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Saturday, August 4, 2018

Learn and Earn in Share Market

Friday, August 3, 2018

Closing Bell (3 Aug 2018)

Sensex fell 7 times in past 10 years, will this be the 8th?

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The market rose the most during August 2014—just after Narendra Modi-led BJP government came to power on promises of reforms.

August has not started off on a particularly good note for D-Street with indices shedding a little over a percent on trade war concerns, RBI’s decision to hike interest rates, inflationary worries, among other things. The market had gained about 6 percent in July.

What’s more worrying is that the trend for the month of August over the past decade is not encouraging with indices ending in the red seven out of 10 times over the period.

Of these seven occasions, the market fell the most in the years 2011 --the highest with 9 percent fall -- 2013, 2015 and 2017. Meanwhile, green ticks were visible in 2012, 2014 and 2016. The biggest gain so far was in August 2014—just after the Narendra Modi-led BJP government came to power on promises of reforms.

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Source: https://www.moneycontrol.com/news/business/markets/august-scare-sensex-fell-7-times-in-past-10-years-will-this-be-the-8th-2798801.html

INTERNATIONAL MARKET UPDATE

NCDEX SUPPORT AND RESISTANCE

Nifty likely to trade around 11,000-11,500 this month; IOC, Vedanta top ideas to short

At this juncture, last week Friday’s gap area of 11,210 – 11,185 will act as a strong support. Any sustainable move below this level will extend the ongoing profit booking towards 11,080 – 11,025 levels respectively, says Aditya Agarwal of Way2Wealth Brokers.
.After breaching the previous all-time high of 11,171.55 on the previous Friday, Nifty hit another milestone and registered a record high of 11,390.55 during Wednesday’s session.

The 25-bps rate hike in repo rate by RBI along with the hawkish stance by the US FOMC put pressure on emerging markets and our market, too, reacted and corrected sharply on Thursday.

Looking at the monthly chart, July month candle closed well above its previous all-time high of 11,171.55 which indicates that the broader trend is undoubtedly bullish; however, such move failed to get confirmed by the RSI (14) which signaled bearish divergence.

At this juncture, last week Friday’s gap area of 11,210 – 11,185 will act as a strong support. Any sustainable move below this level will extend the ongoing profit booking towards 11,080 – 11,025 levels, respectively.

Whereas on the higher side, 11,390 – 11,415 is a strong supply zone and surpassing this zone will allow Nifty to rally towards 11,500.

Options data also indicate that 11,500 will prove to be a stiff supply zone for Nifty. Maximum call writing has been seen at 11,500 option and any move towards those levels can be used by a trader to book profit in their long positions.

Similarly, on the lower side, put writing at 11,200 will act as an immediate support and below that Nifty can drift towards 11,000 levels.

Overall, for this month, we expect broader indices to trade between 11,000 and 11,500 levels before giving any fresh breakout.

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Source:https://www.moneycontrol.com/news/business/markets/nifty-likely-to-trade-around-11000-11500-this-month-ioc-vedanta-top-ideas-to-short-2799781.html

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