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Thursday, October 19, 2017

Wish you all a very Happy and Prosperous diwali







Team Indian Market View wishes all our subscribers, followers, friends and well wishers a very



Happy and Prosperous Diwali !!









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Wednesday, October 18, 2017

Oil prices rise after U.S. API reports strong crude inventory draw…




 Oil prices rise after U.S. API reports strong crude inventory draw…


The American Petroleum Institute (API) reported a huge draw of 7.130 million barrels in United States crude oil inventories, compared to an S&P Platts’ survey of analysts that expected inventories would draw down by 3.9 million barrels for the week ending October 13.Gasoline inventories, according to the API, saw a surprise build of 1.941 million barrels for the week ending October 13, against an expected draw of 340,000 barrels. Both WTI and Brent benchmarks were up on Monday on concerns that a US/Iran standoff could disrupt oil supplies, along with internal struggles in Iraqi Kirkuk oilfields as the referendum continues to pit Turkey, Iran, and Iraq governments against the Iraqi Kurds—a volatile situation that could spark a civil war. A further boost to oil prices came as Gulf Coast oil production continued to see significant disruptions through last week caused by Hurricane Nate.


(Source: Investing)








More will update soon!!!

Gold prices up in Asia on hopes for physical demand from India…




 Gold prices up in Asia on hopes for physical demand from India…

Gold prices rose in Asia with hopes for physical demand in India with the festival season well underway and as investor’s eye political risks broadly along with a weaker dollar. Overnight, gold prices fell on Tuesday following a sharp rise in the dollar on better-than-expected economic data and growing speculation that the next head of the Federal Reserve will favour a more aggressive stance on monetary policy. Gold prices continued to fall below a key $1,300 level after the dollar spiked on signs that the U.S. economy is on track for a solid quarter of economic growth.U.S. Import prices for September recorded their biggest increase in more than a year rising 0.7% for month, the Labour Department said. That beat expectations for a 0.5% rise. U.S industrial output rose 0.3% in September as construction and utilities production recovered following the impact of Hurricanes Harvey and Irma last month, the Federal Reserve said on Tuesday. Manufacturing production rose 0.1% in September.


(Source: Investing)








More will update soon!!!

Agro Commodity Update (18th-Oct-2017)




Agro Commodity Update (18th-Oct-2017) 


Fundamental Aspect:


Soybean futures traded moderately lower from last couple of days on fresh selling by the market participants. Weakness in spot prices weighs on futures too. Market participants are expecting lower arrivals in the physical market because of festival season in coming weeks but higher stocks with the oil mills may put further pressure on it. In a press release of SOPA, has estimated 2017-18 (Oct-Sep) soybean output noted at 9.15 mt, down from 11.49 mt a year ago. Moreover, on reports of lower meal exports in September coupled with sufficient arrivals from new season crop is pressurizing the prices. India's soymeal exports during September were at 9,650 tn, down 21% from a year ago. Moreover, huge carryover stocks also weigh on prices. The arrival of soybean during first 10 days of October was 2.91 lakh tonnes which is higher compared to last year arrivals (1.75 lt) for the same period.

Chana futures traded higher from last two trading session on bargain buying and expectation that the MSP may be increased for the new Rabi season. Chana production last year was increase by 32% to 93.3 lakh tonnes (lt) compared to 70.6 lt in the previous year. Moreover, the imports of chana during first four month of FY 2017-18 jumped by 655% to 2.44 lakh tonnes compared to 32,258 tonnes last year for same period.

MCX Cotton futures traded lower mainly on profit booking as recent rains in the cotton growing states may improve production in the country. However, on weekly based the price have closed higher on good demand for new season cotton and reports of improved exports for Indian cotton from the Asian countries. As per the first advance estimates for 2017-18 released by the government, India's 2017-18 (Jul-Jun) cotton output is pegged at 322.7 lakh bales (1 bale = 170 kg), down 2.5% from 330.9 lakh bales in 2016-17.

Turmeric futures traded slightly higher due to wet conditions in the southern peninsula which may affect the production. The export of turmeric is down by 16.4% to 41,517 tonnes for the first 4 month of FY 2017-18 compared to last years’ exports. For 2017-18, turmeric sowing in Telangana, this season down 1.5% to 44,956 hectares as compared to last year acreage of 45,633 hectares.


Technical Aspect (Nov)


Jeera  




Support seen at 18800 and Resistance is at 19200.

Looks weak on chart and any rise close to 19200 will be selling opportunity in it. Break and close below 18800 will take it towards 18550—18300 and then 18100 mark in near term.  

Fresh buying can be initiated above 19200 on closing basis.

Trade safely with levels only.


Turmeric




Our buy call from 7300 to 7550 proven great.

Now what to expect??

Support seen at 7300 and Resistance is 7550.

Rally likely to continue till 7550.Break and close above 7550 will take it towards 7680—7750 and then 7900++ mark in near term else it could touch its support level of 7300.

Trade with levels only.



Castor Seed 




Support at 4550 and Resistance at 4650.

Looks positive on chart and likely to touch 4650. Break and close above 4650 will take it to 4720—4760 and then 4850++ mark else could touch its resistance level of 4550.

Fresh selling can be initiated below 4550 mark.

Trade with levels only.


Guar seed 



Support is at 3750 and Resistance is 3880.

If prices unable to breach its key support of 3750 then we can expect a sharp upside in it till 3880. Break and close above 3880 will take it towards 3940-4000 and then 4120++ mark in near term else it could touch its support level of 3750. 

Fresh selling can be seen below 3750 on closing basis.

Trade with levels only.


Chana 



Our buy call from 5200—5325 proven great.

Now what to expect??

Support seen at 5150 and Resistance is at 5350.

Rally likely to continue till 5350. Break and close above 5350 will take it towards 5440 –5500 and then 5680++ mark in near term.

Fresh selling can be seen below 5150 on closing basis.

Trade with levels only.


RM Seed



Support seen at 3750 and resistance is at 3850.

 Break and close above 3850 will take it to 3920---3960 and then 4000++ mark in days to come else could touch its support level of 3750.

Fresh selling can be initiated below 3750.

Trade with levels only.


Soybean 




Support seen at 2880 and Resistance is 2960--3050

If prices unable to breach its immediate support of 2880 then we can see good upside in it till 2960—3050—3120++ mark in near term.

Fresh selling can be initiated below 2880 only.

Trade with levels only.


CPO 




Support at 530 and Resistance at 538

Trading in a range. Either side decisively break or close will decide further trend in it.

Trade with levels only








More will update soon!!!

Currency Report 18th Oct 2017


Currency Report 18th Oct 2017

Indian rupee, snapping six successive days of gains, depreciated against dollar on Tuesday due to continued bouts of dollar demand from banks and importers. Traders failed to get relief with the report that the International Monetary Fund suggested India to consider setting up an independent fiscal council, saying this institution has contributed to better outcomes in the countries where it has been introduced. The dollar’s gains against some other currencies overseas coupled with lackluster trade in the equity markets also weighed negatively on the market. 

On the global front, dollar strengthened to a one-week high against a basket of major currencies on Tuesday, supported by a rise in Treasury yields following a report US President Donald Trump was edging towards choosing a hawk as the next head of the Federal Reserve.


USDINR 

Support at 64.70 and Resistance at 65.10

Above 65.10 rally remain continue till 65.30—65.55 else could touch its support level of 64.70.

Fresh selling can be seen below 64.70

 Trade with levels only.



GBPINR

Support at 85.70, below 85.70 will take it to 85.35—85.20, else could touch its resistance level of 86.00 mark.

 Fresh buying can be initiate above 86.00



EURINR


Support at 76.40 and Resistance at 76.70

Break and sustain below 76.40 will take it to 76.10—75.90 mark else could touch its resistance level of 76.70

Fresh buying can be initiated above 76.70



JPYINR

Support at 57.80 and Resistance at 58.10

Trading in range either side breakout with volumes will decide further.










More will update soon!!

Update on Nifty levels, Bank Nifty levels, Derivative Outlook and Equity Pick of the day 18th Oct 2017



Update on Nifty levels, Bank Nifty levels, Derivative Outlook and Equity Pick of the day 18th Oct 2017

Nifty 10234 /Sensex 32609/ Bank Nifty 24645

24 Advances / 25 Declines/ 1 Unchanged

* Benchmarks witness consolidation on Tuesday*
Indian equity benchmarks witnessed consolidation with frontline gauges ending almost unchanged on Tuesday, as traders opted to book some of their profit after three days of continuous rally. Markets traded choppy through the session with frontline gauges swinging between green and red for most part of the day, as sentiments remained downbeat on geopolitical tension after North Korea’s deputy U.N. ambassador warned a nuclear war may break out any moment. Traders also remained on sidelines ahead of second quarter results from Wipro and Axis Bank, slated to be released later in the day.  However, traders took some solace with statement of NITI Aayog Vice-Chairman Rajiv Kumar, who has pitched for fiscal stimulus to boost growth with a rider that additional expenditure should be used only for increasing productivity and capital expenditure. He said that faced with slowing economic growth, the industry has been clamouring for a stimulus package from the government.
Some comfort also came with the International Monetary Fund suggesting India to consider setting up an independent fiscal council, saying this institution has contributed to better outcomes in the countries where it has been introduced. Some support also came with Economic Affairs Secretary Subhash Chandra Garg’s statement that getting investment in the infrastructure sector and bankruptcy reforms are the two issues which are on the top of the government's agenda. Besides, the private report stating that India’s foreign reserves, which touched a record $ 402.5 billion in September, are high enough to cushion the country against the external vulnerabilities, also helped the indices to trade in green territory.
On the global front, European markets made cautious start with UK’s FTSE trading flat before inflation data and a testimony by Bank of England Governor Mark Carney later in the day. Asian markets exhibited mixed on Tuesday. Japanese shares extended gains for an 11th straight day as the dollar held gains against the yen and euro and investors remained hopeful that Prime Minister Shinzo Abe will win Sunday’s Lower House election.
Back home, depreciation in Indian Rupee against the US currency dampened sentiments, following continued bouts of dollar demand from banks and importers amid higher dollar overseas. However, private report that WPI inflation is expected to moderate further in the coming months, and is likely to average 2.8% in 2018, lent some support to Indian equity markets. On the sectoral front, mixed reaction was witnessed in pharma stocks on report that the proposed amendment to Drug Price Control Order (DPCO) will put prices of non-scheduled drugs under check, kill competition, and prove negative for industry growth. National Pharmaceutical Pricing Authority (NPPA) and the Department of Pharmaceuticals (DoP) had put forward a proposal that suggests scrapping the current system of fixing the ceiling price of drugs on the National List of Essential Medicines (NLEM) by accepting simple average price of brands having a market share of over 1%.

FII’s Activity 17th-Oct-17

The FIIs as per Tuesday’s data were net buyers in equity and debt segments both, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 5485.70 crore against gross selling of Rs 5311.44 crore. Thus, FIIs stood as net buyers of Rs 174.26 crore in equities.

In the debt segment, the gross purchase was of Rs 1078.00 crore with gross sales of Rs 204.93 crore. Thus, FIIs stood as net buyers of Rs 873.07crore in debt.

Now what to expect ?? 

Image result for happy wednesday

Nifty Levels


Image result for nifty

Close above 10260 will see more upside rally till 10400 and then to 10550---10700 mark else it could test its support level of 10000 again. 

Closed below 10000 will see more downside panic in Nifty. 

Trade within a range

Bank Nifty

Image result for Bank nifty

Above 24900 will see more upside rally till 25050 and then to 25300---25550 mark else it could test its support again. 

Break and sustain below 24400 will see more downside panic till 24000 and then to 23875---23750

Trade within a range

Daily Derivative Outlook 18th Oct 2017


• Nifty (Oct) futures closed at a premium of 19.25 points versus a premium of 25.10 points.

• Maximum call writing seen at 10300, Maximum put writing seen at 10200. 

• Maximum positions are at 10200 CE and 10000 PE. 

• TORNTPHARM (30%), BEML (18%), ZEEL (15%), NBCC (13%) and ACC (13%) were the top gainers in terms of open interest.

• ESCORTS (-7%), BERGERPAINT (-6%), FEDERALBNK (-6%), VEDL (-6%) and ULTRACEMCO (-4%) were the top losers in terms of open interest.

• The Nifty Put Call Ratio (PCR) finally stood at 1.67 for October month contract.


Derivative Idea (19-10-2017)

HEXAWARE gain 7.89% of open interest as long build up on Tuesday’s trade. It is trading above its resistance level of 285.

Now what to expect??

Minor hurdle at 285….Above 285 rally remain continue till 300--310++ mark in days to come. 

Support and stop loss below 275

Current chart pattern and derivatives data suggest that we expect further rally in coming sessions.


Trading Recommendation (18th Oct 2017)

Buy HEXAWARE above 285 Stop loss 275(on closing basis) Target 300—310++.


LIC Housing Finance - Top Pick

As the trading hours came to an end LIC Housing Finance was observed to be priced at Rs. 671.05 which was 10.65 points higher than the day's low and 4.1 points lower than the day's high while the day low was Rs. 660.25 and day high was Rs. 675.50 . 
By this time of the day, a total of 2,381,825 shares were traded with the 5 day average volume being 1,273,115 , 10 day average volume being 1,547,771 and 30 day average volume being 1,634,108 . 
The 5 day average volume fell 170223 stocks, 10 day average volume fell 50177 stocks and 30 day average volume fell 21284 stocks relative to the previous day’s values. 

According to RSI & MACD analysis, LIC Housing Finance is marginally strong

Now what to expect???

On Daily chart, LIC Housing Finance above 675 level. Break and sustain above 675 will see nonstop rally till 690--700++ in weeks to come.

Looks bearish only if close below 660 marks. 
Any sharp downside panic will be buying opportunity in it.


Trading Recommendation (17th Oct 2017) 

Buy LIC Housing Finance above 675 with stop loss below 660 (on a closing basis) Target 690 –700.


Corporate Action


IFCI Limited--AGM


Result Today

NIIT Technologies Limited

UltraTech Cement Limited













More Will Update Soon!!