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Tuesday, June 20, 2017
कमोडिटी बाजार : एग्री कमोडिटी : अगले 5 दिन उत्तर भारत में अच्छी बारिश
कमोडिटी बाजार : एग्री कमोडिटी : धनिया पर मार्जिन कम करने की खबर से गिरावट पर ब्रेक
Source: MarketTimesTv
More will update soon!!
Technical Observations
GBPUSD (cmp $1.2696)
GBP against USD witnessed a sharp recovery from 1.1450 to 1.3051 during Oct ’16-May’17 and again turned down and breached its crucial trend line support of $1.2750. Pair traded with clear negative tone from last couple of days as we mentioned in our last blog too. Now the initial support seen at $1.2650 and sustained move below this level will confirm the continuation of the bearish phase that target looks $1.2360 and then expecting to touch recent bottom of $1.2106 mark. The bearish trend scenario will remain valid efficiently until it is trading below the same. Pair traded below its 50 DMA that keeps pushing the price to the downside. Holding below 1.2650 is important for the continuation of the suggested decline. Alternatively, on the higher side hurdle is $1.2820 and close above the same will turned our outlook towards bullish phase. MACD & RSI indicators both are showing that buying momentum is now changing to selling momentum
Expected trend for near term: (Bearish)
Recommendation
Sell GBPUSD below $1.2650.Stop loss above $1.2820.Target $1.2360---$1.2106.
More will update soon!!
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Currency Report 20th June 2017
Rupee strengthens a bit against dollar on Monday
Indian rupee, after making a good start, gave away most of its gains and ended a bit stronger against dollar on Monday, on account of dollar selling by banks and exporters. Local currency got some support with Finance Minister Arun Jaitley’s statement that India will launch a new national Goods and Services Tax (GST) as planned on July 1 and gave return filing breather to India Inc for two months. The rupee sentiments were also buoyed by firm equities, but the dollar's strength against other currencies overseas restricted the rupee's gains. On the global front, dollar steadied against a basket of currencies on Monday, as investors awaited comments by a top Federal Reserve official for clues on whether recent strength can be sustained.
USDINR (June)
Support at 64.30 and resistance at 64.60
Break and sustain above 64.60 will take it to 64.75—64.90 and then to 65.10 mark, else could touch its support level of 64.30 mark.
Fresh selling can be initiated below 64.30
GBPINR
Support at 82.30 and Resistance at 82.50
Break and sustain below 82.30 will take it to 82.10—81.95 mark else could touch its resistance level of 82.50 mark
Fresh buying can be initiated above 82.50 mark.
EURINR
Support at 72.00 and resistance 72.40
Trading in range either side breakout with volumes will decide further.
JPYINR
Below 57.95 panic remain continue till 57.60—57.30 and then to 57.00 mark.
Hurdle intact at 58.35
More will update soon!!
Technical Pick– Godrej Industries
Technical View – Godrej industries
Observation
• Godrej industries is finding support at 630 and resistance at 650. On Daily chart.
• On Daily chart, Godrej industries trading above 21 and below 55 days moving average which is at 641 and 633 respectively.
• Daily 14 period RSI has turned up from near 61 levels. As per the bullish high low theory of 40-70 levels, the weekly RSI is expected to move up to 70-75 levels from the current reading of 61. This could mean continuation of upside momentum in the stock price ahead.
• Break and sustain above 650 on closing basis will see nonstop rally in Godrej industries till 670---690++ in weeks to come.
• We believe the stock has the potential to move higher in the coming weeks as bullish breakout will be seen above 650 level.
Trading Recommendation
Buy Godrej industries in cash above 650 for the initial upside target of 670—690++ mark with stop loss below 630 on closing basis.
Buy Godrej industries in cash above 650 for the initial upside target of 670—690++ mark with stop loss below 630 on closing basis.
More will update soon!!
Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 20th June 2017
Nifty 9,657 /Sensex 31,311 / Bank Nifty 23,742
33 Advances / 17 Declines/ 1 Unchanged
Sensex closes at record high; Nifty recaptures 9650 mark
Indian equity indices commenced the week on an optimistic note as the benchmarks showcased an energetic performance on Monday and settled with gains of around three fourth of a percent. Investors continued to build hefty positions across the board as sentiments got a boost after Finance Minister Arun Jaitley said India will launch a new national Goods and Services Tax (GST) as planned on July 1 and gave return filing breather to India Inc for two months. Adding optimism among investors, the industry body Confederation of Indian Industry (CII) said India Inc is ready for the implementation of the GST from July 1, as the new indirect tax regime will contribute significantly towards economic growth, job creation and exports expansion. Besides, firm global cues, after French President Emmanuel Macron's party won a parliamentary majority at the weekend, too added to the optimistic sentiments.
Some support also came with the report that Net income tax collection grew at a healthy 26.2% to Rs 101,024 crore from across the country as of June 15 this fiscal from Rs 80,075 crore in the year ago period. Meanwhile, lenders such as State Bank of India gained after the central bank asked banks to start banktruptcy process against 12 large loan defaulters, raising hopes that reduction of bad debt will start to quicken. Also, Capital market regulator SEBI is again extending a helping hand to the government and the RBI in their fight against bad loans. According to the reports, Securities and Exchange Board of India is planning to ease the acquisition rules to allow investors to buy distressed assets from banks.
On the global front, Asian equity markets ended mostly higher on Monday as weaker than expected US housing and consumer sentiment data tempered expectations for a spate of interest rate increases this year. Chinese shares ended higher as liquidity conditions have eased and data showed the property market continued to stabilize in May after stricter measures to curb demand. Further, Japanese shares hit two-week highs amid yen weakness as data showed Japan saw a surprise trade deficit in May because of a rise in imports. Meanwhile, European markets were trading higher in early trade, as markets geared up ahead of Brexit negotiations between the UK and the European Union, and as French President Emmanuel Macron's party won a parliamentary majority at the weekend.
Back home, after getting a firm start, the local benchmarks maintained their gains through the morning trade and extended it in late afternoon to end near day’s high levels. Finally, the NSE’s 50-share broadly followed index, Nifty jumped over half a percent to settle above the crucial 9,650 level, while the Bombay Stock Exchange’s Sensitive Index, or Sensex garnered over two hundred and fifty points to scale over the psychological 31,300 mark. Further, the broader markets underperformed their larger peers by a fat margin as the BSE’s midcap index went home with gains of 0.07%, while the small cap index declined by 0.08%. The market breadth remained pessimistic, as there were 1197 shares on the gaining side against 1468 shares on the losing side, while 194 shares remained unchanged.
FII’s Activity 19-June-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 7994.39 crore against gross selling of Rs 8688.50 crore. Thus, FIIs stood as net sellers of Rs 694.11 crore in equities.
In the debt segment, the gross purchase was of Rs 2384.50 crore with gross sales of Rs 1351.01 crore. Thus, FIIs stood as net buyers of Rs 1033.49 crore in debt.
Now what to expect next??
Nifty Levels
Above 9680 will see rally till 9730---9775 mark. Those are holding long can revise stop loss at cost to cost.
Panic will see only close below 9580 level only
Bank Nifty Levels
Above 23680 will see further upside rally till 23750---23900 and then to 24400+++ mark.
Fresh downside panic will see only close below 23350 mark.
Trade with levels only
Today's Top Pick
FSL
Support at 31 and Resistance at 34
Above 34 will see upside rally till 37--42++ mark in days to come.
Looks weak only if close below 31
ICICI Bank Limited-
Annual General Meeting/Dividend - Rs 2.50 Per Share/Bonus 1:10 (Revised)
Allahabad Bank- Annual General Meeting
More will update soon!!
Monday, June 19, 2017
Updates on Bullion, Base Metals and Energy Levels 19th June 17
Gold futures edged lower on Monday on a firm dollar as markets awaited comments by a top Federal Reserve official for clues on whether recent strength can be sustained, after last week's soft economic data. US homebuilding fell for a third straight month in May to the lowest level in eight months as construction activity declined broadly, suggesting that housing could be a drag on economic growth in the second quarter.
Crude oil futures traded marginally lower on MCX as investors and speculators exited their positions in the energy commodity, in line with a weak trend in Asian trade after a fourth weekly loss on speculation that a record expansion by US drillers will blunt OPEC-led efforts to rebalance an oversupplied market. Further, faltering demand too prompted weakening sentiment.
Copper futures edged higher on MCX as participants widened their bets, taking positive cues from the spot market on pick-up in demand.
Technical Level
Gold
Support at 28550 and Resistance 28700
Close below 28550 will take it to 28400—28250 mark. If unable to breach its support level then it can touch its resistance level of 28700 again.
Further upside rally will see above 28700 mark.
Silver
Support at 38200 and Resistance at 38700
Close below 38200 will take it to 37700 mark else could touch its resistance level of 38700 again
Fresh buying can be initiated above 38700 mark.
Crude (July)
Support at 2880 and Resistance at 2930
Trading in range either side breakout with volumes will decide further.
Natural Gas
Support at 186.00 and Resistance at 195
Looks weak and could touch its support level of 186.00. Close below 186.00 will take it to 182---178 mark else could touch its resistance level of 195.00
Fresh buying can be initiated above 195.00 mark.
Copper
Above 368….. Rally remain continue till 372---375 and then to 380+++ mark in days to come.
Support intact at 363 mark
More will update soon!!
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