MCX Support and Resistance Levels

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NCDEX Support and Resistance Level

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Closing Bell: Sensex ends over 370 points lower, Nifty below 10,700; metals, auto decline

Market at Close Equities are closing the session with cuts of over a percent on both indices. The Nifty ended below 10,700, while the Sensex ended nearly 400 points lower. 

Amid an all-round sell-off among sectors, financials, automobiles, and metals bled, while investors also dumped in the midcaps space. 

All of this added to the volatility on the market. 

At the close of market hours, the Sensex was down 377.81 points or 1.05% at 35513.71, and the Nifty lower by 120.20 points or 1.11% at 10672.30. The market breadth was negative as 962 shares advanced, against a decline of 1,588 shares, while 151 shares were unchanged.

Asian Paints, HUL, and Bharti Infratel were the top gainers, while ONGC, M&M, IOC and Eicher Motors lost the most.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-updates-closing-bell-bse-nse-sensex-ends-over-370-points-lower-nifty-below-10700-metals-auto-decline-3349001.html

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MCX Support & Resistance Level

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Flat start on D-Street, Nifty below 10,800; Bank of Baroda up 3% on merger announcement

Market opens Equities have begun the day on a flat note, with the Nifty trading below 10,800. 

The Sensex is up 28.52 points or 0.08% at 35920.04, while the Nifty is down 2.20 points or 0.02% at 10790.30. The market breadth is negative as 268 shares advanced, against a decline of 139 shares, while 31 shares were unchanged.

Wipro, Sun Pharma, Coal India and Titan are the top gainers, while ONGC, TCS, and HPCL lost the most. 

Among sectors, there is a flat trend across all names. Pain is visible among infrastructure and metals. 

Source:https://www.moneycontrol.com/news/business/markets/stock-share-market-live-updates-bse-nse-flat-start-on-d-street-nifty-below-10800-bank-of-baroda-up-3-on-merger-announcement-3349001.html

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Indices trade higher, Nifty around 10,900; Indiabulls Housing, DHFL most active

  

MARKET OPENS Equities have begun the week on a good note, with the Nifty surging to 10,900-mark. 

The Bank Nifty, too, has seen a positive opening, up around half percent in early morning trade. 

The Sensex is up 165.73 points or 0.46% at 36242.45, while the Nifty is higher by 52.60 points or 0.48% at 10912.50. The market breadth is positive as 407 shares advanced, against a decline of 107 shares, while 25 shares were unchanged.

Other sectoral gainers include automobiles, metals, and pharmaceuticals, among others. The Nifty Midcap index has opened around half a percent higher. 

IndusInd Bank, State Bank of India, Indiabulls Housing and Hindalco have gained the most, while Kotak Mahindra Bank, Power Grid, and NTPC were the big losers.

RUPEE OPENS The Indian rupee has opened at 69.80 per US dollar against previous close of 69.94 per dollar.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-trade-higher-nifty-around-10900-indiabulls-housing-dhfl-most-active-3337721.html

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MCX SUpport and Resistance Level

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Financials' rally boosts Sensex by over 300 points; Nifty eyes 10,900

Market opens The Nifty has begun January series above 10,800, while the Sensex is higher by over 150 points. 

All sectoral indices, barring metals, are trading in the green, with maximum gains visible among banks, pharmaceuticals and automobiles. The Nifty Midcap index is up half a percent.  

The Sensex is up 163.11 points or 0.46% at 35970.39, while the Nifty is higher by 46.90 points or 0.44% at 10826.70. The market breadth is positive as 318 shares advanced, against a decline of 107 shares, while 23 shares were unchanged.

Asian Paints, Vedanta, Titan and Yes Bank gained the most, while Coal India, ONGC and BPCL lost the most. 

RUPEE OPENS The Indian rupee opened higher/lower at 70.05 per US dollar. This is an appreciation of 30 paise in the currency market.

Source: https://www.moneycontrol.com/news/business/markets/market-live-financials-rally-boosts-sensex-by-over-300-points-nifty-eyes-10900-3331801.html

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MCX Support and Resistance Level

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Options data indicates short-term trading range of 10,600-10,900

Nifty has taken resistance from previous swing high and formed shooting star candle which is justifying the selling pressure on higher side around the strong psychological mark of 11,000 and 100-DMA at 10,950.

ADX indicator is trading around 17 mark, which is less than crucial levels considered for a trending market, expresses no strength in current trend on either side suggesting market to take support at a lower level and close the month sideways.

However, weekly RSI is still placed near 50 for the last four weeks indicating sideways to positive momentum intact. Also, looking at market movement since 2001, there is 95% probability that markets will have positive Christmas week.

On the downside, Nifty has strong support from the line of parity around 10,700 and 50-DMA at 10,574. A major unwinding of Put writing and shifting of writing to lower strikes was seen on Friday. Option data suggests an immediate trading range of 10,600 and 10,900.

Bank Nifty

Banking index is trading in rising wedge pattern having lower side support around 26,300 and upper trend line resistance is placed near 27,250 levels. Since Bank Nifty is trading above major moving averages, its short-term & mid-term trend is positive and immediate trading range is 27,250-26,300 levels.

Source:https://www.moneycontrol.com/news/business/markets/options-data-indicates-short-term-trading-range-of-10600-10900-3319041.html

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Sensex, Nifty continue downward momentum; midcaps crack

Market opens It’s a positive start to the market on Monday morning, with the Nifty trading one-fifth of a percent higher. 

The Sensex is up 89.93 points or 0.25% at 35832.00, while the Nifty is higher by 21.80 points or 0.20% at 10775.80. The market breath was narrow as 278 shares advanced, against a decline of 164 shares, while 45 shares were unchanged.

Metals and automobiles are the ones to be in the red, while consumption, pharma and PSU banks were gainers. In the broader market, the Nifty Midcap was up quarter of a percent. 

Shares of Infosys, Wipro, and Indiabulls Housing were the top gainers, while Vedanta and Hero MotoCorp lost the most. 

Asian markets trade lower: Asian stocks started in subdued fashion on Monday as investors fretted that political instability in the United States was leaving the country rudderless at a time when the global economy was showing signs of faltering.

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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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Indian ADRs end in red: ICICI Bank, Tata Motors end lower, Wipro falls 4%

In the IT space, Infosys was down 1.94 at USD 9.10 and Wipro plunged 4.09 percent at USD 4.93. In the banking space, ICICI Bank fell 2.74 percent at USD 9.93 and HDFC Bank shed 2.33 percent at USD 100.40.

Indian ADRs ended lower on Friday. In the IT space, Infosys was down 1.94 at USD 9.10 and Wipro plunged 4.09 percent at USD 4.93.

In the banking space, ICICI Bank fell 2.74 percent at USD 9.93 and HDFC Bank shed 2.33 percent at USD 100.40.

In the other sectors, Tata Motors slipped 0.48 percent at USD 12.37 and Dr Reddy's Laboratories was down 1.21 percent at USD 36.84.

Source: https://www.moneycontrol.com/news/business/markets/indian-adrs-end-in-red-icici-bank-tata-motors-end-lower-wipro-falls-4-3317801.html

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International Market Update

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NCDEX Support and Resistance Level

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INTERNATIONAL MARKET UPDATE

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INTERNATIONAL MARKET UPDATE

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INTERNATIONAL MARKET UPDATE

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INTERNATIONAL MARKET UPDATE (05 Oct 2018)

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Sensex sinks 900 pts; rupee hits 74/$ for first time as RBI holds rates

The market is not showing any sign of recovery as it has been falling sharply for third consecutive session.

The 30-share BSE Sensex fell 465.99 points or 1.32 percent to 34,703.17, taking total fall to more than 4,000 points from its record high touched on August 28.

The 50-share NSE Nifty fell 185.20 points or 1.75 percent to 10,414.10.

RBI said while the projections of inflation for 2018-19 and Q1FY20 have been revised downwards from the August resolution, its trajectory is projected to rise above the August 2018 print.

The outlook is clouded with several uncertainties like minimum support price announced by the government, rising crude oil prices, volatility in global financial markets, sharp rise in input costs, fiscal slippage if any and staggered impact of HRA revision by the state governments.

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Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-sinks-900-pts-rupee-hits-74-for-first-time-as-rbi-holds-rates-3015141.html