MCX SUPPORT & RESISTANCE LEVEL (4 OCT 2018)

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com

 Call On TOLL FREE Number: 9009010900

 Whatsapp User Join Our Group: 9300421111

NCDEX SUPPORT & RESISTANCE LEVEL (4 OCT 2018)

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com

 Call On TOLL FREE Number: 9009010900

 Whatsapp User Join Our Group: 9300421111

Sensex dips 200 pts, Rupee off record low; Europe trades higher

The Indian rupee hit new record low of 73.41 on strong demand for the American currency from importers amid rising global oil prices and unabated capital outflows.

On IT services front after rupee depreciation, HSBC said the hopes are running high now as reflected in premium valuations.

It believes Q2FY19 earnings should be decent, but are unlikely to be an upside trigger, and sees relative value in the sector over the broader market.

"2-3 years demand visibility is decent and the rupee weakness provides a margin cushion," HSBC said.

The Indian rupee has depreciated nearly 15 percent year-to-date to hit record low of 73.41 against the US dollar on Wednesday.

The global research house has a Buy call on Infosys with increased target price at Rs 880 from Rs 830 per share earlier and also has Buy rating on HCL Technologies with increased target price at Rs 1,180 from Rs 1,120.

On other stocks like TCS, Wipro, Tech Mahindra, Mindtree and Mphasis, HSBC has Hold call with increased target at Rs Rs 1,990 (from Rs 1,910), Rs 300 (from Rs 290), Rs 780 (from Rs 740), Rs 1,220 (from Rs 1,200) and Rs 1,200 (from Rs 1,190) respectively.

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com

Call On TOLL FREE Number: 9009010900

Whatsapp User Join Our Group: 9300421111

Source:https://www.moneycontrol.com/news/business/markets/market-live-sensex-dips-200-pts-rupee-off-record-low-europe-trades-higher-3006971.html

NCDEX Support & Resistance Level

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com

 Call On TOLL FREE Number: 9009010900

 Whatsapp User Join Our Group: 9300421111

Opening Bell ( 3 Oct 2018)

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com

 Call On TOLL FREE Number: 9009010900

Whatsapp User Join Our Group: 9300421111

Nifty forms bullish candle, closes above 11,000; next target seen at 11,170

India VIX fell by 2.22 percent to 16.61 levels. Volatility has to cool down to form a short term top then only Nifty can form a short term bottom process for a temporary bounce back process, experts said.

The Nifty50 after flat opening fell sharply but formed the bottom and managed to rebound in noon trade to close tad above psychological 11,000 levels. The solution to IL&FS issue by forming new board lifted sentiment in later part of the session.

The index formed bullish candle on the daily charts after weakness seen in previous three consecutive sessions. It was a good start to October month after getting butchered in September.

Experts expect the Nifty to move up further if it sustains above 10,900 and said the next target is seen at around 11,170 levels but the downside seems limited.

The Nifty50 started off October month on a flat note but immediately fell sharply to hit day's low of 10,821.55, but managed to recoup those losses gradually in later part of the session and hit an intraday high of 11,035.65. The index closed 77.80 points higher at 11,008.30.

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com

Call On TOLL FREE Number: 9009010900

Whatsapp User Join Our Group: 9300421111

Source: https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-bullish-candle-closes-above-11000-next-target-seen-at-11170-3004231.html

India's crude steel output up 3.7% in August

India's crude steel output increased 3.7 per cent to 8.8 million tonne (MT) in August 2018, according to the World Steel Association (worldsteel). The country had produced 8.5 MT during the same month last year, the global industry body said in its latest report.

"Global crude steel production was at 151.7 MT in August 2018, a rise of 2.6 per cent compared to August 2017, it added.

China's steel production for August stood at 80.3 MT, an increase of 2.7 per cent as compared to 78.2 in the same month of 2017.

Japan's output grew marginally by 0.9 per cent to 8.8 MT in the month.

The US produced 7.5 MT of crude steel in August 2018, an increase of 5.1 per cent in comparison to same month of the 2017.

Spain and Italy produced 1.2 MT of crude steel in August. France's crude steel production was 0.9 MT in the reported month.

While Turkey's output fell 5.7 per cent to 3 MT, South Korea's crude steel output remained unchanged at 6.1 MT in August 2018.

World Steel Association is one of the largest industry associations in the world. Its members represent about 85 per cent of the world's steel production.

They include over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations and steel research institutes.

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com

 Call On TOLL FREE Number: 9009010900

 Whatsapp User Join Our Group: 9300421111

Source:https://www.moneycontrol.com/news/business/economy/indias-crude-steel-output-up-3-7-in-august-3003041.html