Indian
Indices: Asian indices opened in the green after a strong triple digit rally
overnight on the Dow Jones as the Fed rate hike got discounted by the
markets. US Dollar fell even as bond yields corrected with gold prices rising
as the Fed indicated gradual rise in rates over the year.
Nifty will witness new highs on opening bell as foreign flows continue
to be big buyers even as domestic mutual funds book profit. Rupee strength,
improving longer term macros and local liquidity, all are seeing re-rating of
Indian equities. For today expect mid-cap outperformance to continue even as
foreign investors buy large cap heavy weights.
The BSE
Sensex is currently trading at 29590.75, up by 192.64 points or 0.66% after
trading in a range of 29482.83 and 29614.79. There were 27 stocks advancing
against 3 stocks declining on the index.
The broader
indices were trading in green; the BSE Mid cap index surged 0.99%, while
Small cap index was up by 0.91%.
The CNX Nifty is currently trading at 9145.95, up by
61.15 points or 0.67% after trading in a range of 9128.55 and 9152.90. There
were 48 stocks advancing against 3 stocks declining on the index.
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MARKET
INDICATORS
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·
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Group ATopGainers
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Company
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Price (Rs)
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% chg
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PCJeweller
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402.10
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4.32
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Jindalstel
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128.20
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4.31
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Adaniports
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321.00
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3.58
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Balkrisind
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1427.00
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3.53
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Group ATopLosers
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Srtransfin
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1047.20
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-2.28
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Concor
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1232.00
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-1.83
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Cadilahc
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443.40
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-1.34
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Unitdspr
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2235.00
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-1.46
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INDEX
PERFORMANCE
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Indices
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Support
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Resistanes
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Sensex
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29345
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29550
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Nifty
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9055
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9120
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Technical view: Nifty finds strong support around 9050 while 9200
will act as resistance on the upside. Bank Nifty also finds strong support
around 21000 while 21500 will act as resistance on the upside.
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Trading
ideas :Adani
Enterprise (Buy above 101 for Target of 110 Stop Loss at 96.5): After being
stuck in a narrow trading range for over 6 weeks, the stock is finally on the
verge of a consolidation breakout. Volumes have already given a confirmation
of the ongoing positive upswing. Other momentum oscillators also indicate strength
in the current up move.
Derivative
Snippets: In the yesterday’s trade, markets
finally took a breather and ended the trade on a lackluster note. Nifty IT
index was the biggest loser as Indian Rupee surpassed its June 2015 high.
Short covering in Nifty 9000CE and short selling in 9000CE was witnessed.
FIIs were net buyers in cash market
segment to the tune of Rs 1141 crore.
FII’s index future long/short ratio at
3x. Long positions were created in Index options in yesterday’s day.
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Nifty Movers: The top gainers on Nifty were Adani Ports up by
3.24%, Tata Steel up by 2.61%, HCL Tech up by 1.81%, Hindalco up by 1.62% and
Tata Motors - DVR was up by 1.52%. On the flip side, BhartiAirtel down by
0.80%, Hero MotoCorp down by 0.56% and Reliance Industries down by 0.38% were
the few losers.
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Top
Sectoral& Stock Screening: The top gaining
sectoral indices on the BSE were Metal up by 1.67%, Capital Goods up by
1.32%, Industrials up by 1.31%, Basic Materials up by 1.18% and IT was up by
1.12%, while Telecom down by 0.07% was the lone losing index on BSE.The top
gainers on the Sensex were Adani Ports up by 3.58%, Tata Steel up by 2.41%,
Larsen & Toubro up by 1.66%, Infosys up by 1.27% and Wipro was up by
1.27%. On the flip side, BhartiAirtel down by 0.67%, Hero MotoCorp down by
0.50% and Reliance Industries down by 0.31% were the few losers.
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On the global front: On the global front, Global cues too provided
strength to domestic bourses with Asian markets rallying at this point of
time after the US Federal Reserve hiked interest rates, as expected, but signalled
‘gradual’ rises. The US markets bounced back in last session; with all the
major bourses posting gains of over half a percent.
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Global Signals:Asian markets were trading in green; KOSPI Index increased 11.64
points or 0.55% to 2,144.64, FTSE Bursa Malaysia KLCI gained 15.42 points or
0.9% to 1,732.78, Nikkei 225 rose 19.12 points or 0.1% to 19,596.50, Shanghai
Composite jumped 21.32 points or 0.66% to 3,263.08, Jakarta Composite surged
55.77 points or 1.03% to 5,488.15, Taiwan Weighted added 88.89 points or
0.91% to 9,829.20 and Hang Seng was up by 311.21 points or 1.31% to
24,104.06.
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