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Topic :- Share Market Closing Note
Benchmark indices recovered in last hour of trade to end rangebound session flat with negative bias as investors turned cautious after crude oil prices hit fresh three-year high.
Banks and auto stocks drove the market lower but that was offset by sharp rally in IT stocks ahead of TCS and Infosys earnings later this week.
The 30-share BSE Sensex snapped four-day winning streak to close down 10.12 points at 34,433.07 while the 50-share NSE Nifty fell for the first time in last seven sessions, ending down 4.80 points at 10,632.20.
The consolidation for last two sessions after fresh record highs indicated that investors may prefer to stay on sidelines ahead of earnings and Union Budget 2018.
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Topic :- Time:3.00 PM
Nifty spot close above 10650 will result in some quick upmove in coming trading session and if it closes below above mentioned level then some sluggish movement is expected. Avoid open positions for tomorrow if not recommended by us.
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Topic :- Time:2.30 PM
NATURALGAS Trading View:
NG is trading at 190.40. If it breaks and trade below 190 level then some softness can be seen in it and above 191.40 level some further upmove can follow in the market.
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Topic :- Time:2.00 PM
Nifty spot is trading at 10623 and is expected to turn more volatile soon. Nifty spot if manages to trade and sustain above 10630 level then some upmove is expected and below 10600 some fall can take place. Overall stocks are showing some strength now.
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Topic :- Time:1.45 PM
GOLD Trading View:
GOLD is trading at 29215. If it manages to trade and sustain above 29220 level then expect some further upmove in it however 29280-29300 will act as immediate resistance to watch out for and if it breaks and trade below 29180 level then some softness can be seen in GOLD.
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Topic :- Time:1.00 PM
Nifty is covering a bit. Nifty spot if manages to trade and sustain above 10620 level then expect some further upmove in the market and if it breaks and trade below 10600 level then some softness can follow in the market.
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Topic :- Time:12.30 PM
ALUMINIUM Trading View:
ALUMINIUM is trading at 137.60. If it manages to trade and sustain above 137.80 .level then expect some further upmove in it and if it breaks and trade below 137.30 level then some decline can be seen.
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Topic :- Time:12.10 PM
AirAsia CEO Tony Fernandes says India unit explores IPO:
Malaysia-based carrier AirAsia Bhds India unit is looking at a potential initial public offering, the groups chief executive, Tony Fernandes, said on Wednesday.
The company will seek approval at AirAsia Indias next board meeting to pick a banker to start the preliminary process for the IPO, Fernandes said on Twitter.
Analysts (are) giving zero value to AirAsia India. Not far from 20 planes and a potential IPO, Fernandes tweeted.
Its a very valuable asset with huge growth potential, he said.
AirAsia India, a tie-up between Asias biggest low-cost airline and Indias Tata Sons conglomerate, made revenue of 6 billion rupees ($94.24 million) in 2016 and expects revenue to double to 12 billion rupees in 2017.
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Topic :- Time:12.00 PM
Nifty trading lower now. Nifty spot if breaks and trade below 10580 level then expect some further decline in the market and if it manages to trade and sustain above 10625 level then some upmove can be seen in the Nifty.Nifty is quite volatile at the moment.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex turns flat after hitting new high, Nifty holds 10,600
2. Double-digit earnings growth for Nifty companies in Q3; base effect in play
3. India has enormous potential, says World Bank, projects 7.3% growth in 2018
4. Nissan-Renault partnership plans $1 bn fund for auto tech startups
5. RBIs first defaulter list: Liquidation value of steel firms at Rs 540 bn
6. Pharma companies focus on limited competition drugs for the US market
7. Markets welcome 2018 with a smart rally; BSE SmallCap up 3.5% so far
8. Mid-cap information technology firms outshine larger peers with 25%
9. Fundraising through SME IPOs hits all-time high, rises Rs 134.2 mn in 2017
10. Donald Trump, Modi may meet at Davos.
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Topic :- Time:11.00 AM
After positive opening nifty slides a bit in negative zone. Nifty spot if breaks and trade below 10600 level then further decline is expected and above 10640 nifty can show recovery.
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 10 Jan,2018:
Nifty is under consolidation state which is healthy for stock market. Soon Nifty is likely to head towards 10750-10800 levels. All declines should be used as an opportunity to go long.
Nifty spot if manages to trade and sustain above 10660 level then expect some upmove in the market and if it breaks and trade below 10600-10580 levels then some decline can follow in the market.
Please note this is just opening view and should not be considered as the view for the whole day.