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US indices close flat as political rhetoric sees sentiment turn cautious. Global markets consolidate as US Dollar weakens further with emerging market currencies seeing big gains.

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Indian Indices: Asian indices opened weak as profit booking seems on the cards after the heady run of the past few weeks. US Dollar weakness saw strength in most Asian currencies, which boosted sentiments with positive inflows into equities. There could be some more consolidation as US political rhetoric takes centre stage, which could see some more profit booking on rallies.


Nifty crossed 9500 led by Auto, Banks and FMCG as foreign flows and left out feeling witness huge buying chase stocks. With most sideline sitters also jumping in the fray expect another final bout of irrational exuberance as Nifty moves into extremely overbought zone. For today expect Tata Steel to lead from the front after posting excellent results last evening, while mid-cap housing and financials could be under pressure from profit booking.


The BSE Sensex is currently trading at 30599.56, up by 16.96 points or 0.06% after trading in a range of 30519.14 and 30642.94. There were 17 stocks advancing against 13 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index was up by 0.10%.

The CNX Nifty is currently trading at 9507.50, down by 4.75 points or 0.05% after trading in a range of 9489.70 and 9521.00. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Tata Steel

492.85

7.84

RTNPower

8.89

5.58

Sobha

433.00

5.11

Monsanto

2919.45

5.18

Group ATopLosers

 

 

Shreecem

18926.40

-5.11

Edelweiss

181.65

-4.29

PNB

167.65

-3.95

Religare

184.70

-3.65

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

30430

30660

Nifty

9475

9535

 

Technical view: Nifty finds strong support around 9450 which was the previous support while 9600 will act as resistance on the upside. Bank Nifty will also find support now around 22750 while 23100 will act as resistance on the upside.


 

SBI (Buy Above 308 with Stop Loss at 301 for Target of 320): After consolidating for the past six weeks, the stock has finally broken out from a symmetrical triangle pattern on the daily charts. The price outburst has been accompanied with credible rise in volumes too. In addition, other momentum oscillators also indicate than the upswing is likely to extend, which further accentuates our bullish stance on the stock.


Derivative Snippets

In the last trading session, Nifty, Bank Nifty, Mid-cap Index closed on record highs. Nifty closed above 9500 level for the first time ever as huge short covering was witnessed in 9500 CE strike. Nifty ATM/OTM put option strikes continue to remain under selling pressure. Nifty 9600 CE added fresh long positions, indicating a further up move. Bank Nifty 22500 CE added fresh long positions to the tune ~95k shares.

FIIs were net buyers in cash market segment to the tune of Rs 858 Cr.

FIIs index future long short ratio at 2x.

 

Nifty Movers: The top gainers on Nifty were Tata Steel up by 5.32%, Indiabulls Housing up by 2.89%, ICICI Bank up by 1.49%, BhartiAirtel up by 1.10% and Mahindra & Mahindra up by 1.04%.  On the flip side, Tech Mahindra down by 2.59%, Yes Bank down by 1.38%, ACC down by 1.31%, Bosch down by 1.23% and Wipro down by 1.23% were the top losers.

 

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Metal up by 1.75%, Power up by 0.61%, Telecom up by 0.55%, Utilities up by 0.53% and Realty up by 0.49%, while Consumer Durables down by 0.77%, IT down by 0.55%, FMCG down by 0.38%, TECK down by 0.33% and Healthcare down by 0.16% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading in red, on the continued chaotic US political situation weighing on expectations for economic policies favoring tax cuts and higher spending. Japanese stocks dropped after the dollar eased against the yen on weak US economic data, while financials stocks underperformed hit by lower US yields.

 

Global Signals:The Asian markets were trading in red; Nikkei 225 decreased 109.98 points or 0.55% to 19,809.84, Hang Seng decreased 42.16 points or 0.17% to 25,293.78, Taiwan Weighted decreased 34.27 points or 0.34% to 9,997.22, Jakarta Composite decreased 22.05 points or 0.39% to 5,624.95, FTSE Bursa Malaysia KLCI decreased 6.67 points or 0.38% to 1,771.48, KOSPI Index decreased 3.33 points or 0.15% to 2,292.00 and Shanghai Composite decreased 2.45 points or 0.08% to 3,110.52.

 

BULLS LIFT MARKET TO NEW CLOSING HIGH; NIFTY ABVOE 9500, SENSEX GAINS 260 PTS

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Indian Indices: Indian equity benchmarks extended their previous session gain as investors remained bullish about the prospects of a good monsoon. The benchmark indices -- BSE Sensex touched fresh all-time intra-day high of 30,590.71, while the NSE index Nifty touched a new peak of 9,517.20 in trade. The equity benchmarks made a positive start in early deals as traders took support from industry body FICCI’s latest Economic Outlook Survey which pegged India’s gross domestic product (GDP) growth at around 7.4 percent for the fiscal year 2017-18. The survey was conducted during March and April 2017 and recorded a median GDP group forecast of 7.4 percent for the current fiscal year, with a minimum and maximum level of 7 percent and 7.6 percent respectively. The pick-up in overall GDP growth will also be supported by an improvement in industry and services sector growth. Some support also came with the report that India’s monsoon rains are expected to arrive on the southern Kerala coast on May 30, two days ahead of schedule. India looks likely to receive higher monsoon rainfall than previously forecast as concern over the El Nino weather condition has eased.

The BSE Sensex ended at 30587.36, up by 265.24 points or 0.87% after trading in a range of 30363.37 and 30590.71. There were 22 stocks advancing against 8 stocks declining on the index. The broader indices ended in green; the BSE Mid cap index was up by 0.27%, while Small cap index was up by 0.36%.

The CNX Nifty ended at 9509.70, up by 64.30 points or 0.68% after trading in a range of 9456.35 and 9517.20. There were 36 stocks advancing against 15 stocks declining on the index

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Unitech

6.19

11.13

J&KBank

88.65

8.71

KEC

247.95

7.31

Indhotel

144.35

5.17

Losers

 

 

CholaFin

1016.95

-3.10

IL&Fstrans

114.20

-2.89

Godrejcp

1876.05

-2.61

Bharatfin

790.85

-2.36

INDEX PERFORANCE

 

 

Index

Close

% Chg

Sensex

30,582.60

0.86

Nifty

9,512.25

0.71

Crporate Front:

The Indian Government has said that it is planning to build multimodal logistic parks at 15 places across the country with an investment of Rs 33,000 crore. As per reports, the National Highways Authority of India (NHAI) inked a pact with the Tamil Nadu government for one such park. The NHAI signed anMoU with the Tamil Nadu Industrial Development Corporation Ltd (TIDCO) in New Delhi today, for the development of a multimodal logistics park in the Ponneri Industrial Node area near Kamarajar Port in Tamil Nadu.


 

Macroeconomic front:The Reserve Bank of India today fixed the reference rate of the rupee at 64.0758 against the US dollar and 70.5539 for the euro. The corresponding rates were 64.1188 and 70.1332, previously. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 82.7795 and 56.52 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

 

On the global front:

On the global front, European markets were trading in green, as investors look beyond global cybersecurity threats and the latest North Korean missile test. Asian markets were also trading in green. Back home, in scrip specific development, Fortune Financial Services (India) edged higher after the company acquired 49,00,000 equity shares of Rs 10 each fully paid of ITI Gilts (earlier known as Crest Debt Capital Markets). The Company was already holding 51% of the paid up capital of ITI Gilts and now on acquisition of these 49,00,000 equity shares, ITI Gilts has become a wholly owned subsidiary of the company.

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28028.00

0.33

Silver

38672.00

0.44

Crude oil

3153.00

0.13

Natural Gas

215.50

0.23

Alluminium

122.70

0.37

Copper

360.30

-0.35

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Telecom up by 1.90%, TECK up by 1.10%, IT up by 1.06%, FMCG up by 1.02% and Auto up by 0.99%, while Metal down by 0.61% was the sole loser on BSE.

Top Nifty Movers:The top gainers on Nifty were Hero MotoCorp up by 3.06%, ACC up by 2.86%, TCS up by 2.54%, BhartiAirtel up by 2.43% and Bank of Baroda up by 2.33%. On the flip side, Kotak Mahindra Bank down by 1.65%, Indiabulls Housing down by 1.10%, ONGC down by 0.88%, Mahindra & Mahindra down by 0.84% and Zee Entertainment down by 0.84% were the top losers.

 

 

Global Signals:

Asian markets were trading mostly in red; Hang Seng decreased 35.65 points or 0.14% to 25,335.94, Jakarta Composite decreased 22.57 points or 0.4% to 5,666.30, Taiwan Weighted decreased 5.33 points or 0.05% to 10,031.49 and FTSE Bursa Malaysia KLCI decreased 4.19 points or 0.24% to 1,774.46. On the flip side, KOSPI Index increased 4.68 points or 0.2% to 2,295.33, Shanghai Composite increased 22.74 points or 0.74% to 3,112.96 and Nikkei 225 increased 49.97 points or 0.25% to 19,919.82.

European markets were trading mixed; UK’s FTSE 100 increased 22.68 points or 0.3% to 7,477.05 and Germany’s DAX increased 7.96 points or 0.06% to 12,815.00. On the flip side, France’s CAC decreased 19.89 points or 0.37% to 5,397.51.

 

Auto Sector -Research Report-Sharetipsnfo

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Sector Overview:

The big getting bigger – category leaders reinforce their dominance

* Demonetization puts brakes on growth of passenger cars and motorcycles.

* Value continues to migrate toward scooters and SUVs, driven by changing customer preferences.

* Uptrading in 2Ws/4Ws continues, as reflected in the increasing share of premium motorcycles and PVs priced more than ~INR800k.

* Category leaders getting stronger as competition hurts second/third ranked players more.

We took a deep dive into granular data on the Indian 2W/PV industry, observing continuance of bigger trends in FY17, along with increased dominance of category leaders in both 2W and 4Ws. While demonetization had stalled a revival, there are early signs of a 2W export market recovery. Key highlights:

 

Sector Growth Outlook:

Demonetization puts brakes on recovery, especially of 2Ws

Demonetization had stalled the recovery in the auto sector, primarily impacting the 2W segment due to its higher exposure to the rural market and lower financing penetration. Between November 2016 and March 2017, while PV volume growth slowed to 6% (v/s +11% over Apr-Oct 2016), 2W volumes fell 6% (v/s +16% over Apr- Oct 2016). However, we note that normalcy has been restored in PVs (volumes up ~10% in March 2017) and 2Ws have recovered to record flat YoY growth.

 

 

Value migration toward scooters/SUVs continues

The structural trend of customers preferring scooters in 2Ws and SUVs in 4Ws continued in FY17. Scooters’ share increased to ~31.8% of 2W volumes (+120bp YoY). Similarly, SUVs continued to grow faster than the PV industry (32% growth in UVs v/s +9.2% in domestic PVs), increasing its share to 24.8% of domestic PVs (+420bp YoY).

Premiumization continues in both 2Ws/4Ws

The trend of premiumization continued in both 2Ws and 4Ws, with customers upgrading to relatively premium products. In 2Ws, motorcycles >150cc grew by 22%, driving up the share of premium 2Ws by 190bp to 15.4% of domestic 2W volumes. In PVs, volumes of vehicles priced INR800k & above grew ~22% YoY, translating into a higher share of products priced INR800k & above to 41% (+100bp).

Investment Rationals:

The big getting bigger: Category leaders gaining further dominance

Category leaders further strengthened their dominance in FY17, despite intensifying competition . In the executive segment, HMCL’s market share improved to 72% (v/s 61% three years back), despite the entry of TVS Victor. In scooters, HMSI’s market share expanded to ~57% (+170bp YoY), at expense of HMCL (-220bp) and TVS (- 60bp). In PVs, MSIL gained market share for the fifth consecutive year (since Manesar issue), now commanding ~47.4% share of the domestic PV industry.

New launches drive PV industry growth

FY17 domestic PV volumes grew 9.2% to 3.05m units, driven by ~30% growth in UVs and ~4% in cars. New products (including ramp-up of last year’s launches) drove entire growth, with 185% share of incremental volumes. The key volume drivers were Brezza, Baleno, Tiago, Kwid and Ignis.

2W exports showing signs of recovery; other players eating into market share of Bajaj Auto

After a prolonged period of weakness since 2HFY16, 2W exports are showing signs of recovery with ~12.5% growth in 4QFY17 (v/s -6% in FY17). With all the relevant players focusing on exports, the share of Bajaj Auto has reduced 660bp to ~52% of 2W exports (motorcycle export share shrunk by 580bp to 60%). HMSI gained the most, with a 400bp increase in exports share to ~12%.

 

Conclusion:

Valuation and view

We prefer 4Ws over 2Ws/CVs due to stronger volume growth and a stable competitive environment. Our top picks are Tata Motors, Maruti Suzuki and Amara Raja. We also believe that MM is an attractive play on a rural market recovery.

 

Global indices consolidate as gold rises with North Korean missile test, while US data indicates Federal Reserve on track to raise rates in June.

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Indian Indices: Asian indices opened mildly with losses as North Korea conducting missile test over the weekend witnessed sentiment turn weak. This even as US data indicates the Federal Reserve would raise rates in June, which has seen the bond yields rise to over 2.42% on the US 10 year bond. This week should see some caution initially with any dip being a chance to buy as the global bull market remains intact.


Nifty hit 9450 and reacted sharply during midsession to close around 9400 with foreign buying being matched by local selling. Banks both Private and PSU bore the brunt of selling while Auto, Realty and select IT saw fresh buying. For today expect mixed reaction on the index while stock/sector outperformance may continue as local profit booking gathers momentum.


The BSE Sensex is currently trading at 30317.57, up by 129.42 points or 0.43% after trading in a range of 30273.62 and 30357.96. There were 22 stocks advancing against 8 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 1.03%, while Small cap index was up by 0.74%.

The CNX Nifty is currently trading at 9442.25, up by 41.35 points or 0.44% after trading in a range of 9423.10 and 9445.35. There were 34 stocks advancing against 17 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Pel

2925.00

12.09

Net Work18

52.25

7.29

CUB

183.00

5.48

CGPower

96.10

5.43

Group ATopLosers

 

 

Idea

85.50

-7.04

UCOBank

39.30

-5.42

Titan

477.00

-3.54

Glenmark

731.80

-3.63

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

30065

30350

Nifty

9355

9436

 

Technical view: Nifty found strong support around 9372, which was Friday's low and will act as initial support on the downside while 9450 will act as resistance on the upside. Bank Nifty also finds strong support around 22550 while 22800 will now act as resistance on the upside.


 

MothersonSumi (BUY Above 415 with Stop Loss at 407 for Target of 430): The stock has been in a solid uptrend for the past five months. On analysing the daily chart, Motherson was stuck in a narrow trading range for the past two weeks; however, the stock has finally broken out from this gestation period and has given a continuation pattern breakout. The price outburst has been accompanied with increase in volumes, which further accentuates out bullish stance on the stock.


Derivative Snippets

Infosys has deferred salary hikes for employees to July and even later in case of senior executives as the Indian tech industry struggles to cope with uncertain environment and visa-related issues in key markets like the US.

In the last trading session, markets closed on a negative note dragged by banking stocks. Nifty ATM/OTM call and put option strikes saw short selling, indicating of a trading range between 9300-9500. Bank Nifty 23000 CE saw some unwinding of long positions, making 23000 levels as an important resistance for the index.


FIIs were net buyers in cash market segment to the tune of Rs 842 Cr.FIIs index future long short ratio at 2 x v/s 2.3x.

 

Nifty Movers: The top gainers on Nifty were Hindalco up by 3.82%, Tata Steel up by 2.61%, Dr. Reddy’s Lab up by 2.32%, Ultratech Cement up by 1.92% and Kotak Mahindra Bank up by 1.90%. On the flip side, Infosys down by 1.47%, BhartiInfratel down by 1.45%, AurobindoPharma down by 0.99%, Eicher Motors down by 0.66% and Wipro down by 0.60% were the top losers.

 

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Metal up by 1.79%, Basic Materials up by 1.65%, Realty up by 1.28%, Bankex up by 0.94% and Utilities up by 0.84%, while Consumer Durables down by 1.02%, Telecom down by 0.85%, IT down by 0.70% and TECK down by 0.66% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading mostly in green, despite headwinds from a weekend missile test by North Korea and concerns over further spread of ransomwarecyberattacks globally. China’s factory output and fixed asset investment growth cooled more than expected in April, adding to signs that momentum in the world’s second-biggest economy is slowing from a strong start in the first quarter.

 

Global Signals:The Asian markets were trading mostly in green; KOSPI Index increased 1.89 points or 0.08% to 2,287.91, Shanghai Composite increased 7.84 points or 0.25% to 3,091.35, Taiwan Weighted increased 35.68 points or 0.36% to 10,022.50 and Hang Seng increased 149.17 points or 0.59% to 25,305.51.On the other hand, Nikkei 225 decreased 34.46 points or 0.17% to 19,849.44, Jakarta Composite decreased 15.74 points or 0.28% to 5,659.47 and FTSE Bursa Malaysia KLCI decreased 2.2 points or 0.12% to 1,773.67.

 

Know the proper timing when to invest

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If you are able to know how to invest in the stock market then you can always get good profits from the market. You have to get in hold of a good website where you can get to find many useful information of the market. If you fail to find the right time to invest in the market then you might have to lose all your money. You cannot just invest your money in the stocks and lose it. You need to know that it takes quite a long time to understand the market well. You also need to know about the working and functioning of the different concepts of the market so that you can clear all your doubts in the market. 

If you fail to understand the market then you would be solely responsible for all your losses that you incur in the market. In case you feel that you have understood the market well then you can surely reap profits from your invested cash in the stocks. So try to gather as much knowledge as possible by reading books on stock market or even watching the business news. In thus way you can know the market scenario and the right time to invest in the market. You should get to know the proper timing when to invest.

 

Do not be impatient

You might have seen people who lose their money investing in the stocks. One of the main reasons why they fail in the market is that they do not have enough patience when they invest in the market. You need to have good patience when it comes to investing in the market so that you remain on a much safer side. You should also not try to get influenced by your ignorant friends to invest in the market. They do not have any good knowledge of the market and they try to invest blindly. In such cases you have to lose your money investing in the wrong stocks. So the more research you make in the market, the more knowledge you can gain in the market. You have to get to know about the past performances of the different stocks in the market so that you can get the one that would help you in getting some good profits from the market. You can also get to know about the online stock trading where buying and selling of stocks is done all online. This type of trading is very popular because it helps in saving a lot of your time and money. 

 

Plan your decisions accordingly

You have to make your decisions very carefully and you should also try to determine which types of investments would be profitable for you. You have to know the advantages of both long term and short term investments. If you are ready to invest in the short term investment then you can go for day trading. But you should know that there are some investors who feel this type of trading to be very risky. So you should know all the important information of day trading. You would be glad to find that you have invested in the right stocks. You might lose some of your money in the market but this should not let you feel down. You should try to have good confidence on yourself and try to know what went wrong in the previous stocks that you incurred losses in the market.

 

Visit genuine websites

You have to make sure that you try to visit genuine websites so that you do not fall prey to websites that might try to rob off your money. You can have a look at the comments or feed backs of the different visitors so that you can know which would be the best website. You should try to put your best foot forward in order to reap the ultimate benefits from the market.

 

Thus you have to know the proper timing when to invest. If you are able to get the right time to invest then you would not have to worry about anything regarding your investments in the market.

Weekly Nifty Trading View for the Week May 15, 2017–May 21, 2017

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Events to watch this week

  • Trump agenda tougher sell after Comey firing

  • Macron cruises to French presidency

  • South Korea elects new president

  • Volatility touches multi-decade lows

  • IMF expected to rejoin Greek bailout

The Week ahead:

  • China reports retail sales and industrial production data on Monday, 15 May

  • US industrial production is released on Tuesday, 16 May

  • Japan releases its Q1 gross domestic product figures on Wednesday, 17 May

  • The United Kingdom releases its April retail sales report on Thursday, 18 May

For the week,Global equities were little changed on the week amid presidential elections in France and South Korea and fresh political turbulence in Washington. The yield on the US 10-year Treasury note, at 2.34%, saw scant net change on the week. West Texas Intermediate crude oil firmed modestly, to $47.50 a barrel from last week’s $45.50.

NIFTY- 9,400.90
CRUDE OIL-Rs 3,062 barrel
GOLD-Rs 28,015 gram
Rs/$-Rs 64.31

MARKET ROUND UP 
Key equity benchmark indices registered strong gains in the week ended Friday, 12 May 2017. The barometer index, the S&P BSE Sensex and the Nifty 50 index scaled record highs on the back of domestic and global cues. 
The market sentiment was boosted by chief of the India Meteorological Department (IMD) reportedly commenting that India may likely receive higher monsoon rainfall than previously forecast. A good monsoon would positively impact rural incomes which in turn could give a boost to mass consumption sectors like FMCG, two-wheeler industry etc. A substantial part of the country derives income from agriculture and allied sectors. 
The Sensex rose 329.35 points or 1.1% to settle at 30,188.15. The Nifty 50 index advanced 115.60 points or 1.24% to settle at 9,400.90. 

The BSE Mid-Cap index rose 0.92%, under performing the Sensex. The BSE Small-Cap index advanced 1.12%, outperforming the Sensex. 

Macro Economic Front: 
On the Economic Front,the government will announce industrial production data for the month of March 2017 after market hours on Friday, 12 May 2017. The data on inflation based on consumer price index (CPI) or retail inflation for April 2017 will also be announced after market hours on that day.

The data on inflation based on wholesale price index (WPI) for April 2017 is also slated to release after market hours on Friday, 12 May 2017. India's trade data for the month of April 2017 is scheduled on Monday, 15 May 2017.

Major Action &Announcement:
Asian Paints declined 1.21%. The company's consolidated net profit rose 10.4% to Rs 462.22 crore on 8.9% rise in revenue from operations to Rs 4416.23 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Thursday, 11 May 2017.

TCS advanced 1.86%. The company announced that it has opened its first Drones Research Lab in the US at its Seven Hills Park Innovation center located in Cincinnati, Ohio to address the rapidly expanding demand for unmanned aerial vehicles and business solutions across industries. The announcement was made after market hours on Friday, 5 May 2017.TCS announced that South Africa's Mercantile Bank successfully transformed its banking operations with TCS BaNCS Digital. The announcement was made during market hours on Wednesday, 10 May 2017.

Power Grid Corporation of India (PGCIL) was down 1.32%. The company said that Department of Telecommunications, Ministry of Communications, Government of India has granted unified license dated 2 May 2017 to the company with national long distance and internet service provider-category A service authorizations for providing telecom services. The license is valid for 20 years. The announcement was made during market hours on Tuesday, 9 May 2017. 

Lupin rose 0.29%. The company issued clarification to the media news after market hours on Tuesday, 9 May 2017. The company said that recently its Aurangabad facility underwent an inspection by the USFDA. The inspection was completed on 26 April 2017, subsequent to which, the USFDA issued Form 483 citing eight observations. The company is in the midst of putting together a response to address the observations. 

DrReddys Laboratories declined 0.66%. The company's consolidated net profit rose 175.37% to Rs 337.60 crore on 5.32% decline in net sales to Rs 3498.50 crore in Q4 March 2017 over Q4 March 2016. The result was announced during trading hours on Friday, 12 May 2017. 

Tata Motors was up 2.54%. Tata Motors Group global wholesales including Jaguar Land Rover (JLR) declined 4% to 73,691 units in April 2017 over April 2016. The announcement was made during market hours on Wednesday, 10 May 2017.

Global Front: 
In Overseas Markets,centrist candidate Emmanuel Macron won the French presidential election with about 66.1% of the votes, against 33.9% for rival Marine Le Pen. The victory on Sunday, 7 May 2017 for the 39-year-old Macrona staunch supporter of the European Union is likely to placate anxious global market investors, who have fretted for weeks that far-right candidate Le Pen would win and make good on promises to yank France out of the EU, potentially unsettling the eurozone and world markets.
The International Monetary Fund said Asia's economic outlook faces significant uncertainty and downside growth risks from any sudden tightening in global financial conditions or rise in protectionist trade policies. The IMF, which in April raised its 2017 Asia-Pacific growth forecast to 5.5% from its previous October forecast of 5.4%, said loose monetary and fiscal policies across most of the region would underpin domestic demand. India's growth is expected to rebound to 7.2% in the FY 2018 and 7.7% in FY 2019 after disruptions caused by demonetization, the IMF said.

Global Economic News:

Legislative calendar grows more challenging for Trump
President Donald Trump’s health care reform and tax cut agenda have faced significant legislative headwinds for some time, but those headwinds stiffened considerably after the president removed from office embattled Federal Bureau of Investigation director James Comey. Measures that require a 60-vote majority in the 100-seat United States Senate will be extremely difficult to enact given the charged political environment. Republicans, with 52 senators, hold a slim majority.

Macron outperforms expectations
Centrist Emmanuel Macron was expected to easily beat right-wing populist Marine Le Pen in the second round of the French presidential election, but his margin of victory proved to be even larger than expected. Macron received 66% of the vote to Le Pen’s 34%. He must now forge a governing majority in the National Assembly, with two-round parliamentary elections scheduled for 11 June and 18 June.

South Korea’s president aims for warmer North Korea relations
Newly-elected South Korean president Moon Jae-in took office on Wednesday and vowed to resolve the security crisis on the Korean peninsula as soon as possible, including by traveling to Pyongyang, under the right conditions. On the economic front, Moon is expected to push for the reform of South Korea’s conglomerate system, as well as to seek higher corporate taxes.

Greek bailout may secure IMF backing
Concerns over the sustainability of Greek debt have caused in the International Monetary Fund to bypass the past several rounds of funding for the indebted Euro zone member. But the IMF looks likely to rejoin the bailout in the weeks ahead, and continues to push European authorities to grant Greece debt relief. An agreement is expected at a meeting of Euro group finance ministers on 22 May.

US consumer perks up
US retail sales expanded at the fastest rate in three months in April, while prior months’ data were revised higher. Strong labor markets and modestly rising wages are supporting consumption. Consumer prices in the US remain subdued, rising 0.2% in April after falling 0.3% in March. Core CPI rose 0.1% in April, and was up 1.9% versus a year ago.

Bank of England leaves policy untouched, lowers outlook
The Bank of England left interest rates unchanged at their rate-setting meeting on Thursday but the Monetary Policy Committee slightly downgraded its economic growth forecast for 2017 to 1.9% from an earlier 2% outlook. Governor Mark Carney allowed in a press conference that the BOE “has not modeled” for a disorderly Brexit process. Carney also said that if the Brexit process goes smoothly, the Bank may need to hike interest rates faster than the market expects.

GLOBAL CORPORATE NEWS

VIX bounces from 24-year lows
Volatility, as measured by the Chicago Board Options Exchange Index (VIX), fell to its lowest level since 1993 this week amid unusually calm equity trading conditions. The VIX, at 10.6 on Friday morning 12 May, is running at roughly half of its twenty-year average, according to Reuters. Analysts are struggling to explain the unusually placid market environment, with one well-known pundit this week pinning the blame on social media. The VIX slipped as low as 9.7 on Monday 8 May.


As of 11 May, with 457 of the S&P 500 companies having reported, earnings are expected to increase 14.7% in Q1 versus a year ago. Excluding energy, earnings are expected to grow 10.4%. Revenues are expected to grow 7.3%, or 5.3%, excluding energy. The next-twelve-months P/E ratio is 17.8%, according to Thomson Reuters I/B/E/S.

NEW 52-WEEK HIGH BSE (A):

ALBK

92.50

CENTURYTEX

1218.20

DLF

209.40

NEW 52-WEEK LOWS BSE (A):


DRREDDY

2525.25

MAJOR WEEKLY GAINERS IN BSE A CATEGORY(%):


ADANI TRANSMISSION

22.40

CG POWER

17.23

UNITED SPIRITES

14.64

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:


DENA BANK

-13.76

GLENMARK

-10.27

YES BANK

-7.76



Eyes will be set on the certain US economic data releases are: 
Monday (15May)
Housing Market Index
Tuesday (16 May)
Housing Starts 
Wednesday (17May)
MBA Mortgage Applications
Thursday (18May)
Jobless Claims
Friday (19May)
No Major Data


Fundamental Pick of the week:
Buy Majesco Ltd For Target Rs. 556.00 

STOCK IN FOCUS 
* Majesco’s stock rose by 2.4% yesterday, while the BSE Sensex was flat. While the company reported a disappointing 4QFY17, with revenue down 6.2% QoQ in USD terms, we believe underlying industry fundamentals and the key IBM partnership will enable Majesco to boost revenue growth in FY18E.

* Under-penetrated and significant market opportunity, highly rated products - Total addressable market for Majesco stands at ~US$ 25bn. Within this, the addressable market size for the US P&C market stands at US$ 9.25bn.
Majesco has also developed products for the L&A market; of the total estimated addressable market of US$25bn for Majesco, around US$15-16bn relates to the L&A market. We currently have a target price of Rs 556 on the stock.

TECHNICAL VIEW:


S3

S2

S1

NIFTY

R1

R2

R3

9,300

9,338

9,365

9,400.90

9,434

9,468

9,520

NIFTY began the session on lifetime- high tracking positive cues from Asian markets, but later index remained sideways during the day. Finally, after oscillating in 9,451-9,411 range, NIFTY closed the day at 9,422 mark with gain of 15 points.NSE Cash segment reported turnover of Rs25,387crore as compared to Rs24,298 crore earlier.Overall market breadth remained negative, where 672 stocks advanced against 986 declined stocks.Mixed trend was observed across all the sectoral indices during the day, where Media index emerged as a top gainer with the increase of 3.4% respectively. However, none of the sectoral indices reported loss of more than 0.5%

Bank Nifty made high of 22977 doing our target of 22940 and now holding 20700 we can move towards 23110.Bearish only below 22500. Hope traders are Enjoying this wonderful ride we are having in market. Dance till the music lasts. Bank Nifty finally closed below 22700 suggesting bulls are near the gann angle support holding the same we can again see an upmove towards 23000/23110.Bearish below 22500 for a move towards 22350/22100

Conclusion: 
Indian equity market following a breather in the last week regained its upward journey. With the statement from IMD that projected a normal monsoon provided the required impetus to push Nifty to pierce 9450 mark for the first time ever. Post a big rally, the market invariably faces a hurdle in the form of resistance at higher levels. This is a normal phenomenon in a bull market, which was very much in play during this week’s trade. In addition, Friday sell-off led by Banking stocks saw markets giving away some of the gains. Yes Bank, ICICI Bank and Axis Bank stocks declined sharply on wide divergence between reported NPA and RBI assessed NPA. Pharma stocks remained under pressure as earnings continue to disappoint with latest Glenmark results reporting a wide miss on estimates.


Interestingly, BankNifty under performed against the benchmark index, and was the main reason for slowdown in index action post the breakout session on Wednesday. Furthermore, records kept tumbling on indices even as the global market rally and an historical low VIX contributed towards the gains.

WEEKLY NIFTY TRADING VIEW FOR THE WEEK MAY 08, 2017–MAY 14, 2017

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Events to watch this week

  • Payroll rebound boosts June Fed rate hike chances
  • Macron poised to win French presidential election
  • Brexit battle lines harden
  • European growth picks up

The Week ahead:

  • The French presidential election takes place on Sunday, 7 May
  • China reports foreign exchange reserves on Sunday, 7 May
  • China reports its trade balance on Monday, 8 May
  • ECB president Mario Draghi addresses the Dutch parliament on Wednesday, 10 May
  • The Bank of England meets to set interest rates on Thursday, 11 May
  • The US reports retail sales and its Consumer Price Index on Friday, 12 May

For the week,Global equities extended their gains this week against a backdrop of improved economic growth, particularly in Europe. Slumping commodity prices may prove worrisome down the road, however, with the price of West Texas Intermediate crude falling to nearly a six-month low, ending the week near $45.50, down from $49.00 last Friday. The yield on the US 10-year Treasury note rose modestly, to 2.35%, up 4 basis points on the week. Volatility, as measured by the Chicago Board Options Exchange Volatility Index (VIX), held steady near 10.

NIFTY- 9,285.30
CRUDE OIL-Rs 2,970barrel
GOLD-Rs 28,070 gram
Rs/$-Rs 64.38

MARKET ROUND UP

Key indices settled with small losses as profit booking emerged after indices hit record highs in the recent past. The Sensex settled below the psychological 30,000 mark after regaining that mark during the week. The Nifty had hit record closing high on 4 May 2017.

Key indices had posted decent gains on 4 May 2017 that saw Nifty scaling record closing high on that day after witnessing listless trade in first two sessions of the week. However, drop on the final session of the week tracking weak global stocks caused indices to wrap the week with minor losses.

The market fell in two out of four sessions in truncated trading week. The market remained closed on Monday, 1 May 2017, on account of Maharashtra Day.

The Sensex declined 59.60 points or 0.19% to settle at 29,858.80. The Nifty 50 index skidded 18.75 points or 0.2% to settle at 9,285.30.

The BSE Mid-Cap index dropped 0.54%. The decline in the index was higher than the Sensex's drop in percentage terms. The BSE Small-Cap index shed 0.1%. The decline in the index was lower than the Sensex's fall in percentage terms.

Macro Economic Front:

On the Economic Front,data released by Markit Economics during market hours on 4 May 2017 showed that the rate of increase in Indian service sector activity weakened in April 2017. The headline seasonally adjusted Nikkei Services PMI Business Activity Index was down at 50.2 in April, from 51.5 in March.

Market Economics in a press release issued during market hours on 2 May 2017, said that manufacturing conditions in India improved for the fourth straight month in April. However, the headline Nikkei India Manufacturing Purchasing Managers' index (PMI) remained unchanged at 52.5 in April as in March.

Meanwhile, the combined index of eight core industries comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP) stood at 202.9 in March 2017, which was 5% higher compared to the index of March 2016. The data was released by the government on 1 May 2017.

Major Action &Announcement:

Tata Steel was down 3.53%. The company announced that Tata Steel UK has completed the sale of its speciality steels business to Liberty House Group for a total consideration of 100 million pounds. The announcement was made during market hours on 2 May 2017.

Housing finance major HDFC rose 0.61%. The company's net profit fell 21.58% to Rs 2044.20 crore on 7.7% decline in total income to Rs 8514.51 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours on 4 May 2017.

ONGC dropped 1.56%. ONGC Videsh, a 100% subsidiary of ONGC announced that it has encountered exciting result in its well Mariposa-1 which is under drilling in CPO-5 block of Colombia. ONGC Videsh is the operator of the block and holds 70% participating interest and Amerisur Resources holds the remaining 30%. The announcement was made after market hours on 4 May 2017.

TCS gained 2.11%. The company said it has been selected by one of Europe's largest utilities companies Vattenfall-to provide IT services across multiple European operations including Swedan, Germany and the Netherlands. The announcement was made after market hours on 2 May 2017. The managed services agreement is a multi-year partnership in which TCS will be responsible for the development and maintenance of a large number of applications.

Wipro rose 0.88%. The company announced that it has joined Enterprise Ethereum Alliance (EEA) as a founding member. EEA is a collaboration of enterprises to promote, develop and implement enterprise grade Ethereum based blockchain applications across industries for specific business use cases. The announcement was made after market hours on 4 May 2017.

ICICI Bank surged 7.2%. The stock was the biggest gainer from the Sensex pack. The bank's net profit jumped 188.5% to Rs 2024.64 crore on 10.8% decline in total income to Rs 16585.76 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on 3 May 2017.

Hero MotoCorp gained 1.38%. The company's total two-wheeler sales declined 3.5% to 5.91 lakh units in April 2017 over April 2016. The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of the transition from BS III to BS IV vehicles. The announcement was made on 1 May 2017.

Maruti Suzuki India rose 1.88%. The company's total sales rose 19.5% to 1.51 lakh units in April 2017 over April 2016. Domestic sales grew by 23.4% to 1.44 lakh units in April 2017 over April 2016. Exports declined 29.4% to 6,723 units in April 2017 over April 2016. The announcement was made on Monday, 1 May 2017.

Global Front:

In Overseas Markets,the US Federal Reserve on 3 May 2017, left monetary policy unchanged, as expected, and indicated it remains on track to deliver two more rate increases by year-end. The Fed said that it would not change its interest rate target this month. However, the Fed also stated that a recent economic slowdown was transitory, fuelling hopes among investors for future rate rises.

China's service sector expanded at the slowest pace in nearly a year, a private gauge showed on 4 May 2017, pointing to possible softness in the sector. The Caixin China services purchasing managers' index slipped to 51.5 in April--the lowest since May 2016--from 52.2 in March, Caixin Media Co. and research firm Markit said.

China's nationwide factory activity expanded at a slower pace in April, with a private gauge falling to a seven-month low. The Caixin China manufacturing purchasing managers' index dropped to 50.3 in April from 51.2 in March, indicating a slower expansion of activity, Caixin Media Co. and research firm market said on 2 May 2017.

Global Economic News:

Nonfarm payrolls rebound
Friday’s US employment report was fairly upbeat, with 211,000 added to payrolls in April versus a downward revised 79,000 in March. The unemployment rate fell to a 4.4%, a 10-year low, though average hourly earnings were restrained, rising a less-than-expected 2.5%. The report paves the way for likely rate hikes from the US Federal Reserve at its June meeting. The Fed earlier this week held rates steady but said weakness in the US economy in the first quarter was likely transitory.

Macron holds formidable lead ahead of Sunday’s vote
Thirty-nine-year-old centrist Emmanuel Macron, seeking elective office for the first time, looks poised to win the French presidency on Sunday. He leads right-wing populist Marine Le Pen by an average of 20 points in opinion polls. The same polls proved quite accurate in the election’s first round, and showed that Macron bested Le Pen in Wednesday’s head-to-head debate. If Macron wins, as expected, two-round parliamentary elections in June will be critical for his fledgling En Marche! party, which will have to cobble together a working majority to allow Macron to govern effectively.

UK–EU divide widens ahead of negotiations
Explosive media reports this week documenting a meeting on 26 April between Prime Minister Theresa May and European Commission president Jean-Claude Juncker show just how far apart the two sides are before Brexit negotiations begin in earnest. While the United Kingdom hopes to negotiate the terms of its divorce from the European Union and its future trade relations in parallel, the EU has made clear that exit terms must be well on their way to being ironed out before it will entertain trade talks. Also in dispute is how large a bill the UK will have to foot to exit the EU. Numbers as high as €100 billion were floated in the media this week. Prime Minster May will lead her party into elections on 8 June, so the public spat with the EU this week comes at a fortuitous time for her, as it plays well to the anti-EU faction of the UK electorate.

European economy kicks into gear
Economic growth in the Eurozone grew at an annualized pace of 1.8% in the first quarter of 2017, outstripping US growth, which was an anemic 0.7% annualized rate over the same period. Purchasing managers' indices reported this week suggest that European growth might be accelerating further.

Health care reform bill emerges from US House
After months of Republican infighting, a bill to repeal and replace Obamacare emerged from the US House of Representatives this week. The bill will likely face a stiff challenge in the Senate, where lawmakers will attempt to fashion a bill under the so-called reconciliation rule that won’t require 60 votes for consideration. A Senate vote on the measure is expected to be some months away.

GLOBAL CORPORATE NEWS

Largest-ever US municipal bankruptcy for Puerto Rico
Puerto Rico filed for a form of bankruptcy this week. The territory is weighed down by approximately $75 billion in debt, making the filing the largest in US history. Detroit’s $9 billion filing held the previous record. A decade-long recession, a shrinking population and a dramatically underfunded pension system forced the territory to seek protection from creditors.

As of 3 May, 357 of the 500 constituents of the S&P 500 Index have reported earnings for the first quarter. Earnings are expected to increase 14.2% from a year ago. Stripping out energy, earnings growth is 10%. Revenues for the quarter are expected to increase 7.2%. Ex energy, they are seen up 5.3%. The next-twelve-months earnings estimate for the S&P 500 is 17.7x.

NEW 52-WEEK HIGH BSE (A):

 

ALBK

90.30

ANDHRABANK

76.10

ARVIND

426.15

NEW 52-WEEK LOWS BSE (A):

LUPIN

1248.30

RELIGARE

183.00

MAJOR WEEKLY GAINERS IN BSE A CATEGORY(%):

GODREJ PROP

14.00

SREI INFRA

13.92

COROMANDEL INTE.

13.21

CANBK

11.22

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

TATA COMMUNICATION

-11.24

IPCA LABS

-9.62

RELIANCE COMMU

-9.57


Eyes will be set on the certain US economic data releases are:

Monday (08May)

Labor Market Conditions

Tuesday (09 may)

NFIB Small Bussiness

Wednesday (10May)

MBA Mortgage Applications

Thursday (11 May)

Jobless Claims& Fed Balance Sheet

Friday (12May)

Consumer Price Index

Fundamental Pick of the week:

Buy Hindustan Unilever Ltd For Target Rs.1,020.00

Derivative Ideas

* Hindustan Unilever Limited (HUL) is an Indian consumer goods company based in Mumbai, Maharashtra. It is owned by Anglo-Dutch company Unilever which owns a 67% controlling share in HUL as of March 2015 and is the holding company of HUL. HUL's products include foods, beverages, cleaning agents, personal care products and water purifiers.

* On the charts, it has marginally retraced from its 52-week high i.e. 954 and has formed a fresh buying pivot after consolidating in a narrow range.The chart looks upbeat from hereon and we believe that the prevailing momentum will continue ahead as well and expect of making a new record high soon.

TECHNICAL VIEW:

S3

S2

S1

NIFTY

R1

R2

R3

9,150

9,230

9,270

9,285.30

9,365

9,410

9,450


As expected Nifty consolidated and traded in a narrow range of 107 points throughout the week but hits new all time high by 10 points on the back of strong up-move in Banking stocks like ICICI Bank and PSU banks as the new ordinance to resolve the bad loans kept the sector in momentum. The result season was mixed with strong performance from ICICI Bank, HDFC, and Marico while muted results from Biocon, Bharat Finance, Dabur and JSW Energy.  Core sector output rose by 5% in March, recovering from the one-year low growth rate of 1% in February keeping the industrial segment in focus. Global markets also remained flat as FOMC kept the interest rates unchanged, hinting at hikes in the next meeting in June. Commodities continued to remain under pressure with dollar index trading at sub 100 levels.

 Nifty has ended flat down by 0.3% after hitting a new all time high at 9377 reversing the entire week gains on Friday to close at 9,285 levels.  There was sharp profit booking in high beta sectors and stocks during the week. Metals, Energy and Auto declined by 4.1%, 2.8% and 1.5% respectively, while IT and Bank Nifty gained by 1.4% and 1%, respectively for the week. CNX Midcaps and Small cap ended flat to negative after hitting an all time high. 

Conclusion:

We continue to believe markets would consolidate and also expect some correction to fill the gap level which was left near 9,225 levels. It could head for large correction if 9,000 gets broken on the downside as it is a very important level placed since the start of the up move from January 2017.  The option data also continues to suggest a strong support at 9000 with an OI of 50 lakhs shares in put options. On the upside 9400 has the highest OI of 55 lakhs shares in call options.  

Winning your cash in the stock market

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Nowadays you would find that people wish to get themselves involved in extra or part time activities that help them to earn some extra bucks apart from their business or office work. There are some sections of people who try to get involved in the shares and stocks. If you are too willing to invest in the stock market then you should know that you have to understand the different concepts that are associated with the market. There might be times when you would find that you have lost all your money even after getting the right type of research of the market. This is because stock market is full of risks and if you are someone who cannot handle risks in the market then you should not invest in the stock market. There might be times when you would get huge profits from the investment made in the stocks. So here you would be glad to have chosen the right stocks for you in the market. You have to make sure that unless you have all the knowledge of the market, you should not try to invest all your money in the market. So efforts should be taken in order to know how to go for winning your cash in the stock market

 

Can stock market be predicted?

Well you would find some people who try to make some prediction on the stock market. But you should know that one can never predict the stock market. There are some experts who try to make some guesses on the different stocks with the help of fundamental and technical analysis. But here too their prediction is not 100% correct. So you have to make sure that you do not try to make any prediction of the market. There are also some investors who try to have a look at the past performances of the different stocks. But you should know that the performances of the stocks always changes and so you cannot know whether the stock that have shown good performances in the past would continue to do the same today. Therefore the best thing that you can do in order to keep updates of all the latest information of the market is to watch the daily business news or read the daily newspaper. In this way you can keep good track of the market. Well you can also have a look at the stock charts or tables where you would come to know about the positions of the different stocks in the market.         You can also get good knowledge of the stocks by visiting different websites that gives updates on the market and its conditions.

 

Try to understand your investment goal

You should also try to know which type of stocks would be beneficial for you. There are both profitable and non profitable stocks that you can find in the market and so you need to know how to differentiate between these two types of stocks in the market. You have to decide whether to go for long term or short term investment in the market. If you feel that it would be more profitable for you to go for short term investment then you can go for day trading. But before you wish to go for this type of trading you should know the amount of risks that are involved. So you have to keep both your eyes open and look for the best profitable income by investing in the best stocks from the market.

 

Gain good confidence

Gaining good confidence from the market is very important in order to get the right type of stocks in the market. Even if you wish to go for online share trading then you should make sure that you have all the knowledge on how to buy or sell stocks and also how to select the best stocks for you from the market. If you happen to commit a small mistake then you would have to lose all your money. Thus you should always try to know how to go for winning your cash in the stock market

US stocks recover intraday losses as Oil hits 6 month lows, undertone remains cautious as all eyes on jobs data due today with yields rising despite weakness in commodities.

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Indian Indices: Asian indices opened flat as most markets recovered intraday losses yesterday and will trade with caution ahead of the jobs data from the US and weakness in energy stocks. With the Japanese 'Nikkiei' closed for holidays the other markets are seeing huge divergences with the Chinese index losing ground while South Korea and India hitting new highs daily.


Nifty saw a strong break above 9350 with PSU banks and large corporate lenders leading even while commodity stocks lead the decline. Foreign investors selling continues to be a dampener with now 'euphoric' local mutual funds buying sending mid and small cap stocks into extremely stretched valuation zones. For today, expect Nifty to settle around all time highs while mid-cap stocks to continue to outperform with financials being the clear outperformers.


The BSE Sensex is currently trading at 29977.95, down by 148.26 points or 0.49% after trading in a range of 29972.13 and 30176.55. There were 10 stocks advancing against 20 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index declined 0.23%, while Small cap index was down by 0.07%.

The CNX Nifty is currently trading at 9319.65, down by 40.25 points or 0.43% after trading in a range of 9317.05 and 9377.10. There were 17 stocks advancing against 34 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Federalbnk

119.35

6.18

Canbk

409.35

5.22

CentralBak

115.60

5.14

Finolexind

577.00

4.30

Group ATopLosers

 

 

HCC

43.80

-5.71

Tatacomm

668.05

-5.20

Vedl

222.00

-4.50

Hindalco

185.70

-3.48

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29940

30151

Nifty

9320

9365

 

Technical view: Nifty now finds strong support around 9300 while 9400 will be the first resistance on the upside. Bank Nifty is in blue sky territory and can see 23000 where there will be resistance, while 22500 will act as strong support on the downside.


 

Pidilite Industries (BUY Above 740 for Target of 760, Stop Loss at 725): The stock has broken out from a consolidation phase on the daily chart. The breakout has been accompanied with smart increase in volumes. Other oscillators are indicating that the current momentum is likely to prolong. We advise to Buy Pidilite for Target of Rs 760. Keep strict Stop Loss at Rs 725.


Derivative Snippets

Baba Ramdev-led Patanjali clocked a turnover of Rs 10,561 crore in 2016-17 and intends to become the largest Swadeshi company in the next 1-2 years. It aims to double its turnover and will invest about Rs 5,000 crore in setting up five new plants.

In the last trading session, markets continued to surge higher as ICICI Bank shimmered. Nifty Bank Future continued to form long positions as the open interest surged higher along with rising cost of carry. Huge short selling was witnessed in Nifty Bank 22500 monthly expiry put option strike along with long formation in 23000 call option strike, indicating of a continuation of this up trend.

FIIs were net sellers in cash market segment to the tune of Rs 601 Cr.FII’s index future long/short ratio at 4.3x vs 5x.

 

Nifty Movers: The top gainers on Nifty were Asian Paints up by 1.62%, Eicher Motors up by 1.27%, Indiabulls Housing up by 1.11%, Adani Ports up by 1.09% and Coal India up by 1.09%. On the flip side, Hindalco down by 4.13%, GAIL India down by 2.12%, ONGC down by 2.01%, Infosys down by 1.29% and Larsen & Toubro down by 1.27% were the top losers.

 

Top Sectoral& Stock Screening: The few gaining sectoral indices on the BSE were Consumer Durables up by 1.14%, Consumer Disc up by 0.17%, Bankex up by 0.05% and Energy up by 0.04%, while Metal down by 1.75%, Basic Materials down by 1.03%, FMCG down by 0.91%, Capital Goods down by 0.88% and Utilities was down by 0.74% were the top losing indices on BSE.

 

 

On the global front: On the global front, Asian markets were exhibiting mixed trend, with the Chinese market sliding for the fourth consecutive day, approaching near a level that would wipe out all of this year’s gains. The US markets remained in consolidation mood and made another flat closing in the last session.

 

Global Signals: Asian markets were trading mixed; FTSE Bursa Malaysia KLCI rose 3.2 points or 0.18% to 1,761.87, Jakarta Composite increased 8.73 points or 0.15% to 5,678.17 and KOSPI Index was up by 21.57 points or 0.97% to 2,241.24.

On the flip side, Hang Seng declined 287.03 points or 1.16% to 24,396.85, Taiwan Weighted decreased 47.02 points or 0.47% to 9,920.62 and Shanghai Composite was down by 21.27 points or 0.68% to 3,106.10.

 

US indices close flat as Fed leaves rates unchanged, commodities fall sharply as US Dollar gains ground with bond yields trading below 2.3%

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Indian Indices: Asian indices opened flat to mildly negative as US stocks closed almost unchanged after the US Federal Reserve left rates unchanged. Commodities had their biggest fall in recent times with the LME hitting fresh 3 month lows as copper prices plunged to 6 month lows. US Dollar saw return of strength as bond yields fell while oil prices also fell from intraday highs to close flat.

  

Nifty saw very narrow movements on Wednesday as markets lacked direction with 9350 being the proverbial turning point. Foreign investors booked profit while local mutual funds continued to buy with conviction. For today expect range bound trade with stock/sector movements being the order of the day as mid-cap profit booking seems to be on the cards.


The BSE Sensex is currently trading at 30085.00, up by 190.20 points or 0.64% after trading in a range of 30027.41 and 30098.82. There were 22 stocks advancing against 8 stocks declining on the index.

The broader indices too were going neck-in-neck to the benchmarks; the BSE Mid cap index was up by 0.53%, while Small cap index gained 0.57%.

The CNX Nifty is currently trading at 9350.55, up by 38.60 points or 0.43% after trading in a range of 9341.25 and 9361.40. There were 26 stocks advancing against 25 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

IOB

31.60

8.78

ICICIBanK

295.90

8.49

CentralBak

109.90

5.32

Amtekauto

39.85

3.91

Group ATopLosers

 

 

Intellect

132.20

-4.93

Hathway

42.40

-3.42

Vedl

232.35

-3.23

DLF

184.85

-2.94

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29940

30151

Nifty

9320

9365

 

Technical view: Nifty found strong support around 9270 while 9350 acts as resistance, any break either side will see the Nifty move higher or lower. Bank Nifty made lower lows and hit 22240 which should be the support while 22450 will act as minor resistance on the upside. 


 

VIP Industries (BUY Above 210 for Target of 221, Stop Loss at 204.5): After consolidating for over four weeks, the stock has finally broken out from a Symmetrical Triangle Pattern on the daily chart. The price outburst has been accompanied with smart uptick in traded volumes. Even the RSI has reversed from the 60 mark indicating strength in the current price up move. We recommend to buy VIP Industries for target of Rs 221.


Derivative Snippets

Godrej Properties, has sold over 1,000 apartments across three new project launches - Godrej Origins at The Trees in Mumbai, The Suites at Godrej Golf Links in Greater Noida, and Godrej 24 at Hinjawadi, Pune - since March 2017.

In the last trading session, markets ended on a lacklustre note. PSU Banks took center stage as the Government gave positive signals on creation of Bad Bank to deal with NPA issues.Muted action was seen in Nifty option strikes as markets remained flat. Weekly Nifty Bank OTM option strikes remained under selling pressure, indicating of a range bound activity in today’s expiry day trading session.

FIIs were net sellers in cash market segment to the tune of Rs 518 Cr.FII’s index future long/short ratio at 5x vs 5.2x.

Nifty Movers: The top gainers on Nifty were ICICI Bank up by 8.71%, Bank Of Baroda up by 1.90%, Indiabulls Housing up by 1.90%, SBI up by 1.74% and AurobindoPharma up by 1.71%. On the flip side, Hindalco down by 2.49%, Kotak Mahindra Bank down by 1.39%, BPCL down by 1.29%, Tata Motors down by 1.25% and Indian Oil Corp. down by 1.03% were the top losers.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Bankex up by 1.63%, Consumer Durables up by 1.19%, Capital Goods up by 0.74%, Healthcare up by 0.48%, PSU up by 0.47%, while Metal down by 0.93%, Realty down by 0.30%, Oil & Gas down by 0.22%, Auto down by 0.22%, IT down by 0.13% were the losing indices on BSE.

 

 

On the global front:The rupee though has made a marginally weak start against the US dollar after the US Federal Reserve kept interest rates unchanged and also signaled a further rate hike. The domestic steel stocks too are showing signs of strength despite the global metal stocks remaining under pressure amid inventory concerns in industrial metals. The government has approved a new policy that envisages Rs 10 lakh croreinvestment to create more capacity in the steel sector.

 

Global Signals:Most of the Asian markets were in red, Hang Seng decreased 101.43 points or 0.41% to 24,594.70, FTSE Bursa Malaysia KLCI declined by 14.58 points or 0.82% to 1,757.93, Shanghai Composite was lower by 1.6 points or 0.05% to 3,133.75 and Taiwan Weighted was down by 1.48 points or 0.01% to 9,953.85.On the other hand, KOSPI Index was up by 16.1 points or 0.73% to 2,235.77 and Jakarta Composite gained 16.59 points or 0.29% to 5,663.95.

 

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