Update on Nifty levels and Bank Nifty levels of the day 20th April 2017

Nifty 9,103/Sensex 29,336 / Bank Nifty 21,556

26 Advances / 25 Declines/ 0 Unchanged

Indian equity indices unable to gather stem; end on a flat note

Indian stock markets ended the range bound day of trade on a flat note as investors gauged the impact from British Prime Minister Theresa May's surprise decision to hold early elections. There was no major buying in any corner that could lift the markets and traders remained on sidelines ahead of the first-round presidential polls in France this weekend and amid brewing geopolitical tensions. Market participants also remained cautious with the report that IMF trimmed India's annual growth forecast by 0.4 percentage points to 7.2% for 2017, citing the temporary negative consumption shock induced by cash shortages and payment disruptions from the recent demonetization move. Adding the woes, India's largest software services exporter, Tata Consultancy Services (TCS) missed estimates on both the profit and revenue front with negative growth in the BFSI and retail segments. The company's net profit for the Q4 fell 2.5% sequentially to Rs 6,608 crore, while revenues declined 0.3% to Rs 29,642 crore. It's for the second consecutive quarter that it has underperformed Infosys. Further, several banking stocks came under pressure after IndusInd Bank missed estimates on profit front and ahead of Yes Bank earnings later today. IndusInd Bank reported a rise of 21.16% in its net profit at Rs 751.61 crore for the quarter ended March 31, 2017 as compared to Rs 620.35 crore for the same quarter in the previous year. Net Profit was adversely impacted by sharp jump in provisions despite stable asset quality. Provisions and contingencies jumped 101.32% to Rs 430.13 crore in the quarter from Rs 213.66 crore in the same quarter last year. However, sentiments got some support with the repot that India jumped one spot to 8th rank in the 2017 A.T. Kearney Foreign Direct Investment (FDI) Confidence Index. Governance and regulatory issues made up 7 of the top-10 factors that investors consider when deciding on an investment destination according to the report. Some support also came with the report that Foreign institutional investors (FIIs) have pumped in Rs 2618.02 crore in the domestic equity markets in April so far with gross purchases and gross sales of Rs 48894.31 crore and Rs 46276.29 crore, respectively. On a year-to-date basis, they have bought shares worth Rs 42250 crore, as per data available with depository NSDL.

On the global front, Asian markets ended mostly lower on Wednesday as investors fled to safer assets ahead of the French presidential election. France's presidential election is closely watched as the stakes for investors are high, with two anti-EU, anti-euro candidates among the four seen still in contention to make it to a second round two weeks after Sunday's ballot. Further, China's main indexes fell for their fourth straight session on Wednesday, as investor worries deepened that tighter regulations against speculation and shadow banking will hurt the country's credit-fuelled recovery. Shares from Sydney to Seoul also fell, but Japan bounced back from earlier losses as the yen weakened.  Meanwhile, European stocks edged higher in early trade, as investors assessed a stack of earnings reports a day after the market suffered its worst session in five months.

Back home, after getting a weak start, local benchmarks traded in tight range, altering between positive and negative territory, throughout the session and ended on flat note. Finally, the NSE's 50-share broadly followed index Nifty, put single digit cut to settle above the crucial 9,100 support level, while Bombay Stock Exchange's Sensitive Index or Sensex gained around seventeen points and ended above the psychological 29,300 mark. However, broader markets managed a touch better than the larger peers as the BSE's midcap and smallcap indices settled with gains of 0.66% and 0.76% respectively.

FII’s Activity 19-April-17

The FIIs as per Wednesday’s data were net sellers in equity segment, while they were net buyers in debt segment, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 3509.28 crore against gross selling of Rs 4321.43 crore. Thus, FIIs stood as net sellers of Rs 812.15 crore in equities.

In the debt segment, the gross purchase was of Rs 833.72 crore with gross sales of Rs 580.48 crore. Thus, FIIs stood as net buyers of Rs 253.24 crore in debt.

Now what to expect??

Nifty Levels

Support at 9080 and Resistance at 9191—9218.

Below 9080 will see downside correction till 9030---8970

mark else we will see sharp upside rally in it.

Bank Nifty Levels

Support at 21400 and resistance at 21800

Trend Looks weak and could touch its support level of 21400. Close below 21400 will see more downside correction in it else could touch its resistance level of 21800 again.

Trade in a range with levels only.

Results Today

Hindustan Zinc Limited

MindTree Limited

More will update soon!!

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Updates on Bullion, Base Metals and Energy Levels 19th April 2017

Gold futures edged down on MCX as the dollar recovered a bit from a three-week low hit in the previous session, but geopolitical concerns about North Korea and nervousness ahead of the French presidential election lent support to the safe-haven asset. In the direction of strengthen Brexit hand, UK prime minister decided to go into the snap election in June 2017, fuelling the uncertainty across the financial market.

Crude oil futures traded marginally lower on MCX as investors and speculators cut down their bets in the energy commodity on swelling US supplies and slide in Saudi crude exports that was offset by surging production in the country. Crude export in Saudi Arabia declined to 6.96 million bpd during the month of February as compared with 7.7 million bpd reported in the preceding month, whereas its production rises to 10 million bpd in February, up from 9.75 million bpd in January.

 (Later in the day, scheduled EIA inventory will be a key watcher for the trader as it’s expected to come at -0.1M this week against -2.2M noted previously) 

Copper futures traded slightly higher on MCX as speculators built up fresh positions amid rising demand from consuming industries in the domestic spot markets.

Technical Level

Gold 

Support at 29240 and Resistance at 29550

Close below 29240 will drive it to 29150---29080 and then to 28900 mark in days to come else could touch its resistance level of 29550 mark.

Further upside panic will see above 29550 mark.

Silver

Support at 41600---41000 and Resistance at 42500

If unable to breach its resistance level of 42500 then we can expect it to touch its support level of 41600---41000 again.

Trade with levels only

Crude Oil (May)

Support at 3400 and Resistance 3480

Below 3400 it can touch 3320—3280 mark in days to come else could touch its resistance level of 3480 again 

Fresh buying can be initiated above 3480 mark.

Copper

Support at 359 and resistance at 367.

Close below 359 will see sharp downside panic till 353—348 and then to 334 mark else could touch its resistance level of 367 again.

        Further upside rally will see only above 367 mark.

More will be update soon!!

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Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 19th April 2017

Nifty 9,105/Sensex 29,319 / Bank Nifty 21,671

13 Advances / 38 Declines/ 0 Unchanged

Indian equity indices fail to maintain gains; settle with moderate cuts

Indian equity markets showed a volte-face on Tuesday as what started on a promising note ended as a dismal show. The optimism in local markets petered out completely by the end of trade and the indices even drifted in to the negative territory despite getting off to a gap-up opening. Market men were optimistic for most part of the morning session as World Bank in its report said that Indian economy will claw back to 7.2 percent growth this financial year and rise further to 7.5 percent in 2018-19. It also said that timely and smooth implementation of the GST could prove to a significant benefit to economic activity. However, sentiments got spooked in early afternoon trades following the sell-off in European markets as British Prime Minister May called a snap election for June 8, 2017. The shock announcement comes nearly one month after the UK triggered Article 50 to leave the European Union. Besides, profit booking in Realty and Metal counters exerted downside pressure on the frontline indices and dragged them even below to the psychological 9,150 (Nifty) and 29,400 (Sensex) levels. Sentiments wakened further after Indian Meteorological Department (IMD) released its prediction for this year's monsoon and said that monsoon rainfall may be 96% of the normal with an error margin of 5% on either side. IMD also said that there is more than 50% chance of El-Nino developing from August. Monsoon predictions are considered to be vital for Indian economy as agriculture still largely is dependent on the weather phenomenon.

On the global front, Asian equity markets ended on a mixed note on Tuesday as tensions over the situation on the Korean Peninsula softened somewhat following U.S. Vice President Mike Pence's departure from South Korea for Japan. Chinese market ended lower amid worries over increasing regulation and the sustainability of the country's economic growth. Stronger than expected first quarter GDP and March economic data on Monday failed to impress investors, who fear momentum will begin to fade in coming months. Meanwhile, European stocks were in selloff mode in early trade, with commodity shares struggling and investors nervous ahead of the first round of voting in France's presidential election on Sunday. U.K. stocks contributed to the slide, holding to losses following news of an unscheduled statement to be made by U.K. Prime Minister Theresa May.

Back home, the benchmark got off to a positive start in the morning trade as investors were largely influenced by the supportive leads from Asian markets. Thereafter, the indices climbed to intraday highs in late morning session and traded around the psychological 29,700 (Sensex) and 9,200 (Nifty) levels through the morning trades. But the optimism soon started showing signs of easing in late hours of trade and profit booking in few sectors amid drifting European markets weighed down the local bourses by the end of session. Eventually, the NSE's 50-share broadly followed index - Nifty plunged by over quarter percent to settle just above the crucial 9,100 support level, while Bombay Stock Exchange's Sensitive Index - Sensex took ninety-four points cut and closed above the psychological 29,300 mark. 

Moreover, the broader markets succumbed to the selling pressure despite showing positive moves early on and settled with large cuts of over half a percent. The market breadth remained pessimistic, as there were 1112 shares on the gaining side against 1771 shares on the losing side, while 143 shares remained unchanged.

Finally, the BSE Sensex decreased 94.56 points or 0.32% to 29319.10, while the CNX Nifty was down by 34.15 points or 0.37% to 9,105.15. 

FII’s Activity 18-April-17

The FIIs as per Tuesday’s data were net sellers in equity segment, while they were net buyers in debt segment, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 1960.91 crore against gross selling of Rs 2028.18 crore. Thus, FIIs stood as net sellers of Rs 67.27 crore in equities.

In the debt segment, the gross purchase was of Rs 1898.45 crore with gross sales of Rs 418.41 crore. Thus, FIIs stood as net buyers of Rs 1480.04 crore in debt.

Nifty Levels

Support at 9100 and Resistance at 9191—9218.

Below 9100 will see downside correction till 9080--9000 mark else we will see sharp upside rally in it.

Bank Nifty Levels

Support at 21400 and resistance at 21920

Trend Looks weak and could touch its support level of 21400. Close below 21400 will see downside correction in it else could touch its resistance level of 21920 again.

Trade in a range with levels only.

Top Pick

Chambal Fertilisers 

Support at 82 and Resistance at 86

Above 86 will see upside rally till 91---97+++ mark.

Looks weak only if close below 82

Results Today

IndusInd Bank Limited

Yes Bank Limited

More will be update soon!!

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कमोडिटी बाजार : एग्री कमोडिटी : कपास: गुजरात ने उत्पादन अनुमान 4 लाख गांठ से ज्यादा घटा

देश के सबसे बड़े कपास उत्पादक राज्य गुजरात ने मौजूदा कपास सीजन 2016-17 के लिए कपास उत्पादन अनुमान में 4 लाख गांठ से ज्यादा की कटौती की है। मार्केट टाइम्स को यह जानकारी गुजरात कृषि विभाग से मिली है। कृषि विभाग के आंकड़ों के मुताबिक उत्पादन अनुमान में कटौती के बावजूद इस साल राज्य में पिछले साल से ज्यादा कपास का उत्पादन हुआ है। आंकड़ों के मुताबिक इस साल राज्य में 80.50 लाख गांठ (170 किलो) कपास पैदा होने का अनुमान है, इससे पहले जनवरी में कृषि विभाग ने 84.71 लाख गांठ उत्पादन का अनुमान लगाया था। पिछले साल राज्य में 75.40 लाख गांठ कपास का उत्पादन हुआ था।

Source: MarketTimesTv

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कमोडिटी बाजार : एग्री कमोडिटी : जीरा, ग्वार, सरसों सहित दलहन और अनाज के लिए गुजरात का तीसरा अग्रिम अनुमान

रबी और खरीफ सीजन में पैदा होने वाली कई अहम फसलों के सबसे बड़े उत्पादक राज्य गुजरात ने 2016-17 के दौरान फसल उत्पादन को लेकर अपना तीसरा अग्रिम अनुमान जारी किया है, दूसरे अग्रिम अनुमान के मुकाबले कुछएक फसलों के उत्पादन अनुमान में बदलाव हुआ है लेकिन अधिकतर फसलों के उत्पादन अनुमान को वैसा ही रखा गया है जैसा दूसरे अनुमान में था। मार्केट टाइम्स को एक्सक्लूसिवली मिले तीसरे अग्रिम अनुमान के मुताबिक इस साल राज्य में जीरा उत्पादन 2.12 लाख टन, ग्वारसीड उत्पादन 2.42 लाख टन, सरसों उत्पादन 3.47 लाख टन, चना उत्पादन 2.10 लाख टन, तुअर उत्पादन 3.69 लाख टन, कुल दलहन उत्पादन 8.24 लाख टन, गेहूं उत्पादन 29.38 लाख टन और मक्का उत्पादन 8.14 लाख टन होने का अनुमान लगाया गया है। दूसरे अनुमान में जीरा, ग्वारसीड, सरसों का इतना ही उत्पादन होने का अनुमान था, तुअर और चने के उत्पादन अनुमान में नाम मात्र बदलाव किया गया है जबकि गेहूं और मक्का के उत्पादन अनुमान में बढ़ोतरी की गई है।

Source: MarketTimesTv

More will update soon!!

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Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 18th April 2017

Nifty 9,139/Sensex 29,413 / Bank Nifty 21,647

19 Advances / 32 Declines/ 0 Unchanged

Indian equity indices end a lacklustre session with modest cut; broader markets outclass blue-chips

Indian equity markets commenced the week on a sluggish note as the benchmarks showcased an unenthusiastic performance on Monday and settled marginally below the neutral line. The key indices oscillated in an extremely tight range through the session as market participants remained on the sidelines lacking conviction amid the persistent worries over North Korea and coming French elections. Sentiments remained subdued with Reserve Bank of India's report that credit growth plunged to a whopping six-decade low of 5.08% in the financial year 2016-17, as against 10.7% a year ago. Investors also remained cautious with the private report that India's current account deficit (CAD) is expected to widen to 1.6% of GDP this year from 0.5% in 2016, owing to higher commodity prices and an expected strong domestic recovery. According to the report, stronger global demand and higher export prices are driving exports recovery, while the recovery in imports reflects higher commodity prices and likely improvement in domestic demand. Adding the woes, Revenue Secretary Hasmukh Adhia said that services sector is likely to attract a higher tax rate of 18% from the current 15% under the Goods and Services Tax (GST) regime, thus making services "slightly" more expensive.  Ha also said Tax buoyancy is likely to take a hit under the GST regime with the government predicting a very modest 8-9% growth in the indirect tax collections in the first year of GST implementation. In the previous fiscal year, indirect tax collections recorded a growth of 22%. However, downside remained capped with the report that Inflation based on the wholesale price index slipped to 5.70% in March due to easing fuel prices and cost decline of manufactured goods even as food prices hardened. Fuel and power inflation rose 18.16% in March from 21.02% last month. The WPI inflation, reflecting the annual rate of price rise, in February was 6.55%. Some support also came with the report that growth in exports of goods from India reached its peak in the last month of fiscal 2016-17 with a 27.59% increase, year-on-year, to $29.23 billion in March 2017. After two continuous years of decline, exports in April-March 2016-17 posted an increase of 4.71% to $274.64 billion compared to the previous fiscal. Meanwhile, India plans to sell stakes worth $5.4 billion in seven state-run companies during the current financial year as Asia's third-largest economy looks to fund its fiscal deficit amid ramped-up spending on rural areas and infrastructure. The part sale of government stakes in state-run and private firms is critical to meet the fiscal deficit target of 3.2% of gross domestic product in the year to March 2018. India aims to raise Rs 725 billion ($11.26 billion) through stake sale during the year.

On the global front, Asian markets ended mostly lower on Monday as worries over tensions on the Korean Peninsula persist following a failed missile launch by North Korea over the weekend. Further, already bruised by worries over upcoming French elections, global investor sentiment took a further hit on weak U.S. economic data. Though a raft of Chinese economic data earlier in the day beat market expectations, they failed to enthuse investors who had already been optimistic following a recent string of positive numbers out of the country. Similarly, strong March export figures from Singapore did little to lift the dour mood following the central bank's cautionary tone last week. Meanwhile, Chinese shares ended lower, as investors dumped stocks across the board after the country's top securities regulator vowed to 'brandish the sword' and combat market misbehaviors’. However, Japan's Nikkei index edged higher despite the strong yen weighing on exporters and weak US yields dragging down financial stocks.

Back home, after getting a cautious start, the local benchmarks slipped into lower level in late morning trade, tracking weak trade in other regional markets. Thereafter, the indices kept oscillating in a narrow range through the day's trade. Finally, the NSE's 50-share broadly followed index Nifty, suffered eleven points cut to settle below the crucial 9,150 support level, while Bombay Stock Exchange's Sensitive Index, Sensex slipped by around fifty points and closed below the psychological 29,450 mark. However, broader markets managed to outperform the larger peers as the BSE's midcap and small cap indices settled with moderate gains. Meanwhile, shares of Tractor and construction equipment makers have come under pressure on the report that transport offices in most states refused to register these vehicles after the Supreme Court order, which stopped sales of vehicles meeting only BS-III emission standards. The order was not meant for tractors and heavy construction vehicles, which have different emission norms.

FII’s Activity 17-April-17

The FIIs as per Monday’s data were net sellers in equity segment, while they were net buyers in debt segment, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 3233.02 crore against gross selling of Rs 3545.28 crore. Thus, FIIs stood as net sellers of Rs 312.26 crore in equities.

In the debt segment, the gross purchase was of Rs 2180.08 crore with gross sales of Rs 412.55 crore. Thus, FIIs stood as net buyers of Rs 1767.53 crore in debt.

Now what to expect??

Nifty Levels

Support at 9080 and Resistance at 9330--9380.

Above 9250 will see upside rally till 9290 and then to 9330--9380 mark else we will see sharp downside panic in it.

Bank Nifty Levels

Support at 21400 and resistance at 21920

Trend Looks positive and could touch its resistance level of 21920. Close above 21920 will see further upside rally in it else could touch its support level of 21400 again.

Trade in a range with levels only.

Today's Top Pick

Today's Top Pick we will update during market hours.

Result Today

Tata Consultancy Services Limited

More will update soon!!

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Morning Global update: (17/04/17)

Asian Market

Shanghai        3229 (-0.50%)

Nikkei 225       18258 (-0.42%)

Taiwan TSEC     9733 (+0.01%)

CRB   189.30    (+0.21%)

Gold COMEX     $1294.30 (0.45%)

Silver COMEX     $18.62 (0.57%)

WTI Crude        $52.94 (-0.45%)

BRENT Crude   $55.65 (-0.43%)

Dollar Index     100.39 (-0.12)

EURINR  1.0620    (0.02%)

USDJPY  108.25     (-0.36%)

GBPUSD 1.2537    (+0.11%)

 Economic Activity 

Bullion Update 

Violence in Syria and Afghanistan triggered a flight to safety for bullion prices….

 Gold prices hit a fresh 5-month high of $1297 this week as investors continued to rush towards safe haven assets amid rising geopolitical tensions, with the US bombing Syria and Afghanistan, have pushed the bullion prices sharply higher. Last week, the US dropped the largest non-nuclear bomb ever used in a combat, in Afghanistan, killed 36 suspected Islamic State militants. Moreover, the nervousness in the Korean peninsula supported the case for safe haven assets. The geopolitical tension may escalate further between U.S and North Korea as he marked a statement to conduct its sixth nuclear test soon. Beside, US president’s remarks about US dollar & interest rate also stoked upside momentum in precious metals. He told the WSJ that currency getting too strong and he does like lower interest rate.

(Bullion will open higher while energy slightly down)

More will update soon!!

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Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 17th April 2017

Nifty 9,150 /Sensex 29,643 / Bank Nifty 21,686

17 Advances / 34 Declines/ 0 Unchanged

Indian markets prolong the sombre run for second straight session

A session after showcasing a wonderful rally, Indian equity indices faltered and failed to extend the winning momentum on Wednesday as investors turned cautious ahead of key economic data- index of industrial production (IIP) for February and consumer price index (CPI) for March-to be released later in the day. Sentiments remained downbeat over Former finance minister P Chidambaram's comment that a more realistic deadline for rolling out the goods and services tax was October 1, instead of the scheduled date of July 1. While maintaining GST would be good for the country in the long-term, the senior Congress leader cautioned the government saying that implementation of the mega tax reform could be inflationary in the short-term. He cited the preparation time needed for small and medium-scale enterprises to get on to the new tax reform structure and the time needed for activating the GSTN platform as the main reasons why he thought October was a more realistic deadline. Adding the woes, leading exporters' body EEPC India has raised a red flag against the debilitating impact of sharp rise in rupee against dollar in the last three months on exports, which may slip off from the recovery path, if the situation persists further. Since the first week of January, rupee has gained by close to six per cent, eroding significantly the exporters' margins and more importantly the competitive edge against India's trade rivals in the international markets.

On the global front, Asian equity markets made a mixed closing on Wednesday, as tensions continue to ratchet up on the Korean Peninsula following a warning from North Korea of a nuclear attack on the US. Chinese stocks edged lower, as softer producer inflation data raised questions on the sustainability of the country's economic recovery and some shares that had rallied on plans for a new economic zone lost steam. Further, Japanese market declined as rising geopolitical tensions curbed risk appetite, with exporters badly hit as the safe-haven yen spiked to a five-month high. However, a rise in oil prices on reports that Saudi Arabia wants output cuts extended for another six months, supported market sentiments. Meanwhile, European shares edged higher, as uncertainty over the forthcoming French presidential elections calmed down a little.

Back home, after getting a cautious start, the local benchmarks slipped into lower level in late morning session, tracking weak trade in other regional markets. However, the indices recover most of their losses and ended the session moderately lower. Finally, the NSE's 50-share broadly followed index - Nifty plunged by over quarter percent to settle above the crucial 9,200 support level, while Bombay Stock Exchange's Sensitive Index - Sensex took a triple digit cut and closed below the psychological 29,700 mark. The market breadth remained optimistic, as there were 1144 shares on the gaining side against 1756 shares on the losing side, while 136 shares remained unchanged.

FII’s Activity 13-April-17

The FIIs as per Wednesday’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 4649.18 crore against gross sell of Rs 5373.96 crore. Thus, FIIs stood as net sellers of Rs 724.78 crore in equities.

In the debt segment, the gross purchase was of Rs 995.17 crore with gross sales of Rs 1200.41 crore. Thus, FIIs stood as net sellers of Rs 205.24 crore in debt.

Now what to expect??

Nifty Levels

Support at 9080 and Resistance at 9330--9380.

Above 9250 will see upside rally till 9290 and then to 9330--9380 mark else we will see sharp downside till 9080. More and more panic will see only close below 9080 mark.

Bank Nifty Levels

Support at 21400 and resistance at 21800

Trend Looks positive and could touch its resistance level of 21800. Close above 21800 will see sharp upside rally in it.

Fresh selling can initiate only close below 21400

Trade in a range with levels only.

Today's Top Pick

Vakrangee

Support at 325 and Resistance at 334

Above 334 will see upside rally till 344---355+++ mark.

Looks weak only if close below 325

More will update soon!!

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