Sensex starts on a flat note, Nifty holds 10,800; TCS down 1% post Q3 show

Market opens It is a flat start to the market on Friday morning, with the Nifty holding 10,800-mark. 

The Nifty IT index is down around half a percent, with TCS dragging around 1 percent. Banks, consumption and metals were the other big gainers. The Nifty midcap index is up one-tenth of a percent. 

The Sensex is up 48.99 points or 0.14% at 36155.49, while the Nifty is higher by 9.10 points or 0.08% at 10830.70. The market breadth was positive as 301 shares advanced, against a decline of 115 shares, while 32 shares were unchanged.

Yes Bank and ITC are the top gainers, while TCS, Power Grid, and Bharti Airtel lost the most.

Rupee Update: The Indian rupee opened flat at 70.42 per dollar on Friday versus Thursday's close 70.41.

Source:https://www.moneycontrol.com/news/business/markets/stock-share-live-updates-market-live-sensex-starts-on-a-flat-note-nifty-holds-10800-tcs-down-1-post-q3-show-3377521.html

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Strong rally likely in January series as long as Nifty trades above 10,800

The Nifty50 started off in the negative zone at the beginning of the week following global peers. However, strong recovery in the latter half helped Nifty close in positive after two sessions of losing streak.

On the daily chart, a piercing candlestick pattern has formed, which suggests a bullish reversal of the short trend. A long lower wick in the latest candle indicates strong demand around 10,500.

On the other hand, even after a strong recovery, the strength indicator RSI (14) remained in the bearish crossover which means the momentum is still bearish.

On the options front, maximum open interest position is visible in 11,000 CE (45.13Lakh shares) and 10,000 PE (53.31Lakh shares); whereas, significant writing at 10,500 PE (7.25Lakh shares) and at 10,600 PE (7.15Lakh shares) pushed the index upward for the day.

Going forward, 10,600 and 10,500 would act as crucial support for the falling Nifty. On the higher end, immediate resistance is visible at 10,770-10,800 where 200DMA is lying. Sustained trades above 10,800 may induce further strong rally in the market.

Source: https://www.moneycontrol.com/news/business/markets/decoding-fo-data-strong-rally-likely-in-january-series-as-long-as-nifty-trades-above-10800-3332441.html

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HDFC Securities sees Nifty hitting 12,400 in 2019; 6 sectors it is talking about

The Nifty target for calendar year 2019 has been set at 12,400, analysts at HDFC Securities shared in a note. They believe that the market could move towards a cautious return-seeking position along with higher volatility.

Among the key events the market will watch keenly next year are Brexit, European Union Parliamentary elections, and general elections in India.

Meanwhile, positive cues for the market include reasonable valuations, sentiment in favour of emerging markets (EMs) should trade risks reduce. Along with it, it is betting on recovery in corporate earnings and seven out of 12 IBC cases getting solved.

The concerns highlighted by investors include reduced spending by government, leading to lower offtake growth in auto, FMCG and media, among others. Further, continued rise in rates by US Federal Reserve along with mutual fund tapering off post general elections could weight, it says.

The research firm shared outlook on multiple sectors. Here is a gist of those themes:

- Consumer: HDFC Securities believes that the sector has lower incremental potential. Its top picks include ITC, Voltas and V-Guard.

- Financials: The brokerage believes one could look for capable managements that are positioned for growth in long term. SBI and BoB, which have better capital and better operating practices will follow secular path.

- IT Services: Recent concerns around threat from digital evolution has misplaced us, it aid, adding that it is confident of growth trajectory at Infosys, TCS and L&T Technology.

- Infrastructure: It likes KNR Constructions and PNC Infratech. Slowdown in ordering could pick up in fourth quarter,

- Oil & Gas and mining: It sees overhang of government policies on pricing and distribution. It likes GAIL, Petronet, IGL and MGL.

- Metals: It recommends avoiding the sector as Chinese slowdown could have strong repercussions.

- Auto and Cement: Near term challenges could keep stock momentum in check. It prefers Ashok Leyland.

- Pharma: It expects pharma to spring a surprise in the coming months.

Source:https://www.moneycontrol.com/news/business/markets/hdfc-securities-sees-nifty-hitting-12400-in-2019-6-sectors-it-is-talking-about-3316931.html

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Sensex, Nifty trade rangebound amid rising crude prices; metal names rally

It’s a good start on the market on Monday, with the Nifty opening above 10,350, while the Sensex is up around 100 points. 

Among sectors, pharma and energy names are gaining the most, while financials are trading in the green as well. There are cuts visible in the automobile segment, with the Nifty Auto losing half a percent. The midcap index is up over one-third of a percent. 

The Sensex is up 89.48 points or 0.26% at 34563.86, while the Nifty is higher by 33.10 points or 0.32% at 10381.10. The market breadth is positive as 328 shares advanced, against a decline of 129 shares, while 2,870 shares were unchanged.

Indices are trading flat after witnessing a higher opening. The Nifty is trading around 10,350-mark, while the Sensex is flat. 

The Sensex is up 21.22 points or 0.06% at 34495.60, while the Nifty is higher by 3 points or 0.03% at 10351.00. The market breadth is narrow as 1,004 shares advanced, against a decline of 687 shares, while 1,640 shares were unchanged.

Yes Bank and HDFC are the top gainers, while Tata Motors, Asian Paints, and BPCL have lost the most.  

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Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-nifty-trade-rangebound-amid-rising-crude-prices-metal-names-rally-3024851.html

Indian rupee remains rangebound after lower opening, hovers around 72.50

After a lower opening the Indian rupee is trading marginally higher by 4 paise at 72.47 per dollar.

Rupee opened lower at 72.55 per dollar versus previous close 72.51.

The dollar-rupee September contract on the NSE was at 72.55 in the previous session. September contract open interest declined 0.62% in the previous session, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in pair to initiate long positions, it added.

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Source:https://www.moneycontrol.com/news/business/markets/indian-rupee-opens-marginally-lower-at-72-55-per-dollar-2959711.html

MCX SUPPORT & RESISTANCE LEVEL (14 SEP 2018)

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Bulls put up a fight as Sensex trades higher, Nifty looks to hold 11,300; pharma reverses losses

The positive moves in these sectors, along with a rally in index heavyweights such as ITC, HUL and HDFC Bank are helping the indices stay in the green zone.

Volatility has continued on D-Street on Wednesday morning. The Nifty is hovering around 11,300, while the Sensex is marginally higher.

The Sensex is up 57.50 points or 0.15% at 37470.63, and the Nifty up 14.30 points or 0.13% at 11301.80. The market breadth is negative as 666 shares advanced, against a decline of 1,334 shares, while 96 shares are unchanged.

Power Grid and HUL are the top gainers, while M&M, Tata Motors and HPCL have lost the most.

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Source:https://www.moneycontrol.com/news/business/market-live-bulls-put-up-a-fight-as-sensex-trades-higher-nifty-looks-to-hold-11300-pharma-reverses-losses-2943661.html

Closing Bell (4 Sep 2018)

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Sensex maintains 100-pt lead, Nifty hovers around 11,700; IT, pharma gain big

Gains in IT, pharma and automobiles have helped the market offset losses in banks on Monday morning. Automobile stocks are also rising as investors are reacting to their monthly sales data for August.

Gains in IT, pharma and automobiles have helped the market offset losses in banks on Monday morning, with the Nifty continuing to hold 11,700. The Sensex is up over 100 points. Tech stocks are soaring on the back of a huge upmove on Wipro, which is currently up around 6 percent. The rally is spilling over to other IT stocks as well.

Automobile stocks are also rising as investors are reacting to their monthly sales data for August. Buying counters are also buzzing in the midcaps space, with the Nifty Midcap index extending gains to around half a percent. Other big gainers include Bajaj Auto, and Lupin, while ICICI Bank, Maruti Suzuki and Bajaj Finance have lost the most.

The Sensex is up 127.93 points or 0.33% at 38773.00, while the Nifty is up 29.00 points or 0.25% at 11709.50. The market breadth is positive as 1,115 shares advanced, against a decline of 621 shares, while 100 shares are unchanged.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-maintains-100-pt-lead-nifty-hovers-around-11700-it-pharma-gain-big-2909171.html 

Closing Bell (31 Aug 2018)

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MCX SUPPORT & RESISTANCE (31 AUG 2018)

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Nifty FMCG outperforms led by United Spirits; ITC hits new 52-week high, PSU banks drag

The breadth of the market favoured advances, with 831 stocks advancing, 773 declining and 462 remaining unchanged. On BSE, 1104 stocks advanced, 873 declined and 98 remained unchanged.

The India benchmark indices are trading in the red this Thursday morning with the Nifty50 down 28 points at 11,664 while the Sensex is down 74 points at 38,648.

Nifty Energy is down close to a percent dragged by HPCL, India Oil Corporation and Reliance Industries which are down 1 percent each.

The PSU bank index shed 1 percent with loses from Bank of Baroda, Bank of India, Union Bank of India, State Bank of India and Punjab National Bank.


Individual private banks are also weak dragged by Axis Bank, IndusInd Bank, YES Bank and Kotak Mahindra Bank.

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Source: https://www.moneycontrol.com/news/business/markets/d-street-buzz-nifty-fmcg-outperforms-led-by-united-spirits-itc-hits-new-52-week-high-psu-banks-drag-2896881.html

Nifty jittery ahead of F&O expiry, Sensex sheds 38,750; midcaps gain

A sharp selloff in the last hour of trade weighed on equity benchmarks on Wednesday, with the Nifty giving up 11,700-mark. Weakness among giant index names such as Reliance Industries, HDFC Bank, and Infosys, among others, dragged the market lower as well.

Banks had a negative impact on the market, along with energy stocks, infra, IT and pharmaceutical names. However, PSU banks and metals tried to offset the losses, but bulls had the tide in their favour.

However, there was a strong upmove in the broader markets, with the Nifty Midcap index ending just around half a percent higher. The index had managed to soar a percent during the day’s trade.


Rise in crude oil prices due to withholding of supply by Iran as well as a depreciating rupee too added to the negative sentiment. The Indian currency managed to fall to a fresh record low of 70.57 per US dollar. Analysts that Moneycontrol spoke to attributed this to the month-end dollar demand by oil companies.

As such, all other factors are supportive of the currency. It could see appreciation after one or two days once this demand is out of the market,” Rushabh Maru, Research Analyst at Anand Rathi Shares and Stock Brokers told Moneycontrol. For the very short term, he expects support to be around 70.20/USD and resistance around 70.75/USD.

The day began on a flat note, with some weakness seen in banks. Throughout the day, equities traded flat, but a selloff in index heavyweights such as RIL and HDFC Bank, among others, dragged them lower.

At the close of market hours, the Sensex closed 173.70 points or 0.45% lower at 38722.93, while the Nifty fell 46.60 points or 0.40% at 11691.90. The market breadth is negative as 1,275 shares advanced, 1,415 shares declined, while 172 shares were unchanged.

ONGC, SBI, Bajaj Finance and UPL are the top gainers, while Coal India, RIL and Power Grid have lost the most.

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Source:https://www.moneycontrol.com/news/business/markets/an-evening-walk-down-dalal-street-nifty-jittery-ahead-of-f-midcaps-gain-2894491.html

Opening Bell (28 Aug 2018)

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Best Stocks of 2018

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