Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 10th February 2017

Nifty 8778/Sensex 28329/ Bank Nifty 20151

28 Advances / 22 Declines/ 1 Unchanged

Indian markets settle with moderate gain

After trading on a feeble note for most part of the session, Indian benchmark indices managed to negotiate a close in the green terrain, as investors showed renewed buying interests in information technology, Consumer Durables and Realty counters. Investors got some comfort with RBI governor’s statement that there is further scope for banks to reduce lending rates as the Reserve Bank has already brought down its policy rates by 175 basis points since January 2015. Some support also came with Economic Affairs Secretary Shaktikanta Das’ statement that India will be able to pull off a 7% plus growth rate next fiscal as the Budget for 2017-18 has come up with several measures to provide a fillip to various sectors. 

Further, rejecting arguments that fiscal deficit target of 3.2% is optimistic, he said it is realistic and there is all possibility that revenues will exceed the target, as Budget has not taken into account the demonetisation windfall. However, gains remained capped on report that foreign portfolio investors (FPIs) sold shares worth a net Rs 127.69 crore on February 08, 2017. Adding the anxiety among market participants, RBI’s bi-monthly survey on consumer confidence indicate that Indian households are less confident of their current economic situation as people are uncertain about their immediate income, employment and spending capabilities. 

Meanwhile, banking stocks declined as RBI held repo rates at 6.25% for the second time in a row, changing its stance to 'neutral' from 'accommodative'. On the other hand, IT stocks gained traction as global IT major Cognizant has guided for a revenue growth of $3.51 billion to $3.55 billion for March quarter. The company expects March quarter non-GAAP diluted EPS to be at least $0.83 per share.

On the global front, Asian markets ended mostly higher on Thursday as investors grew more confident about China due to an ongoing commodity price rally along with Beijing's gentle monetary tightening, via money-market rates. Trading volumes remained rather thin in the wake of growing concerns over political instability in Europe and lingering uncertainty over US President Donald Trump's policies. However, ignoring better-than-expected core machinery orders data, Japan's Nikkei share average ended lower due to pressure from a stronger yen ahead of a meeting this week between US President Donald Trump and Japan's Prime Minister Shinzo Abe. 

Reports showed Japan's Core machinery orders rose 6.7 percent in December from the previous month, beating forecasts for an increase of 3.1 percent. Meanwhile, European markets were trading marginally higher as investors maintained caution amid rising political uncertainty.

Back home, after getting a gap up start, the local benchmarks showed some strength in early trades, but the sentiments turned pessimistic in late morning trades and indices start drifting lower, however the market regained its momentum in the final hour of trade and finished the day in positive territory

FII’s Activity 09-Feb-17

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

In equity segment, the gross buying was of Rs 4468.40 crore against gross selling of Rs 4656.66 crore. Thus, FIIs stood as net sellers of Rs 188.26 crore in equities.

In the debt segment, the gross purchase was of Rs 1560.80 crore with gross sales of Rs 2235.08 crore. Thus, FIIs stood as net sellers of Rs 674.28 crore in debt.

Key Result

Alkem Laboratories Ltd

Balkrishna Industries Ltd

Bank of Baroda

BEML Ltd

Berger Paints India Ltd

Bombay Burmah Trading Corporation Ltd

Bosch Ltd

CESC Ltd

Chambal Fertilisers & Chemicals Ltd

Corporation Bank

Crompton Greaves Ltd

Deepak Fertilizers & Petrochemicals Corp Ltd

Dena Bank

Elgi Equipments Ltd

Engineers India Ltd

Eros International Media Ltd

GAIL (India) Ltd

Hindustan Copper Ltd

Hindustan Zinc Ltd

Ipca Laboratories Ltd

J B Chemicals & Pharmaceuticals Ltd

Jagran Prakashan Ltd

Jaiprakash Associates Ltd

JBF Industries Ltd

Mahindra & Mahindra Ltd

Max Financial Services Ltd

Praj Industries Ltd

Radico Khaitan Ltd

Rashtriya Chemicals & Fertilizers Ltd

Reliance Capital Ltd

Sequent Scientific Ltd

SML ISUZU Ltd

SRF Ltd

State Bank of India

Sun TV Network Ltd

Suzlon Energy Ltd

Symphony Ltd

Tamil Nadu Newsprint & Papers Ltd

Tata Power Company Ltd

Techno Electric & Engineering Company Ltd

Welspun Corp Ltd

Now what to expect next??

Nifty Levels

Support 8720 and resistance at 8850

Looks positive and could touch its resistance level of 8850, break and sustain above 8850 will take it to 8900—8950 and then to 9000+ mark in days to come else could touch its support level of 8720 again.

Fresh selling can be initiated below 8720 mark.

Trade with levels only

Bank Nifty Levels

Bank Nifty unable to breach its resistance level and crashed vertically.

Now what to expect???

Support at 19900 and resistance at 20650

Trend still looks positive and could touch its resistance level of 20650, further upside rally will see on close above 20650 else could touch its support level of 19900

Looks weak only below 19900

Today's Top Pick

Voltas

Yesterday we have seen sharp upside move in Voltas. Now it has support at 336 and resistance at 346.

Above 346 will see further upside rally till 355—358 and then to 365+ mark

Support and stop loss below 336 on closing basis.

More will update soon!!

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Updates on Bullion, Base Metals and Energy Levels 09 Feb 2017

Gold futures ended higher on Wednesday as political risks posed by elections in Europe and worries over US President Donald Trump's policies stoked safe haven demand. Meanwhile, it appears the Federal Reserve will keep interest rates on hold until Trump offers more specifics on his plan to cut taxes and spend on infrastructure.

Crude oil futures ended modestly higher despite data on crude oil inventories from the Energy Information Administration (EIA) showing a massive build and the third straight weekly increase. EIA reported that crude oil inventories in the U.S. jumped by 13.5 million barrels at the end of last week. However, gasoline stockpiles unexpectedly fell, signalling that demand for crude oil will rise in the coming weeks. Gasoline stocks fell 869,000 barrels and crude stocks at the Cushing, Oklahoma, and delivery hub for US crude futures rose 1.1 million barrels.

Copper futures ended higher on Wednesday, boosted by supply concerns after miner BHP Billiton said it would halt output at the world´s biggest copper mine during a strike set to begin this week. Meanwhile, Freeport-McMoRan warned it would scale back activities at its Grasberg copper mine in Indonesia due to labour unrest. The company has also said it would cut production if it did not receive a new export permit by mid-February.

Technical Level

Gold 

Support at 29240 and resistance at 29420---29600.

Traders can trade in a range with strict stop loss and wait for confirmation.

Trade with levels only

Silver

Support at 42000 and Resistance at 42600

Close above 42600 will take it to 43300---43800+++ mark else could touch its support level of 42000 again.

Fresh selling can be initiated below 42000 mark

Crude oil

Crude unable to breach its support level of 3430 and bounced back sharply. We recommended buying arund 3500---3480 mark.

Now what to expect??

Support at 3480---3430 and Resistance at 3600

Looks positive and could touch its resistance level of 3600. Weekly close above 3600 see further upside rally in it else it could touch its support level of 3480---3430 again.

Looks weak only below 3430 mark.

Traders can buy and accumulate Crude oil in panic around 3480 with strict stop loss below 3430 mark. 

Copper

Below 394... Panic remain continue till 389---386.

Fresh buying can be initiated only close above 401 mark.

Major Economic Data

07:00 P.M Unemployment Claims:  Previous 246k Forecast 249k, Actual –??

Impact – Increase in Unemployment Claims – will have positive impact on bullion and negative impact on base metals and dollar index or vice – versa.

09:30 P.M Natural Gas Storage:  Previous -87B, Forecast -155B, Actual –??

Impact – Increase Natural Gas Storage – will have negative impact on natural gas prices or vice versa.

More will update soon!!

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कमोडिटी बाजार : एग्री कमोडिटी : मक्का: चीन में आयात 75% घटने का अनुमान, भाव पर दबाव मुमकिन

दुनियाभर में मक्का के बड़े आयातक देश चीन में इस साल मक्का के आयात में भारी कमी आने का अनुमान लगाया गया है। चीन के कृषि मंत्रालय की ओर से जारी किए गए अनुमान के मुताबिक सितंबर में खत्म होने वाले फसल वर्ष 2016-17 के दौरान चीन में मक्का आयात सिर्फ 8 लाख टन होने का अनुमान है, इससे पहले पिछली रिपोर्ट में 10 लाख टन आयात का अनुमान था।

2015-16 फसल वर्ष के दौरान चीन ने करीब 32 लाख टन मक्का का आयात हुआ है, यानि इस साल चीन में आयात में करीब 75 फीसदी की गिरावट आने का अनुमान है। चीन मक्का का बड़ा आयातक है और वहां पर अगर कम आयात होता है तो इससे वैश्विक बाजार में मक्का की कीमतों पर दबाव आ सकता है जिसका असर घेरलू मार्केट पर भी दिख सकता है।

फिलहाल लंबे समय से घरेलू बाजार में मक्का की कीमतों पर दबाव बना हुआ है, कमोडिटी एक्सचेंज NCDEX पर इसका भाव घटकर 1,450 रुपये प्रति क्विंटल तक आ चुका है।

Source: MarketTimesTv

More will update soon!!

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बिजनेस न्यूज़ : नकद लेनदेन पर कर लगाने के बारे में अभी कोई निर्णय नहीं: दास

वित्त मंत्रालय के एक अधिकारी ने आज कहा कि 50,000 रपये अथवा इससे अधिक नकद लेनदेन करने पर बैंकिंग नकद लेनदेन कर (बीसीटीटी) लगाने के बारे में कोई निर्णय नहीं लिया गया है। मुख्यमंत्रियों की उच्चस्तरीय समिति ने नकद लेनदेन की सीमा तय करने और एक सीमा से अधिक नकद लेनदेन पर कर लगाने की सिफारिश की है। आर्थिक मामलों के सचिव शक्तिकांत दास ने कहा कि इस बारे में अभी कोई निर्णय नहीं किया गया है। एसोसियेटिड चैंबर्स ऑफ कॉमर्स एंड इंडस्ट्री (एसोचैम) के वार्षिक सम्मेलन को संबोधित करते हुए दास ने कहा, कुछ सुझाव आए हैं (नकद लेनदेन पर कर लगाने के बारे में) सरकार ने मुख्यमंत्रियों की समिति के सुझाव पर कोई निर्णय नहीं लिया है। सरकार रिपोर्ट का सावधानीपूर्वक अध्ययन करेगी और उचित फैसला लेगी।

आंध्र प्रदेश के मुख्यमंत्री चंद्रबाबू नायडू की अध्यक्षता में डिजिटलीकरण पर गठित मुख्यमंत्रियों की समिति ने नकद में होने वाले सभी तरह के बड़े लेनदेन में नकदी के इस्तेमाल की सीमा तय करने और 50,000 रुपए से अधिक के नकद लेनदेन पर शुल्क लगाने की सिफारिश की है। 

दास ने अगले वित्त वर्ष में आर्थिक वृद्धि की दर सात प्रतिशत से अधिक रहने की उम्मीद जताई है। कार्पोरेट की दरों में कमी की योजना पर उन्होंने कहा कि कार्पोरेट कर दर में एक झटके में कमी नहीं की जा सकती है यह काम चरणबद्ध तरीके से होगा क्योंकि इसके साथ कई मसले जुड़े हैं। दास ने कहा, दो साल पहले वित्त मंत्री ने घोषणा की थी कि कार्पोरेट कर दरों को कम किया जाएगा, लेकिन सरकार के समक्ष कुछ राजकोषीय परेशानियां हैं। एक झटके में कर दर को घटाकर 25 प्रतिशत करना मुश्किल है क्योंकि इसका वित्तीय खामियाजा काफी अधिक होगा। ऐसे में सरकार अर्थव्यवस्था के दूसरे क्षेत्रों के साथ न्याय नहीं कर पाएगी। उन्होंने कहा कि सरकार के विभिन्न नीतिगत उपायों के बाद अगले वित्त वर्ष में आर्थिक वृद्धि दर सात प्रतिशत से अधिक रह सकती है।

Source: MarketTimesTv

More will update soon!!

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