derivatives segment of the Indian equity markets on Friday. India’s foreign exchange reserves rose $1.838 billion in a single week to March 14 as overseas investors poured in funds to buy stocks & bonds in local markets on hopes that a stable government. The forex reserves stood at $297.287 billion at the end of that week. Foreign currency assets for the week rose $1.842 billion to $269.814 billion. Reserves in gold remained unchanged at $20.978 billion. USD INR Rupee gained 0.62 percent against the dollar in futures on Friday & closed at 61.0700. The spot rate is currently at 60.89. The dollar index traded below the psychologically crucial 80-mark for most of the week yet closed above at 80.1160. Comments from the Federal Reserve Chair Janet Yellen hinting a rise in the interest rates in the near future pushed the US 10 Yr bond yields higher which after a near 4.8% fall last week, gained nearly at a similar pace & currently standing near 2.77% mark. In the offshore non-deliverable forwards, the one-month contract was at 61.41 while the three-month was at 62.14. Overall, we expect rupee to trade on a neutral note against the dollar due to lack of any major economic data touch points on Monday. Slight strength in the dollar index may cap large gains in the rupee due to upbeat domestic market sentiment. High FII inflows on Friday are likely to assist rupee maintain its gains in the past week. Some volatility can be expected ahead of expiry this week. Technical Outlook: As seen on the daily chart, USDINR is trailing at the support in the 61.10-61.00 range since the past many days. Any significant move will be seen if it breaches this level on the downside or bounces upwards. 61.75 is an significant resistance on the upside while 60.80 is a crucial support level for the counter below which it will head towards the 60.50 mark. EUR INR In the futures rupee gained 0.41 percent against the Euro & closed at 84.1800 on Friday. The spot rupee closed at 84.01. Euro zone current account rose unexpectedly to a seasonally adjusted Euro 25.3 billion, from 20.0 billion in the preceding month whose figure was revised down from 21.3 billion. ECB officials in their comments lately have specified the need for a lower euro, as the region being an export oriented economy should continue to cap any kind of positivity in the shared currency even due to external factors like a sharp & unexpected fall in the dollar index. Overall we expect the rupee to trade on a neutral to positive note against the Euro due to upbeat domestic market sentiments & improving economic scenario in India. However, positive economic data from the Euro zone may cap sharp gains in the INR. Technical Outlook: As seen on the daily chart, EURINR is taking support at the down sloping trend line of the channel near the 84.10 mark. If it bounces upwards from this level then 84.90 is a crucial resistance while on the downside, 83.80 is an significant support. GBP INR In the futures rupee gained 0.65 percent against the GBP on Friday & closed at 100.7475. The spot rupee closed at 100.38. UK public sector net borrowing was £7.5bn in February, less than forecasts for £7.8bn & up on January’s revised £6.8bn. The GBP/USD continued to ease to trade at 1.65 on Friday yet was not able to capitalize on the downward pressure on the US dollar. Overall, we expect rupee to trade on a neutral to positive note against the pound due to international weakness in pound. Technical Outlook: As seen on the daily chart, GBPINR has breached the support at 100.95 mark & closed below it. It is likely that the counter will head downwards where 100.24 is a crucial support. JPY INR In the futures rupee gained 0.45 percent against Yen, & closed at 59.6900 on Friday. The spot rate of JPY INR is currently at 59.55. Japan passed its biggest-ever budget, a 95.88 trillion yen (S$1.2 trillion) spending package aimed at propping up growth as consumers brace themselves for the country’s first sales tax hike in over 15 years. The new budget comes as Tokyo pushes for speedy implementation of a US$50 billion stimulus package specially designed to protect Japan’s fragile economic recovery. We expect rupee to trade on a neutral to positive note against the Yen due to international weakness in Yen & increased spending by the Japanese government. Technical Outlook: As seen on the intraday chart, JPINR has closed below the support at 59.72. It is likely that the counter will head downwards where 58.89 is an significant support. On the upside, 60.07 is a crucial resistance for the counter. Read More http://research4u.co.in/intraday_stock_commodity_tips/currency-trading-technical-report-24-march/ 12:00pm Industry continued to consolidate at throughout the 6500 amount after smacking record highs. The Sensex climbed 49.77 points to 21789. 86 as well as the Nifty rose 21.25 points to 6504.27.
Advancing gives outnumbered declining ones by the ratio involving 1370 to 961 around the BSE. Metals usually are stars today using the BSE Steel Index rising over two percent. Aluminium important Hindalco Industrial sectors climbed over 3 percent as well as Tata Metal and Sesa Sterlite along with 2.7 per cent. Software products and services provider Wipro topped the purchasing list, rising over 5 percent whilst rival TCS gained 1 per cent. India's most significant lender State Bank involving India gained 1. 7 per cent while competitor HDFC Bank and Axis Bank are marginally higher. Nonetheless, state-run oil & propane major ONGC dropped 1.6 percent as well as Reliance Industrial sectors, Sun Pharma and NTPC along with 1 per cent. Cigarette important ITC and engineering & construction major Larsen & Toubro tucked 0.6 per cent each....Read More On back of weak global cues, yesterday Indian markets opened on negative note and thereafter continued to see selling pressure throughout the session. Long unwinding coupled with fresh short accumulation was seen in banking, auto, capital goods and metal sector that dragged nifty below 6500 levels and finally it settled around 6483 down by 41 points.
Unwinding of long positions was seen in nifty and Bank Nifty fut. whereas CNXIT fut. saw short covering from lower levels. Fresh short accumulation was seen in stocks like REC , Mahindra & Mahindra Financial , GAIL , IOB , LIC Housing and Bank of Baroda . Selected long positions were added in stocks like ONGC , JSW Energy , Karnataka Bank , Aurobindo Pharma , Hindustan Unilever and Dabur India . Petronet , Larsen and Toubro , Oriental Bank of Commerce , Jaiprakash Associates , Bata and PNB were some of the stocks that saw profit booking from higher levels. After yesterdays profit booking, today domestic markets are expected to open on positive note and will continue to see buying at lower levels. On lower side Nifty will find immediate support around 6480 level and below that can test 6420 levels whereas on higher side 6560-6600 will continue to act as strong supply zone for indices in short term. Read more at: http://www.moneycontrol.com/news/brokerage-recos-fo/support-for-nifty-at-around-rs-6480-way2wealthcom_1055992.html?utm_source=ref_article 02:00pm Equity benchmarks are marginally lower amid volatility with the Nifty consistently hovering around the 6500 level. Banks, capital goods, auto and metals stocks are under pressure while the buying in technology stocks capped the downside.
The Sensex declined 51.25 points to 21781.61 and the Nifty lost 25.65 points to 6498.40. About 1169 shares have advanced, 1454 shares declined, and 160 shares are unchanged. State-run gas transmission company GAIL and power equipment maker BHEL dropped 3 percent each followed by HDFC, L&T and Hero Motocorp with 2 percent. Shares of ITC, HDFC Bank, ICICI Bank, State Bank of India, Axis Bank, Tata Motors, Tata Steel and Sesa Sterlite dropped 0.7-1.7 percent. However, technology stocks continued to see buying interest on rupee depreciation. TCS recouped yesterday's losses, gaining 3.56 percent while rival Infosys and Wipro rallied 1.5-2 percent. FMCG major Hindustan Unilever and drug maker Sun Pharma climbed 1-2 percent. Read more at: http://www.moneycontrol.com/news/local-markets/hdfc-lt-hero-motocorp-fall-2-sensex-under-pressure_1055653.html?utm_source=ref_article Intraday Ncdex Commodity Trading Tips 20 March SOYABEAN TECHNICAL OUTLOOK: On the technical charts, Soybean April futures trend is sideways to bullish where it has resistance at 4380 on an intraday basis & 4270 is an immediate support. Soybean closed at 4327. Momentum indicator RSI is currently positively biased & is indicating bullish trend in the commodity. Traders can take a long position at around 4305 with a stop loss of 4270 for the day target of 4380. FUNDAMENTAL OUTLOOK: Soybean exports from US continue to the Chinese Markets. Unfavorable weather conditions can create volatility in the price of Soybean. CHANA TECHNICAL OUTLOOK: From an intraday perspective, chana April contract will trade on a neutral to bearish note. A crucial support is seen around 3240 & resistance is placed at 3340. Yesterday, Chana closed at 3311. Intraday traders can take a buy position in chana around 3280 with a stop loss at 3240 & a day target of 3340. On the daily chart, momentum indicator RSI is negatively biased indicating a bullish trend in the commodity... Read More http://research4u.co.in/intraday_stock_commodity_tips/intraday-ncdex-commodity-trading-tips-20-march/ |
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