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Market Mantra Report as on August 11,2017

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august 11th,2017

Market Mantra Report


Major Headlines:

Market Summary:

Microeconomic Front:

Corporate Front:

Trading Ideas:

Events for the day:

Global Signals:

Sectoral& Stock Screening:


US stocks witness correction with Nasdaq falling over 2%. Gold rises along with bonds as clamor for safety gathers momentum. North Korean geopolitical risk rise which gives reason for markets globally to see much needed correction.






Major headlines:

·         RBI dividend to gobernment halves to Rs 30659 cr

·         Japanese firm to invest Rs 1000 cr in Andhra

·         IOC buys more U.S crude; First to purchase eagle Ford shale oil



Indian Indices:  Asian indices opened in the red for another day as fear saw stocks plummet with clamor for safety getting louder. Gold prices rose sharply with the asset hitting 3 month highs as defensive buying saw the price move up. With the Japanese markets shut the strength in the Yen trading at 109 would have seen further decline in export stocks.

Nifty breached 9800 briefly before closing above 9800 as the carnage on mid caps continue to weaken sentiment. Metals, IT and select Private Banks saw buying support while Pharma, PSU Banks and Auto's saw selling get stronger as weak results from Tata Motors and Eicher Motors hurt sentiment. For today expect weekend blues to play dampener as Rupee weakness, foreign selling and important bank results to keep sentiment weak.

The BSE Sensex is currently trading at 31312.09, down by 219.24 points or 0.70% after trading in a range of 31194.87 and 31355.92. There were 5 stocks advancing against 26 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index was down by 0.12%, while Small cap index was down by 0.41%.

The CNX Nifty is currently trading at 9745.40, down by 74.85 points or 0.76% after trading in a range of 9704.35 and 9757.55. There were 12 stocks advancing against 39 stocks declining on the index.




Group ATop Gainers




Price (Rs)

% chg













Group ATop Losers

















Technical view:  Nifty now finds support around 9700 which was the June resistance and faces strong resistance around 9850, while Bank Nifty looks set to breach 24200 and will find resistance around 23850 while 24500 will act as strong resistance. 




Ashok Leyland Aug Futs (Sell Below 103.50 with Stop Loss at 105 for Target of 98): The stock has constantly been under pressure for the past week and has finally broken down from a rising channel pattern on the daily chart. Other oscillators also indicate that current weakness is likely to extend. Ashok Leyland has also cracked below its 21-DMA support zone, which further accentuates our short term bearish stance on the stock.

Economy Snippets:

After the GST Council empowering the Centre to bring an amendment in the compensation law to increase ceiling on cess on the luxury cars, infuriating auto companies, the finance ministry ruled out lowering cess on hybrid luxury cars. (BS)

The government's capital expenditure will rise by 25 per cent to Rs 3.9 lakh crore by 2019-20, with defence outlay alone jumping 22%, according to the Mid-Year Review tabled in Parliament.

Varun Beverages board approved its intent to enter into a binding agreement to acquire PepsiCo India’s previously franchised territories of the State of Odisha and parts of Madhya Pradesh along with three manufacturing units at Cuttack, Bargarh and Bhopal (Mandideep).


Nifty Movers:      The top gainers on Nifty were Aurobindo Pharma up by 1.77%, Infosys up by 1.37%, GAIL India up by 1.23%, Tech Mahindra up by 1.23% and Wipro up by 0.61%. On the flip side, Vedanta down by 2.73%, Asian Paints down by 2.54%, Hindalco down by 2.44%, Larsen & Toubro down by 1.85% and ONGC down by 1.80% were the top losers.


Top Sectoral& Stock Screening:     The top gaining sectoral indices on the BSE were Realty up by 0.52%, IT up by 0.24%, Consumer Durables up by 0.14% and TECK up by 0.06%, while Capital Goods down by 1.18%, Metal down by 1.16%, Industrials down by 0.97%, Auto down by 0.94% and Consumer Disc down by 0.91% were the losing indices on BSE.



On the global front:         On the global front, Asian markets were trading in red, hit by tough language between North Korea and Washington that has sparked safe haven demand. China’s fiscal spending rose at a slower pace in July due mainly to larger expenditure earlier, but a government-led infrastructure push has kept spending brisk this year.

Global Signals:     The Asian markets were trading in red; Hang Seng decreased 559.01 points or 2.04% to 26,884.99, Jakarta Composite decreased 62.98 points or 1.08% to 5,762.97, Shanghai Composite decreased 45.96 points or 1.41% to 3,215.79, KOSPI Index decreased 41.59 points or 1.76% to 2,317.88, FTSE Bursa Malaysia KLCI decreased 8.6 points or 0.48% to 1,769.17 and Taiwan Weighted decreased 1.48 points or 0.01% to 10,328.26.


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