Update on PSU Banks Technical levels

1. Allahabad Bank

On our blog, we clearly indicated that Albk looks positive above 71.80, our target was 88.00+

Just made high of 88.90

Now what to expect??

Weekly close above 88.0o will see upside rally till 100—110 and then to 140++ mark in weeks to come.

Support intact at 71.80.

2. Andhra Bank

Support at 64 and Resistance at 75

Break and sustain above 75 will take it to 78---80.00 and then to 80.00+ mark in days to come else could touch its support level of 64 again.

3. Bank of Baroda

On 23rd April 2017 We clearly indicated if the future closed above the resistance of 171.5 then our target would be 185--193++. After closing above our given resistance level it has already made a high of 197.

Now what to expect??

Support at 170 and Resistance 197

Break and sustain above 197 it can touch 205—210 and then to 210+ mark, looks weak only if close below 170

4. Bank of India

Earlier we had given a buy call on Bank of India around 163 and booked profit around 167. Trend still looking positive on the chart.

Now what to expect??

Support at 150 and Resistance at 192

Above 192 rally remain continue till 215---220 and then to 220++ else could touch its support level of 150 again.

Further downside panic will see only below 150.00

5. Canara Bank

On 28th April 2017 we had given buy call on Canara Bank around 335 and booked full profit around 350.

On 4th May 2017 We again gave the buy call around 397 and booked profit around 391 on the same day. We are still bullish on the stock.

Now what to expect:

Support at 340 and Resistance at 394

Above 394 rally remain continue till 415 and then to 420++ else could touch its support level of 340 again.

6. IDBI Bank

We clearly indicated if future closes above the resistance of 79.5 then we will see upside rally for our initial targets of 83.--85.5. Above our resistance level the stock has already made a high of 82.5 and still going up.

Now what to expect:

Support at 71 and Resistance at 85

Above 85 rally remain continue till 95-100 and then to 100+ else could touch its support level of 71 again.

7. Oriental Bank

On 26th April 2017 we had given a buy call on Oriental Bank around 161 and rolled over the position to next contract which discounted our buying to 157 which helped us to book a hefty profit when we book our profit around 163.

Now what to expect??

Support at 157 and Resistance at 185

Above 185 rally remain continue till 220 and then to 220 + else could touch its support level of 157 again.

8. PNB

We clearly indicated if the future closes above the resistance of 155 then we will see sharp upside rally. And look what happened, as per our expectations we have seen a rally above our resistance level and it has already made a high of 179.

Now what to expect:

Support at 150 and Resistance at 182

Above 182 rally remain continue till 202-205 and then to 210 + else could touch its support level of 150 again.

9. State Bank of India

We are bullish on the stock since the banking sector has shown rally as it is the largest PSU bank in India, and currently we are minting money on our running buy call.

Now what to expect??

Support at 280 and Resistance at 300

Above 300 rally remain continue till 315-317 and then to 320 + else could touch its support level of 157 again.

10. Syndicate Bank

On 11th April 2017 we clearly indicated the above the resistance of 74 we will see upside rally for our initial targets of 85--92 and look what happened, it has already made a high of 91.

Now what to expect:

Support at 75 and Resistance at 91

Above 91 rally remain continue till 100-107 and then to 107 + else could touch its support level of 91 again.

11. Union Bank

On 28th April 2017 we clearly indicated that above our resistance level of 166 we will see sharp upside rally in the stock and look what happened it has already made a high of 190.

Now what to expect:

Support at 170 and Resistance at 190

Above 190 rally remain continue till 220 and then to 220+ else could touch its support level of 170 again.

More will update soon!! 

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बिजनेस न्यूज़ : वेयरहाउसिंग कंपनी सोहनलाल कमोडिटी को झटका, NMCE ने 30 वेयरहाउस अमान्य किए

देश की दो बड़ी कमोडिटी एक्सचेंजों को वेयरहाउसिंग की सुविधा देने वाली वेयरहाउसिंग कंपनी सोहन लाल कमोडिटी मैनेजमेंट प्राइवेट लिमिटेड यानि SLCM के 30 गोदामों को अमान्य कर दिया है। बुधवार को एक्सचेंज की तरफ से इसको लेकर सर्कुलर जारी किया गया है। सर्कुलर के मुताबिक दिल्ली के 13, गुजरात में कड़ी के 8 और राजकोट के 9 वेयरहाउसों को अमान्य किया गया है।

मार्केट टाइम्स को सूत्रों से मिली जानकारी के मुताबिक SLCM के गोदामों के जरिए एक्सचेंज पर कारोबारियों की पार्टिसिपेशन बहुत कम थी जिस वजह से NMCE ने SLCM के गोदामों को अमान्य करने का फैसला किया है।

बाजार में इस तरह की खबरें भी आ रही है कि NMCE का दूसरे एक्सचेंज ICEX के साथ विलय होने जा रहा है और विलय से पहले दोनो एक्सचेंज अपने उन खर्चों में कटौती कर रहे हैं जिनसे दोनो एक्सचेंजों को लाभ नहीं हो रहा है। इसी कड़ी में NMCE ने SLCM के गोदामों को अमान्य किया है। 

Source: MarketTimesTv

More will update soon!!

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कमोडिटी बाजार : एग्री कमोडिटी : धनिया: NCDEX पर मार्जिन में और 7.5% की बढ़ोतरी, गोदाम में माल रखने पर अतीरिक्त चार्ज की लिमिट में भी बदलाव

धनिया की कीमतों में आ रही एकतरफा गिरावट को देखते हुए कमोडिटी एक्सचेंज NCDEX ने इसपर और भी ज्यादा मार्जिन लगाने का फैसला किया है, एक्सचेंज ने पहले बुधवार को धनिया में बिकवाली पर 7.5 फीसदी स्पेशल मार्जिन लगाने की घोषणा की थी लेकिन इसके बावजूद गुरुवार को फिर से धनिया में निचला सर्किट देखने को मिला, अब एक्सचेंज ने एक बार फिर से बिकवाली पर और 7.5 फीसदी स्पेशल मार्जिन लगाने का ऐलान किया है। नया 7.5 फीसदी मार्जिन सोमवार यानि 8 मई से लागू होगा।

एक्सचेंज ने इसके अलावा गोदामों में रखे जाने वाले धनिया पर लगने वाले अतीरिक्त चार्ज की लिमिट में भी बदलाव किया है। अबतक गोदामों में रखने जाने वाले 2000 टन से ऊपर के धनिया पर अतीरिक्त चार्ज लगता लेकिन 8 मई से 1,000 टन से ऊपर के धनिया पर अतीरिक्त चार्ज की लिमिट लागू होगी।

इस हफ्ते वायादा बाजार में धनिया की कीमतों में एकतरफा गिरावट देखने को मिली है, बीते 3 दिन से रोजाना धनिया निचले सर्किट के साथ बंद हो रहा है, महज 3 दिन में भाव 700 रुपये  प्रति क्विंटल से ज्यादा घट चुका है, पिछले शुक्रवार को NCDEX पर धनिया 6,567 रुपये प्रति क्विंटल पर बंद हुआ था और गुरुवार को भाव घटकर 5,860 रुपये प्रति क्विंटल पर आ गया है। महीनेभर में तो इसकी कीमतों में 2,000 रुपये से ज्यादा की गिरावट आ चुकी है। 

Source: MarketTimesTv

More will update soon!!

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Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 5th May 2017

 Nifty 9,359/ Sensex 30,126/ Bank Nifty 22,720

26 Advances / 24 Declines/ 1 Unchanged

Sensex slams double century; Nifty ends above 9,350 mark

A session after displaying a distressing performance, Indian equity indices have managed to pull through a dazzling performance by gaining over half a percent on Thursday, thanks to encouraging corporate earnings and a string of government reforms, including NPA package for banks and national steel policy. The government has approved a new policy that envisages Rs 10 lakh crore investment to create more capacity in the steel sector. The policy aims at increasing supply of domestic coking coal to cut dependence on imports by half and production of 300 million tonnes of the alloy by 2030-31. Investors' sentiments also got boost after the US Federal Reserve kept its policy rate unchanged in its two-day policy review. Some support also came with the report that services sector grew for the third straight month in April 2017, though the pace of growth moderated amid slower rise in new business and employment. The Nikkei India Services Purchasing Managers' Index (PMI), which tracks services sector output on a monthly basis, was down from 51.5 in March to 50.2 in April, indicating challenging market conditions that hampered growth. A reading above 50 on the index denotes expansion, while one below the benchmark indicates contraction. Meanwhile, shares of PSU banks surged after Cabinet approved new non-performing assets (NPA) policy to deal with stressed assets. The framework includes the promulgation of an ordinance to amend the Banking Regulation Act to give more teeth to the Reserve Bank of India (RBI) and its oversight committees to act on behalf of banks while deciding on NPAs. The proposals are now awaiting the President's assent. Moreover, Bank Nifty ended record high, supported by ICICI Bank that rallied over nine percent post earnings.

On the global front, Asian equity markets ended mixed on Thursday, as investors turned cautious after the US Federal Reserve left interest rates unchanged overnight as expected, but signalled another rate hike is imminent despite recent economic weakness. The Federal Reserve on Wednesday voted unanimously to leave its benchmark interest rate at 0.75% to 1% and continues to project two more rate hikes in 2017. Further, the looming monthly US jobs report and a possible House vote on the American Health Care Act also kept investors on tenterhooks. Chinese markets edged lower after a private survey showed China's service sector activity expanded at a slower rate in April, raising concerns over growing economic risks. The Caixin services PMI slipped to 51.5 in April, the lowest since May 2016, from 52.2 in March. Meanwhile, European stocks rose as a raft of better-than-forecast results from companies including HSBC Holdings Plc, Anheuser-Busch InBev NV and Royal Dutch Shell Plc added to optimism over an earnings recovery in the region. Sentiments got some support after centrist French presidential candidate Emmanuel Macron was perceived to have gotten the better of the far-right's Marine Le Pen in a debate and a survey showed economic growth in the 19-country eurozone striking a six-year high.

Back home, after getting a solid start, the local benchmarks traded in tight range for most part of the morning trade, but witnessed a strong buying in second half of the session post firm opening of European markets. Eventually, the NSE's 50-share broadly followed index Nifty, convalesced by over half percent to settle above the crucial 9,350 support level, while Bombay Stock Exchange's Sensitive Index, Sensex accumulated over two hundred points and closed above the psychological 30,100 mark. Moreover, the broader markets too participated in the rally and closed with gains of around half a percent. The market breadth remained optimistic, as there were 1453 shares on the gaining side against 1406 shares on the losing side, while 146 shares remained unchanged.

FII’s Activity 4th-May-17

The FIIs as per Thursday’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 4033.05 crore against gross selling of Rs 4126.52 crore. Thus, FIIs stood as net sellers of Rs 93.47 crore in equities.

In the debt segment, the gross purchase was of Rs 492.67 crore with gross sales of Rs 339.69 crore. Thus, FIIs stood as net buyers of Rs 152.98 crore in debt.

Now what to expect next??

Nifty Levels

Support at 9240 and Resistance at 9380---9450.

Above 9330 rally remain continue till 9380---9450 mark

Close below 9240 will take to 9180---9130 mark.

 Major support intact at 9080

Bank Nifty Levels

Support at 22200 and resistance at 22800

Trend Looks positive and could touch its resistance level of 22800 

Weekly close above 22800 will see further upside rally in it else could touch its support level of 22200 again.

Trade in a range with levels only.

Today's Top Pick

Will provide only on our Application during market hours.

Result Today

Apollo Tyres Limited

NIIT Technologies Limited

Equitas Holdings Limited

Eicher Motors Limited

More will update soon!!

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