Wednesday, 24 May 2017

Nifty to open gap up by 22 points at 9410: Dynamic Levels

Nifty to open gap up by 22 points at 9410.50 against yesterdays close of 9388.45 as per SGX Nifty, says Dynamic Levels.

Small Cap Index At 1 Month Low, GST Benefitting Sector Stocks In Focus

Indian Market Outlook: Yesterday, the benchmark Index Nifty opened at 9445 made a high of 9448 and closed at 9387 after making a low of 9370. Selling pressure was witnessed after a flat opening. The Index is trading at its one week low of 9390.

Bank Nifty traded weak throughout the day. The Index made a high of 22740 and closed at 22583 after making a low 22492.

Small cap Index opened at 7279 and closed at 7078 afetr making a low of 6996. The Index is trading at its monthly low of 7007 which is a crucial support.

Nifty to open gap up by 22 points at 9410.50 against yesterdays close of 9388.45 as per SGX Nifty.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Tuesday, 23 May 2017

Nifty to open gap up at 9477, gain of 32 points: Dynamic Levels

Nifty to open gap up by 32 points at 9477.50 against yesterday's close of 9445 as per SGX Nifty, according to a report by Dynamic Levels.

Market is expected to trade range bound due to lack of any major triggers

Indian Market Outlook: Yesterday, the benchmark Index Nifty opened at 9480 made a high of 9499 and closed at 9438 after making a low of 9428. Selling pressure was witnessed after a gap up opening.

FMCG stocks led the pack of gainers, while PSU banks and pharma led the losers. FMCG stocks extended their rally for the second straight session on Monday, surging up to 14 percent, after the GST Council finalised rates for bulk of the items last week.

Shares of LT Food soared 13.84 percent, ITC (6.21 percent), Venkys (5 percent), Kohinoor (4.34 percent), Marico (1.79 percent), Britannia (1.31 percent), HUL (1.07 percent) and Dabur (0.54 percent).

Bank of India was down by 10.96 percent after the bank posted dismal numbers. State Bank was down 4.42 percent while Lupin and Divis Lab lost 4.42 percent and 3.3 percent each.

Bank Nifty traded weak throughout the day. The Index made a high of 22918 and closed at 22653 after making a low 22638.

Small cap Index continued its fall for the third day.The Index opened at 7435 and closed at 7265 afetr making a low of 7255.

Nifty to open gap up by 32 points at 9477.50 against yesterday's close of 9445 as per SGX Nifty.

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Monday, 22 May 2017

Trade Setup for Monday: Top 10 things you should know before Opening Bell

The market is likely to trade in a range as long as Nifty50 trades below 9,450-9,500 levels.

The Nifty50 closed below 5-days exponential moving average (DEMA) placed at 9,446 but above its 10-DEMA at 9,420. It made a bearish candle or a spinning top kind of pattern on the daily chart while a Doji pattern on the weekly charts.

Last week May Nifty Futures closed at 9,456.05 with a premium of 28.10 points to its spot. June future were trading at a discount of 44.50 points. PCR-OI has increased from 1.21 to 1.22 levels.

The market is likely to trade in a range as long as Nifty50 trades below 9,450-9,500 levels. For the upside momentum to continue, the index has to close above its previous record high of 9,532 convincingly.

“We foresee a continuation of selling at the higher level trend and 9480 is the immediate resistance point above that 9530 to 9550 is the key level to watch,” Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya Trading & Investments told moneycontrol.

“On the downside 9370 is immediate support zone. The market is here to stay and consolidate around 9300 on profit booking after the recent spectacular rally,” he said.

We have collated top ten data points on how to help you in spotting profitable trade:

Key Support & Resistance Level for Nifty:

The Nifty50 closed below its crucial support level of 9450 on Friday but respected its support level of 9,400 which is a positive sign that bulls are still trying to regain control. According to Pivot charts, the key support level for Nifty50 is placed at 9,377, followed by 9,326. If the index starts to move higher then key resistance levels to watch out are 9,492, followed by 9,556.

Nifty Bank:

Nifty Bank closed 71 points higher or 0.3 percent at 22,769 on Friday. Important Pivot level which will act as crucial support for the index is placed at 22,631, followed by 22,493. On the upside, the key resistance level is 22,905 followed by 23,040.

Call Options Data:

Maximum Call open interest (OI) of 61 lakh contracts stands at strike price 9,500 which will act as a crucial resistance level for the index in May series, followed by 9,600 which now holds 49 lakh contracts in open interest and 9,400 which has accumulated 34 lakh contracts in OI.

Call Writing was seen at strike prices 9,600 (1.99 lakh contracts added), followed by 9,700 (2 lakh contracts added), 9,900 (0.8 lakh contracts added) and 10,000 (0.5 lakh contracts added).

Call unwinding was seen at strike prices 9,800 (0.85 lakh contracts shed), 9,400 (2.3 lakh contracts shed), 9,200 (1.1 lakh contracts shed), and 9,300 (0.6 lakh contracts shed).

Friday, 19 May 2017

Nifty to open gap up by 20 points at 9456: Dynamic Levels

Nifty to open gap up by 20 points at 9456.50 against yesterday's close of 9436 as per SGX Nifty, says Dynamic Levels.

Yesterday's FII F&O showed profit booking, stay cautious to build new fresh position

Indian Market Outlook: Yesterday, the Indian Benchmark Index Nifty closed at 9429,which was 97 points below its previous day’s close of 9526.

Bosch down by 3.83 percent, Grasim by 3.46 percent, Hindalco by 2.44 percent, Tata Motors by 2.48 percent and Yes Bank by 3.68 percent were among the top losers in the Index. The support level of Nifty is 9298 which is its week one low.

Bank Nifty last day was down by 237 points. The Index closed at 22699. Yes Bank down by 3.68 percent, Federal Bank by 3.22 percent and PNB by 3.97 percent were among the top losers in the Index. Bank Nifty has its support at 22578 which is its week one low.

Small Cap Index, yesterday was down by 2.35 percent.The Index closed at 7457 after making a low of 7441.

Nifty to open gap up by 20 points at 9456.50 against yesterday's close of 9436 as per SGX Nifty.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Thursday, 18 May 2017

Hindustan Copper gains 5% on strong numbers, fund raising plan

Revenue of the company was up 61.3 percent at Rs 571.8 crore against Rs 354.4 crore.

Shares of Hindustan Copper added 5.2 percent intraday Thursday on fund raising plan and strong fourth quarter numbers.

The company's net profit has increased to Rs 40.8 crore in the quarter ended March 2017 against Rs 0.6 crore in the same quarter last fiscal.

Revenue of the company was up 61.3 percent at Rs 571.8 crore against Rs 354.4 crore.

The operating profit (EBITDA) was up 158 percent at Rs 63 crore and EBITDA margin was up 410 bps at 11 percent.

The company in its meeting held on May 17, has recommended issue of fresh equity shares through Further Public Offer (FPO) or Institutional Placement Programme (IIP) or Qualified Institutional Placement (QIP) or a combination of all to the extent of 9.25 crore equity shares (10 percent of equity).

The board has recommended payment of dividend for financial year 2016-17 at 20 paise per share for approval of shareholders in the forthcoming Annual General Meeting (AGM) of the company.

At 09:50 hrs Hindustan Copper was quoting at Rs 68.75, up Rs 2, or 3 percent on the BSE.
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Thursday, 11 May 2017

Nifty can gain 31 points at opening: Maximus Securities

Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 31 points at the opening bell, says Maximus Securities.

F&O Outlook:

Nifty PCR-OI has increased to 1.17 from 1.03. The rise in the ratio may be due to increase in PE of 9300 and decrease in CE of 9400. PE of 9300 and CE of 9400 are the highest number of contracts traded.

Opening for the Day:
Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 31 points at the opening bell.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Wednesday, 10 May 2017

Nifty to open flat to positive on back of mixed global cues: ICICIdirect

Nifty is likely to open flat to positive on the back of mixed global cues. Buy Nifty in the range of 9332-9345 for targets of 9395-9415, stop loss: 9312, says ICICIdirect.

Nifty

The Nifty continued to trade in a narrow band for a ninth day in a row with 9400 acting like a hurdle and 9300 as support. However, stock specific activity continued in this consolidation. Nifty futures ended at a premium of 36 points. India VIX fell 4.8 percent, ending at 11.1.

FIIs bought Rs 333 crore while DIIs bought Rs 17 crore in the cash segment. FIIs sold Rs 1083 crore in index futures and Rs 88 crore in index options. In stock futures, they sold Rs 594 crore.

The highest Put base is at the 9300 strike with 61 lakh shares while the highest Call base is at the 9400 strike with 58 lakh shares. The 9500 and 9400 Call strikes saw additions of 1.7 and 0.7 lakh shares, respectively, while the 9300 and 9200 Put strikes saw additions of 7.3 and 3.5 lakh shares, respectively.

Nifty Bank

Marginal profit booking was seen on the upside, which kept the index move in check. However, private sector banks like Axis and HDFC Bank have seen a long accumulation pattern. Looking at the build-up in 23000 strike, we feel the index is well placed to test highest Call base.

Nifty Future: The Nifty is likely to open flat to positive on the back of mixed global cues. Buy Nifty in the range of 9332-9345 for targets of 9395-9415, stop loss: 9312.

Nifty Bank Future: Marginal profit booking was seen on the upside, which kept the index move in check. However, private sector banks like Axis and HDFC Bank have seen a long accumulation pattern. Looking at the build-up in 23000 strike, we feel the index is well placed to test highest Call base. Buy Nifty Bank in the range of 22600-22650, targets: 22750-22850, stop loss: 22500.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.