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Market commentary 17-10-2017

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Topic :- Share Market Closing Note


Equity benchmarks ended rangebound session flat on Tuesday after the rally in previous three consecutive days, but the broader markets outperformed despite balanced market breadth.


The 30-share BSE Sensex snapped three-day winning streak, falling 24.48 points to 32,609.16 while the 50-share NSE Nifty ended at fresh record closing high of 10,234.50, up 3.60 points.


Experts feel the consolidation was warranted after a 800-point rally on the Sensex in previous three straight sessions, which may continue in near term as investors looked for more cues from earnings.


CLSA believes that a flattish trend on the market is likely to continue over the next few months.


The market breadth was almost balanced as about 791 shares advanced against 786 declining shares on the NSE.


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Topic :- Time:2.10 PM


YESBANK Trading View:

YESBANK is trading at 374.55. If it manages to trade and sustain above 375.50 level then expect quick upmove in it and if it breaks and trade below 373.50 level then some minor fall can follow however all lower levels should be used as an opportunity to enter long.


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Topic :- Time:1.50 PM


Result Update Q2 FY18


Bajaj Auto Q2 FY18 (YoY): PAT at Rs 1,194 Cr vs Rs 1,201 Cr (-1%). Revenue at Rs 6,566 Cr vs Rs 6,432 Cr (+2%).


ICICI Lombard Q2 FY18 (YoY): PAT at Rs 207 Cr vs Rs 171 Cr (+21%). Revenue at Rs 2,100 Cr vs Rs 1,950 Cr (+8%).


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Topic :- Time:1.30 PM




COPPER Trading View:

COPPER is trading at 461.50. If it manages to trade and sustain above 462.10 level then expect some upmove in it and if it breaks and trade below 460.80 level then some profit booking can be seen in the market.


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Topic :- Time:1.00 PM


Nifty just lost some of its shine however Nifty spot is likely to show quick upmove above 10260 and below 10200 some fall is further expected. All lows should be used as an opportunity to go long.


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Topic :- Time:12.45 PM


Just In:

Hatsun Agro Products up 4% on robust Q2 numbers.


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Topic :- Time:12.30 PM


GOLD Trading View:

GOLD is trading at 29700. If it breaks and trade below 29680 level then expect some fall in it and if it manages to trade and sustain above 29740 level then some upmove can follow in it.


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Topic :- Time:12.15 PM


Nifty is trading right at its immediate minor resistance of 10250-10260. Once Nifty manages to trade and sustain above 10260 level then expect another round of upmove in the market and if it breaks and trade below 10220 level then some profit booking can be seen in the Nifty.


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Topic :- Time:11.30 AM


News Wrap Up:

1. MCX launched Indias first gold options on Dhanteras.

2. Its a touch-and-go situation, nuclear war may break out any moment, says North Korea

3. Infra investment, bankruptcy reforms top priorities

4. ATMs to dispense new Rs 200 notes only by year-end

5. Items in 28% GST rate slab need to be pruned, says Hasmukh Adhia

6. RBI governor Urjit Patel calls for better access to currency swap lines

7. RIL plans to exit shale gas business in US

8. Coal shortage shuts 40% thermal power capacity in Rajasthan, Maharashtra

9. Sasken Technologies surges 13% on strong Q2 results

10. Sebi norms for settlement in commodity derivatives


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Topic :- Time:11.00 AM


After negative opening nifty is now trading in positive zone. Nifty spot if manages to trade and sustain above 10260 level then expect some further upmove and if it breaks and trade below 10220 level then some profit booking can be seen in the market.


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Topic :- Nifty Opening Note


Indian Stock Market Trading View For 17 Oct, 2017:


Diwali is just round the clock and Nifty is in no mood to spoil festive mood. Expect more fire work in the market.


Nifty spot if manages to trade and sustain above 10260 level then some further upmove is expected in the market and if it breaks and trade below 10160 level then some profit booking can follow in the market. 


Please note this is just opening view and should not be considered as the view for the whole day.

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