Stock Intraday Trend : Sensex | Nifty

Sensex leaps on fuel price hike, QE3...Nifty tops 5500

NEW DELHI : The 50-share Nifty index is expected to open higher and may even hit its crucial psychological level of 5,500 on Friday tracking positive global cues after US central bank initiated another aggressive stimulus program to stimulate growth in the world’s largest economy.

At 07:30 a.m., Nifty India stock futures in Singapore were up 105 points at 5,551.50, indicating a strong opening on the domestic market.

Investors will keep a close eye on monthly inflation data which will be out later today. OMCs will also be in focus after a Cabinet committee raised price of heavily subsidised diesel by Rs 5/liter on Thursday to balance its fiscal deficit situation.

According to ET Now Poll, WPI inflation for August is expected to come at 6.9 per cent as compared to 6.87 per cent in July 2012. Core inflation which has gone up in the previous month is likely to remain above 5 per cent for the month of August also.

There is ample liquidity in system and with core inflation sustaining above the desired levels, the Central Bank is likely to stick to anti-inflationary stance, say analysts.

Majority of analysts do not expect the Reserve Bank of India (RBI) to cut interest rates in 17 September policy meet.

Sudip Bandyopadhyay, MD & CEO, Destimoney Securities Pvt. Ltd is of the view that if inflation remains at high levels then we have a problem of stagflation and somewhere we have to take policy action to come out of this complete chaos.

“Though, we are not expecting any major policy decision from RBI on Monday, but we will continue to hope against some kind of easing that will come from the central bank which will provide a boost to the market and the industry,” he added.

Rise in diesel prices would directly translate into higher inflation atleast in the short term for the economy. However, putting cap on subsidies was required to bring down the burgeoning fiscal deficit situation of the economy, which most analysts feared might lead to rating downgrade for India.

Ratings agencies Standard & Poor’s and Fitch said earlier this year that a widening deficit had put India on the brink of losing the investment grade status.

Overnight, US stocks ended higher after US Federal Reserve announced to buy $ 40 billion worth of mortgage back securities per month.

“As part of a new round of quantitative easing, the Fed said it would buy $ 40 billion of mortgage debt per month to keep borrowing rates low and would keep its benchmark interest rates “exceptionally low” until the middle of 2015,” Reuters reported.

The Dow Jones industrial average ended up 206.51 points, or 1.55 per cent, at 13,539.86. The Standard & Poor’s 500 Index was up 23.43 points, or 1.63 per cent, at 1,459.99. The Nasdaq Composite Index gained 41.51 points, or 1.33 per cent, to 3,155.83.

Asian shares rose on Friday after the U.S. Federal Reserve announced an aggressive new stimulus plan to revive growth in the world’s largest economy.

“The Fed’s move will likely accelerate the risk-positive momentum at work since the European Central Bank’s bond-buying scheme to get borrowing costs down for euro zone members was approved by Germany’s constitutional court,” said a Reuters report.

Japan’s Nikkei 225 index was trading 1.4 per cent higher at 9125.17 and Hong Kong ‘s Hang Seng index was trading higher at 20,530.12, up 2.4 per cent.

South Korea’s Kospi index was trading 2.4 per cent higher at 1,997.45. China ‘s Shanghai index was trading 0.4 per cent higher at 2,118.12.

Global cues to watch out today:

14th Sep: 11:00, Euro Area Finance Ministers meet in Cyprus
14th Sep: 12:00, India Aug WPI, estimate 6.9%
14th Sep: 14:30, Euro zone Aug CPI, estimate 2.6% YoY
14th Sep: 14:30, Euro zone Q2 employment
14th Sep: 18:00, US Aug CPI, estimate 2% YoY
14th Sep: 18:00, US Aug advance retail sales, estimate 0.8%
14th Sep: 18:45, US Aug industrial production

NSE FNO Cues-Sep 13

Nifty Sep futures closed at premium of 16 points at 5450.7
Nifty Sep futures adds 2.6lk shares in OI
Stock Futures for all series add 47lk shares in OI
Nifty PCR at 1.02 Vs 1.05

Nifty Options-Sep series
Calls
Nifty 5500 call adds 4.8lk shares in OI
Nifty 5600 call adds 13.2lk shares in OI
Nifty 5700 call adds 7.5lk shares in OI
Max OI in Nifty 5600 call with 96lk shares

Puts
Nifty 5300 put adds 4.9lks shares in OI
Nifty 5400 put adds 12.9lk shares in OI
Nifty 5500 put adds 2.2lk shares in OI
Max OI in Nifty 5300 put with 100 lk shares

Copyright -The Economic Times

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Tech Mahindra acquires Hutchinson : Market Outlook

Tech Mahindra Acquires Hutchinson Global Services

Tech Mahindra Limited, a leading provider of solutions and services to the telecommunications industry, today on tuesday 4 Sep 2012, announced the acquisition of 100% stake in Hutchison Global Services Private Limited for US $ 87.1 m, payable upfront. 

Hutchison Global Services provides services to the clients of Hutchison's mobile firm in the UK, Ireland and Australia, the statement said.

As part of the deal, the clients of Hutchison Global have committed to procure services worth USD 845 million over a five-year period, said Tech Mahindra, a unit of India's Mahindra & Mahindra Ltd

Hutchison Global Services has about 12,000 employees operating out of five facilities in India.

British outsourcing group Serco was also interested in buying Hutchison Global Services, which services Hutchison’s mobile firm Three in the UK and Ireland as well as Vodafone in Australia.
Source : techmahindra.com

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Realiance Look Cheap : Market Updates

We saw a big spike up in RIL yesterday, there is no clear cut explanation or something which can be given as a reason for the same, but i think the combination of factors made that move possible. One was the KG basin talk. Secondly, the refining margins like the product margins have also moved up sharply over the last few weeks. So, some analysts are becoming more bullish on refining margins for this quarter.

Overall, the stock continues to be cheap. However, I think the triggers are still lacking in terms of creating a longer term bigger upmove because the production in KG basin is still falling. So, I think it’s a cheap stock. It will keep on having its rallies in between, but there doesn’t seem to be any big upmove coming through, unless and until the telecom story starts unfolding.

By - Prabhudas Lilladher

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Nifty Outlook : Sensex updates

Sensex gains most in 1 month; Nifty at 5200

The BSE benchmark ended above the key 17,000 mark on the back of a global rally in equities. The Sensex soared 304 points or 1.8 per cent, its biggest rally in over one month, while the broader Nifty index advanced 100 points to 5,199.80.

Markets ended near the day's high, signalling further bullishness ahead. Global cues helped sentiments today. Asian stocks closed higher and European markets also traded with strong gains.

Global stocks started rallying ever since the ECB president resolved to save the Eurozone last Thursday. Analysts also expect the US Federal Reserve to announce monetary easing action later this week after US GDP grew at 1.5 per cent in Q2, the weakest since the third quarter of 2011.

Domestically, the Reserve Bank will announce its monetary policy on Tuesday. Economists expect the central bank to hold rates because of high inflation.

"The markets are ending near the day's high and that's a significant indication. For the short term, I am not bearish on the markets even if the RBI doesn't do anything," Ashu Madan, COO of Religare Securities told NDTV Profit.

The Sensex gained 304 points to 17,144, while the Nifty advanced 100 points higher at 5,200.

Power, realty and capital goods shares were the top gainers, rising over 3 per cent. Banking stocks also rebounded sharply, gaining 2.7 per cent on the BSE.

On the Nifty index, infra major Jaiprakash Associates was the top gainer, rising 5.7 per cent. Reliance Infra gained 5.4 per cent. Oil and gas major Cairn India and infra lender IDFC were the other big gainers, rising 4-5 per cent.

Shares in state-run lenders like SBI rebounded after some PSU lenders like Oriental Bank of Commerce reported better than expected earnings today. Bank of Baroda met Street estimates. These lenders did not report a sharp rise in asset quality, like PNB and Central Bank did last Friday.

State Bank of India gained 4.7 per cent, while Bank of Baroda rose 3.5 per cent.

ICICI Bank, India's biggest private lender, was among the top Nifty gainers, rising 3.9 per cent. ICICI Bank had reported strong set of results for the June quarter on Friday. The restructured loans had also declined. Other private sector lenders like Axis Bank also saw strong gains.

"PSU banks have been disappointing. Private sector banks have been on a positive note on fee income and select credit growth. The commentary of ICICI Bank says they are here to maintain the net interest margin and growth in business. Private sector banks give confidence vis-a-vis PSU banks," Deven Choksey, MD of KR Choksey Securities told NDTV Profit.

On the Nifty, only 4 of the 50 stocks closed lower. Ambuja Cements was the top loser, down 1.3 per cent. IT major Wipro, which expects to grow at the lower end of analysts' expectations in the September quarter, shed 0.5 per cent. State run oil explorer ONGC and IT major HCL Tech also saw minor losses.

Among other stocks, SpiceJet soared 22 per cent, after the domestic carrier swung into profit after five straight quarterly losses. It was also the top traded stock on the BSE 500 index.

The market breadth continued to remain strong with nearly 80 per cent shares rising on the broader BSE 500 index.

SOURCE : http://profit.ndtv.com

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Nifty Outloook For Next Week 02-06 April

While commenting on Nifty Outlook for the next week, we maintain our views that markets may remain range bound but if fuel prices are hiked then it will be positive for oil and marketing companies. Markets would also be looking out for quarterly earnings from second week of April with IT major Infosys. As far as rupee movement is concerned, liquidity flow from FIIs as well as government borrowing plan would determine the rupee movement. So in the current scenario, we would continue to recommend bottoms up approach to accumulate stocks of companies having ethical management and attractive valuations across sectors like IT, Banking, Media, Logistics, Capital goods and infrastructure.

Overall, Nifty has taken support at 200 dma and showed strong buying. The renewed buying interest can take nifty to 5,470 levels in the coming days. On the downside, 5,130 continues to be a support.

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Stock Market Outlook For Tomorrow 17-Feb

It was almost good trading session today. Markets recovered from the lows of the day and finally closed with moderate losses. Realty, power, capital goods and IT sectors were gainers of the day while metal and oil & gas came under selling pressure.

Global sentiments may continue to influence market behavior and could make it highly volatile. Two consecutive closings above 5,500 level have made the short term trend of the Nifty bullish. For Intraday trading tomorrow Nifty is having important resistance levels at 5550-5600, while on the downside support exists 5,450-5,420.

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Nifty Intraday outlook for Tomorrow 09-Nov

For coming trading sessions market sentiments would depend mainly upon the main events like the IIP data for September and of-course inflation too.

For intraday trading tomorrow stock market is expected to continue volatility ahead. International developments will greatly influence the market trend. For Nifty tomorrow downside support exists at 5,240-5,205 and on upside resistance can be found at 5,325-5,370-5,400.

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Market Trend For Tomorrow 16-Sept

Indian Stock Markets closed with significant gains in highly volatile session today on a positive note ahead of the RBI policy.

On Daily charts, we are observing that RSI and Stochastic are northbound. For the coming session, we can see 5030 as the immediate support and if this is broken, next support is seen at 5000-4960. On higher levels, 5130 is the immediate resistance for Nifty and any gains above these levels are likely to face stiff resistance at 5160-5200. Traders are advised to trade in small quantities and with strict stop-loss.

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Markets Outlook For Tomorrow 25-Aug

After two positive sessions markets witnessed again a choppy trend. Nifty continued selling pressure from resistance near 4,950 levels and closed in red with significant loss. Nifty August future expiry due on Thursday therefore volatile movement may be seen in coming trading sessions. Market sentiments may remain weak below 4,950 levels. Nifty is likely to continue trade in 4,800-4,980 zones for next trading.

For intraday tomorrow, the trend deciding level is at 4,900. If Nifty shows strength above this levels, then rally to 4,950-4,980-5,025 may be seen. On the downside if Nifty fails to show strength above 4,900 levels then selling pressure till 4,850-4,815 may also be seen.

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Markets Outlook For Monday 01-Aug

With the beginning of new derivative contract, Nifty is likely to consolidate in coming trading sessions. Nifty may follow the weak to subdued cues from the global markets till Aug- 2nd till the talks are over in US. The short term trend for Nifty is expected to be bearish.

Nifty could find immediate supports at 5,450 - 5415 levels and the resistance at 5,540 -5,575 levels. Nifty is expected to consolidate between 5,400-5,600 levels.

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Nifty Intraday Outlook For Monday 11-July

Markets made substantial gains in this week. Both indices Nifty and Sensex were up 0.6% and 0.5% respectively. Market sentiments have turned positive and seem bullish for coming trading sessions.

While commenting on Nifty Outlook for Monday it has strong resistance at 5,700-5,750. Any fresh buying position should be initiated above 5650 levels for targeting 5700. Result season has been started and market sentiments are likely to be affected by the corporate results outcome. On the downside Nifty may find support around 5618-5575 levels.

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Nifty Intraday Tips and Trend For Tomorow 23-June

Nifty is trading sideways and trend is still down. Nifty is trading in the range of 5250-5325 and it is expected that market may remain weak until nifty trades above 5325 level or breached below 5250 level. Traders are suggested to trade cautiously and buy Nifty at Dips and Sell it on rise.

Supports & Resistance For Tomorrow 23-June :
Support for Nifty may be at 5233-5185 levels and resistance could find at 5325-5364 levels.

Nifty Intraday Tips For Tomorrow 23-June :
Trade long in Nifty around 5270-5275 levels with placing a strict spoloss of Rs 5247 for target of Rs 5300-5316-5335.

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Nifty Trend & Intraday Tips For Tomorrow 17-June

Reserve Bank Of India(RBI) hiked repo rate and reverse repo Rate by 25 basis points(bps) thus, both indices Nifty and Sensex showed selling pressure for second consecutive day and closed in red, which suggests bears are having control at the moment. Market sentiment for Nifty may remain weak below 5,400 level and selling pressure may be seen below this.

For Nifty Tomorrow, trend deciding level is at 5,415. If Nifty shows strength above this levels, then rally to 5,450/5,480/5,525 levels may be seen, otherwise selling pressure may be seen till 5,360/5,325/5,300 levels.

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Markets Outlook For Tomorrow 09-June

The markets could not make any clear direction throughout the day and closed in red with moderate losses. Nifty is still trading in 5,480-5,615 range, until Nifty manages to show strength above 5,615 or below 5,380 levels, volatility and range bound scenario may be continuing. Traders should be cautious within this range.

For intraday trading tomorrow if indices trade convincingly above 18,500 / 5,550 levels then it is likely to test 18,630 - 18,800 / 5,585 - 5,610 levels. Any daily close above 18,630 / 5,550 would confirm a higher top higher bottom on the daily chart and we may witness an accelerated move. On the downside 18,225 -18,120 / 5,470 - 5,430 may act as a support for the day.

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Nifty Intraday Outlook for Tomorrow 07-June

Market still seems to be in consolidation phase in the near-term. Nifty traded rangebound today and set to close in green with moderate gains. For next trading sessions Nifty is likely to find support in the range of 5475-5425 levels and 5,580-5,625 levels may act as resistance for next trading sessions.

If Nifty manages to trade above 5,550 level with high volume than we can see up-move towards 5,600, otherwise on the down side, below 5500 level more correction can be seen in Nifty.

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NIFTY OUTLOOK FOR TOMORROW 07-APRIL

The markets were in consolidation mode today. Both the benchmark indices Nifty and Sensex corrected a bit. By looking daily reports and charts market has been overbought and is now moving in a sideways consolidation zone. In coming trading session some healthy correction is expected. But as overall trend is still up so the readers who are holding longs in Nifty, may go on holding till the trend remains up.

For Intraday Tomorrow if indices trade convincingly  above 19670 / 5,900 levels then they are likely to test 19,785-19,850 / 5,945-5,980. On the downside, 19,520 - 19,435 / 5,850 - 5,824 are the crucial support levels for the indices. Any breach below this levels would intensify the selling pressure.

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Indian Stock Market For Tomorrow 30-March

It was another good day for trading in Indian Stock Markets. Today Nifty showed good strength and closed above 5,700 levels with positive market breadth. If Nifty manages to trade above 5,700 levels then buying interest till 5,760-5,850 may be seen in coming trading days, else below 5,650 profit booking may be seen.

For intraday trading tomorrow trend deciding level is at 19150 / 5740. If indices trade above this levels then they are likely to test 19,240 - 19,350 / 5,778 - 5,820 levels. On the downside, 19,004 - 18,930 / 5,705 - 5,670 levels are support for the day. Any breach below this levels may intensify the selling pressure.

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Intraday Outlook For Nifty Tomorrow 23-Mar

Nifty Tomorrow

It was a good day for Indian Stock Markets. Positive cues from US and Asian markets took Indian markets to close green in most sectors. Today Nifty showed good strength and closed above 5,400 levels with positive market breadth. If Nifty manages to trade above 5,400 levels then buying interest till 5,500-5,550 may be seen in coming trading days, else profit booking may be seen.

For next intraday trading, the trend deciding level is at 5,400. If Nifty shows strength above 5,400 level, then rally to 5,455/5,500//5,550 levels may be seen. If Nifty does not show strength above 5,400 levels selling pressure till 5,340/5,300/5,260 may also be seen.

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Stock Market Prediction For Tomorrow 18-Mar

Indian Stock Market slumps today and closed in red with around 1.15% down due to cues from European peers and had already factored in 25 bps hike in interest rates by the Reserve Bank of India.

Looking at daily Nifty Charts and reports at present the narrow range body formation reflects indecisiveness prevailing at current levels. Hence, if indices trade above 18,185 / 5,460 levels then they are likely to test 18,330-18,410 / 5,495-5,530. On the downside, 18,010 - 17,924 / 5,412 - 5,375 are the crucial support levels for the indices. Any breach of below this levels would intensify the selling pressure.

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Stock Market Prediction For Tomorrow 17-Mar

Markets opened higher and traded with positive bias throughout the day to close in green as the positive cues from the global markets. On the basis of Nifty daily charts we are observing that prices have managed to stay close above the 20-day EMA. The immediate resistance for the indices is at 18,470 / 5,540 levels.

For next intraday trading session any move above 18,470 / 5,540 would lead indices to test 18,640 - 18,750 / 5,580 - 5,610 levels. On the downside, markets could find support levels at 18,225 - 18,120 / 5,475 - 5,440.

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