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Indian Indices: Asian markets are also seeing consolidation as US indices close with minor losses with caution being the buzzword. With almost 85% probability of a rate hike by the US Federal Reserve on the March 15 markets have turned cautious and will see some more profit booking before the event to price in the same.

Nifty closed with minor losses as 8950 and above saw profit booking before the election results due this weekend. With next week being holiday, expect more volatility in the coming few days as investors book profit before the event with markets being closed on Monday. Metals, Banks and Pharma stocks could be under pressure with Energy, IT seeing buying for today.

The BSE Sensex is currently trading at 28920.60, down by 78.96 points or 0.27% after trading in a range of 28908.89 and 29022.32. There were 7 stocks advancing against 23 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.31%, while Small cap index was down by 0.06%.

The CNX Nifty is currently trading at 8942.00, down by 4.90 points or 0.05% after trading in a range of 8939.85 and 8957.05. There were 22 stocks advancing against 29 stocks declining on the index.

Technical view: Nifty finds strong support @ 8880-8900 while resistance comes around 9000. Bank Nifty sees support around 20400, which was the swing low last week while 20800 will act as resistance on the upside.

Trading ideas :IndusInd Bank (Buy above 1332 for Target of 1370 and SL 1315): After consolidating for the past five trading sessions, our analysis of the hourly time frame indicates that the stock has broken out from an inverse head and shoulder pattern, which is bullish in nature. The neckline breach has also been accompanied with credible volumes. IndusInd Bank has also closed above its short term 10-EMA, further accentuating our bullish stance on the stock.

Derivative Snippets: Markets ended yesterday’s trading session on a lackluster note. Nifty call and put options witnessed some buying interest, as the implied volatility of ATM/OTM options started to move up ahead of state election results.   

FIIs were net buyers in cash market segment to the tune of Rs 920 crore.

FII’s index future long/short ratio stands at 3.5x vs4.1x. Significant long and short positions to the tune of ~14k and ~13k contracts were added in index future.

Nifty Movers: The top gainers on Nifty were Kotak Mahindra Bank up by 1.71%, Yes Bank up by 1.70%, Power Grid up by 1.49%, ACC up by 1.34% and AurobindoPharma up by 0.87%.

On the flip side, BPCL down by 1.57%, Idea Cellular down by 1.52%, Hindalco down by 1.22%, HCL Technologies down by 1.05% and Infosys down by 0.89% were the top losers.

Top Sectoral& Stock Screening:  The only gainers on the BSE were Healthcare up by 0.15% and Bankex up by 0.09%, while Metal down by 1.27%, Oil & Gas down by 1.08%, Energy down by 0.88%, IT down by 0.71% and Realty down by 0.71% were the losing indices on BSE.

The top gainers on the Sensex were Power Grid up by 1.16%, HDFC up by 0.69%, NTPC up by 0.41%, Larsen & Toubro up by 0.36% and Cipla up by 0.28%.

On the global front: On the global front, Asian shares were trading mostly in green, as strong China trade data bolstered bets of a recovering global economy, though gains were capped by caution ahead of a widely expected US interest rate hike next week. Japan’s economy grew more than earlier estimated in the fourth quarter as capital expenditure grew at its fastest in almost three years, welcome news for policymakers as they begin to discuss how to wind down years of massive stimulus.

Global Signals:The Asian markets were trading mostly in green; KOSPI Index increased 0.86 points or 0.04% to 2,094.91, Shanghai Composite increased 1.05 points or 0.03% to 3,243.45, Taiwan Weighted increased 23.15 points or 0.24% to 9,761.22 and Hang Seng increased 95.21 points or 0.4% to 23,776.28.

On the other hand, Nikkei 225 decreased 111.9 points or 0.58% to 19,232.25, Jakarta Composite decreased 2.38 points or 0.04% to 5,400.23 and FTSE Bursa Malaysia KLCI decreased 1.96 points or 0.11% to 1,726.70.

Indian Indices: Asian markets opened a mixed note with most indices trading in green as overnight US indices regained most losses to close marginally below 21000. North Korea missile test, profit booking and Fed meet on March 14-15 will be key in deciding future direction of the US and the global markets next week.

Nifty rallied from opening bell to close near the highs for the day as foreign buying saw bears scramble for cover. The Nifty closed @ the highest point in the last 2 years with 9000 being the target for today. Reliance, Metals and private banks led the way as mid-caps also joined the party.

The BSE Sensex is currently trading at 29043.51, down by 4.68 points or 0.02% after trading in a range of 29033.83 and 29098.17. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were holding the ground and trading in green; the BSE Mid cap index was up by 0.33%, while Small cap index up by 0.17%.

The CNX Nifty is currently trading at 8959.40, down by 4.05 points or 0.05% after trading in a range of 8952.40 and 8977.85. There were 25 stocks advancing against 26 stocks declining on the index.

Technical view: Nifty finds strong support @ 8900 with 9000 being the resistance on the upside, while Bank Nifty also finds strong support @ 20400 with 20800 acting as resistance on the upside.

Trading ideas: ASHOKLEY (Buy above Rs 91, for Target of Rs 95.5, SL at Rs 88.5): Stock has formed a bullish morning star pattern on the daily charts after successfully taking support at the 50% Fibonacci retracement of the recent up move. Ashok Leyland also closed above its 200-DMA in yesterday's trade with credible volumes. RSI crossover on the daily chart adds to the bullish stance in the stock.  We advise to Buy AshokLey above Rs 91, Stop Loss at Rs 88.5 and Target of Rs 95.5.

Derivative Snippets: Markets traded with a positive bias as Auto and Banking index surged higher. With the heavy short selling of Nifty 9000PE and short covering of Nifty 9000CE, a breach of the psychological resistance of 9000 is on the cards for the first time since March 2015.

FIIs were net buyers in cash market segment to the tune of Rs 564 crore.

FII’s index future long/short ratio continues to stand above 4x since the start of this F&O series, leading to a positive bias in the markets.

Nifty Movers: The top gainers on Nifty were Tata Power up by 1.33%, BPCL up by 0.98%, Reliance Industries up by 0.85%, Zee Entertainment up by 0.77% and Tech Mahindra up by 0.65%. On the flip side, Hindalco down by 1.70%, Infosys down by 1.44%, Tata Motors - DVR down by 0.96%, Tata Motors down by 0.85% and Yes Bank down by 0.80% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Power up by 0.84%, Utilities up by 0.76%, Energy up by 0.52%, Oil & Gas up by 0.43% and Consumer Durables up by 0.37%, while Metal down by 0.50%, Realty down by 0.47%, IT down by 0.29%, TECK down by 0.21% and Healthcare down by 0.10% were the losing indices on BSE.

On the global front: On sectoral front, power utility and energy stocks were restricting any fall in the market. The oil & gas stocks were trading higher after International Energy Agency (IEA) stated that India is moving to the centre stage of global energy market and by the early 2020s it will replace Russia as the world's third largest refiner. In scrip specific action Bharat Financial Inclusion declined after it said that 4.5 percent of its loan portfolio was at a risk of turning bad in Q4 and that 60 percent of the overdue portfolio pertained to Uttar Pradesh and Maharashtra.

Global Signals:The Asian markets were trading mostly higher; FTSE Bursa Malaysia KLCI was up by 1.29 points or 0.07% to 1,728.65, KOSPI Index gained 13.4 points or 0.64% to 2,094.76, Taiwan Weighted was higher by 38.3 points or 0.4% to 9,720.93 and Hang Seng increased 92.36 points or 0.39% to 23,688.64.On the other hand, Nikkei 225 declined by 26.15 points or 0.13% to 19,352.99, Jakarta Composite was down by 6.41 points or 0.12% to 5,403.41 and Shanghai Composite was tad lower by 2.24 points or 0.07% to 3,231.63.

Indian Indices: Asian markets opened mixed as North Korea tested some missiles, which saw a cautious start to the week. The undertone remains strong with all falls being bought, as the rate hike by the US Federal Reserve anticipated in March, gets priced in.

Nifty saw a sharp pullback on Friday in the last hour of trade as foreign investors bought aggressively. Reliance Industries led the rally as renewed buying by foreign institutions saw the heavyweight lead from the front. For today, expect bets on the election results due in the state elections on Saturday March 11th to fuel rumours as Nifty will oscillate sharply this week.

The BSE Sensex is currently trading at 29050.54, up by 218.09 points or 0.76% after trading in a range of 28856.12 and 29054.72. There were 25 stocks advancing against 5 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.58%, while Small cap index was up by 0.64%.

The CNX Nifty is currently trading at 8959.95, up by 62.40 points or 0.70% after trading in a range of 8914.00 and 8962.10. There were 38 stocks advancing against 13 stocks declining on the index.

Technical view: Nifty has held the support @ 8860 with 8840 acting as strong support while 8980 will act as resistance on the upside. Bank Nifty also finds strong support @ 20350 while 20800 will act as resistance.

Trading ideas :Bharat Forge (Buy above Rs 1045 for Target of Rs 1075, SL at Rs 1028): After correcting for past seven consecutive trading sessions, the stock has finally shown some signs of reversal by forming a hammer candle stick pattern on daily charts. The stock has also retested the neckline of the long drawn consolidation breakout, which occurred two weeks back. Momentum oscillators are also indicating a shift in momentum. 

Derivative Snippets: In the last trading session, markets traded in a narrow range as the option writers took a center stage. Across the board, Option writing of the OTM strikes was witnessed in the Bank Nifty weekly contracts.

FIIs were net buyers in cash market segment to the tune of Rs ~1529 crore.

FII’s index future long/short ratio fell to 4.4x vs5.4x, as long unwinding of 12.7k contracts was witnessed.

Nifty Movers: The top gainers on Nifty were Reliance Industries up by 3.58%, IndusInd Bank up by 1.99%, Power Grid up by 1.68%, Asian Paints up by 1.41% and NTPC up by 1.38%.

On the flip side, Grasim Industries down by 1.69%, Idea Cellular down by 1.31%, AurobindoPharma down by 0.93%, Zee Entertainment down by 0.87% and Sun Pharma down by 0.76% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Energy up by 2.06%, Oil & Gas up by 1.27%, Power up by 1.09%, Auto up by 1.08% and PSU up by 1.03%, while Consumer Durables down by 0.08% and IT down by 0.01% were the only losers on BSE.

The top gainers on the Sensex were Reliance Industries up by 3.66%, Power Grid up by 1.70%, NTPC up by 1.57%, Asian Paints up by 1.31% and Bajaj Auto up by 1.20%.

Indian Indices: Asian markets were trading in the red as profit booking overnight in the US. While, other emerging markets also saw indices succumb to stronger US Dollar and rising bond yields. The rally in the US may have reached the proverbial peak with 21000 on the Dow Jones being a huge tipping point in the near term. US Dollar strength will weigh on emerging markets as institutional investors book profit against currency weakness in these markets.

Nifty also saw huge reversal as nervous nineties played out perfectly with the mid-cap stocks leading the fall. Profit booking close to 9000 was on the cards as local mutual funds sold to take advantage of the superb near term rally in indices and stocks. For today expect initial profit booking to continue, however, second half index buying by foreign investors will arrest any further fall as foreign flows continue to be strong buyers. 

The BSE Sensex is currently trading at 28792.65, down by 47.14 points or 0.16% after trading in a range of 28736.10 and 28847.97. There were 16 stocks advancing against 14 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index was down by 0.03%, while Small cap index was up by 0.13%. The CNX Nifty is currently trading at 8882.40, down by 17.35 points or 0.19% after trading in a range of 8862.45 and 8898.50. There were 25 stocks advancing against 26 stocks declining on the index.

Technical view: Nifty will see 8830-8850 act as support while 8930 will act as first resistance. Bank Nifty has been the weaker of the 2 and sees support closer to 20450, which should hold while 20750 will act as resistance on the upside.

Trading ideas :TVS Motors (Buy above Rs 427, for Target of Rs 440, SL at Rs 420.5): The stock is trading in a constant higher top higher bottom cycle. The momentum indicator RSI has formed positive reversal at 60, which indicates bullish bias to the up move. It is also sustaining above the rising trend line support zone.

Derivative Snippets: In the last trading session, markets witnessed a wild swing in the final hour of trade. Bank Nifty was among the biggest loser as short selling of OTM March 02, 2017 weekly expiry call options and long unwinding of future contracts weighed in.

Nifty managed to hold the 8900 mark as 8900 put strike added fresh long position with the rise in open interest to the tune of ~1.82 lakh contracts. Substantial trading below 8900 may lead to a further downfall up to the support zone of 8800.

FIIs were net buyers in cash market segment to the tune of Rs ~123 crore. FII’s index future long/short ratio at 5.4x vs 4.5x.

Nifty Movers:  The top gainers on Nifty were BhartiInfratel up by 4.16%, Reliance Industries up by 2.32%, Hindalco up by 2.01%, Tata Power up by 1.79% and Grasim Industries up by 1.76%. On the flip side, Bosch down by 2.15%, HDFC down by 1.53%, ITC down by 1.53%, Asian Paints down by 1.38% and IndusInd Bank down by 1.16% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Telecom up by 1.28%, Energy up by 1.09%, Realty up by 0.73%, Utilities up by 0.70% and Oil & Gas up by 0.54%, while FMCG down by 0.76%, IT down by 0.40%, Bankex down by 0.31%, Capital Goods down by 0.22% and Auto down by 0.20% were the losing indices on BSE.

On the global front:On the global front, Asian shares were trading in red, as traders become increasingly confident the Federal Reserve will hike interest rates this month. Japan’s core consumer prices rose for the first time in over a year in January due to a pickup in energy costs and private consumption, offering some hope for the central bank's efforts in accelerating inflation to its 2 percent target.

Global Signals: Asian Paints down by 1.38% and IndusInd Bank down by 1.16% were the top losers.The Asian markets were trading in red; Hang Seng decreased 164.98 points or 0.7% to 23,563.09, Nikkei 225 decreased 130.53 points or 0.67% to 19,434.27, Taiwan Weighted decreased 40.28 points or 0.42% to 9,651.52, KOSPI Index decreased 25.46 points or 1.21% to 2,077.19, Shanghai Composite decreased 13.87 points or 0.43% to 3,216.15, Jakarta Composite decreased 11.87 points or 0.22% to 5,396.38 and FTSE Bursa Malaysia KLCI decreased 7.08 points or 0.41% to 1,708.59.

Indian Indices: Asian markets were trading in the green taking cues from the overnight 300 plus point rally on the Dow Jones. The consensus now has built in the chances of a rate hike by the Fed in March, which saw yields harden and the US Dollar strengthen. Globally, the outperformance of equities continues with ETF funds seeing huge inflows.

Nifty bounced back in style to capture 8900 with ease and close near 8950. The stronger than expected GDP data and return of foreign flows will see Nifty touch 9000 today as global cues join the bull market chorus. For today, expect mid-cap gains to continue with the mid-cap index hitting all time highs. Metals, Pharma and Consumption could continue to lead the gainers while Energy and Telecoms see profit booking @ higher levels.

The BSE Sensex is currently trading at 29107.29, up by 122.80 points or 0.42% after trading in a range of 29062.07 and 29133.44. There were 24 stocks advancing against 6 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.42%, while Small cap index was up by 0.46%.

The CNX Nifty is currently trading at 8981.60, up by 35.80 points or 0.40% after trading in a range of 8969.80 and 8992.50. There were 39 stocks advancing against 12 stocks declining on the index.

Technical view: Nifty finds strong support @ 8920 while 9000 will be the first resistance on the upside while Bank Nifty also finds strong support around 20500 where it will face resistance around 21000.

Trading ideas :McleodRussel (Buy above Rs 176, for Target of Rs 183, SL at Rs 172.5): The stock was stuck in a narrow trading band for the past 3 weeks oscillating between Rs 173-166. Finally, Mcleod has broken out from a Flag pattern accompanied with increase in volumes. Projections indicate potential target for stock up to Rs 183 in the near term. Other momentum oscillators indicate that the current momentum is here to stay.

Derivative Snippets: Nifty Metal and Realty index shimmered as the markets restarted its upward trend after 2 days of minor correction. Nifty ATM/ITM put strikes witnessed short selling as the highest open interest put base shifted from 8500 to 8800 strike.

FIIs were net sellers in cash market segment to the tune of Rs 198 crore.

FII’s index future long/short ratio at 4.5x in contrast to 0.46x for the Retail clients.

Nifty Movers:  The top gainers on Nifty were Tata Motors up by 3.50%, Tata Motors - DVR up by 2.88%, Ultratech Cement up by 2.84%, Ambuja Cement up by 1.59% and Hindalco up by 1.53%.

On the flip side, Sun Pharma down by 1.29%, BPCL down by 1.21%, Dr. Reddy’s Lab down by 1.00%, Idea Cellular down by 0.93% and NTPC down by 0.78% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Auto up by 1.24%, Industrials up by 1.18%, Metal up by 0.95%, Basic Materials up by 0.91% and Consumer Durables up by 0.81%, while Realty down by 0.71% and Healthcare down by 0.14% were the losers on BSE.

On the global front:On the global front, Asian shares were trading mostly in green, as investors were encouraged by President Donald Trump’s measured tone in his first speech to Congress, which sent Wall Street stocks sharply higher. China’s newly appointed banking regulator vowed to strengthen supervision of the lending sector, underscoring Beijing’s determination to fend off financial risks and push forward with reforms this year.

Global Signals: The Asian markets were trading mostly in green; KOSPI Index increased 12.49 points or 0.6% to 2,104.13, FTSE Bursa Malaysia KLCI increased 14.53 points or 0.86% to 1,712.22, Jakarta Composite increased 52.77 points or 0.98% to 5,415.83, Hang Seng increased 96.15 points or 0.4% to 23,872.64 and Nikkei 225 increased 191.63 points or 0.99% to 19,585.17.

On the other hand, Taiwan Weighted decreased 4.05 points or 0.04% to 9,670.73 and Shanghai Composite decreased 0.28 points or 0.01% to 3,246.65.

Indian Indices: Asian markets opened mixed with the Japanese 'Yen" weakness seeing gains in the stock indices while other markets opened flat. The US Dow Jones index corrected marginally after a long streak of 12 consecutive sessions of gains as the US Dollar gained strength on the back of growing expectation of a March rate hike by the Federal Reserve.

Nifty succumbed to profit booking and closed below the 8900 level as energy stocks dragged the index lower. GDP data released after market hours showed better than expected growth @ 7%, which belied any slow down after the 'demonetization' exercise in November. For today expect market consolidation and an attempt @ 8930 as positive data will see a renewed bout of buying by foreign investors. 

The BSE Sensex is currently trading at 28958.02, up by 214.70 points or 0.75% after trading in a range of 28824.17 and 29001.35. There were 25 stocks advancing against 5 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.26%, while Small cap index was up by 0.67%.

The CNX Nifty is currently trading at 8934.95, up by 55.35 points or 0.62% after trading in a range of 8898.60 and 8950.25. There were 38 stocks advancing against 13 stocks declining on the index.

Technical view: Nifty finds support @ 8850 while 8930 will act as first resistance on the upside. Bank Nifty will see a support closer to 20500 while 20800 will act as a resistance on the upside.

Trading ideas : HEROMOTOCO March Future (Sell below Rs 3140 for Target of Rs 3050, SL at Rs 3180): Stock has formed a classic bearish evening star pattern on the daily charts after it took resistance at its 200-DMA (3212), which also coincides with 61.8% retracement of ongoing downside move. The hourly charts too gave a breakdown from a rising trendline confirming our negative stance. We advise to SELL HEROMOTOCO March Future below Rs 3140, Stop Loss at Rs 3180, and Target of Rs 3050.

Derivative Snippets: In the last trading session, markets closed on a negative note. Minor hint of put buying was visible in Nifty ATM/OTM put strikes.

Short selling was witnessed in the weekly Bank Nifty 20500PE and 21000CE strikes, indicating of a rangebound trading activity going forward.

FIIs were net buyers in cash market segment to the tune of Rs 1146 crore. FII’s index future long/short ratio at 4.7x in contrast to 0.46x for the Retail clients.

Nifty Movers: The top gainers on Nifty were Axis Bank up by 2.43%, Dr. Reddy’s Lab up by 2.06%, HDFC up by 1.69%, Sun Pharma up by 1.66% and Hero MotoCorp up by 1.48%.

On the flip side, BPCL down by 1.57%, Tata Motors down by 1.16%, Ultratech Cement down by 1.10%, Idea Cellular down by 0.99% and BHEL down by 0.95% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Realty up by 1.84%, Healthcare up by 1.05%, Bankex up by 0.98%, IT up by 0.81% and FMCG up by 0.66%, while Oil & Gas down by 0.70%, Energy down by 0.33% and Telecom down by 0.17% were the losers on BSE.

On the global front: On the global front, Asian shares were trading mostly in green, while Japanese stocks recovered from intraday lows after US President Donald Trump’s speech to Congress offered few details or surprises on tax and spending policies. China’s factory activity expanded for the eighth straight month in February as export orders picked up, a private survey showed, giving authorities more room to tackle financial risks in the economy as debt continues to rise.

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 3.6 points or 0.21% to 1,697.37, Shanghai Composite increased 13.88 points or 0.43% to 3,255.61, Hang Seng increased 56.25 points or 0.24% to 23,796.98 and Nikkei 225 increased 266.14 points or 1.39% to 19,385.13.

On the other hand, Taiwan Weighted decreased 58.52 points or 0.6% to 9,691.95 and Jakarta Composite decreased 17.8 points or 0.33% to 5,368.89.South Korea stock exchange was closed on account of ‘Independence Movement Day’ holiday.