Pursue Opportunities in commodities at 10.30 AM:
Gold (+3, 1252). Positive Bias. Buy on dips.
MCX Gold (-0.27%, 31941) Positive Bias amidst strong USD/INR. Hurdles at 31901.
Silver (-03, 14.68). Buy on dips. Hurdles at 15.05.
MCX Silver (-0.05%, 38348) Positive Bias. Hurdles at 39601.
Crude Oil (+0.10, 51.10). Sentiments negative; prices now at 1-week low. The negative takeaway are that prices failed to extend Friday’s OPEC-led price surge. Hurdles at 55.
MCX Crude Oil (-1.62%, 3705). Intraday hurdles at 3838.
Copper (+0.013, 2.745). U.S- China trade war key catalyst.
MCX Copper (0.32%, 442). Strength seen only above 445.
NIFTY’s CRUCIAL LEVELS AT 10.00 AM, 11th December 2018:
Nifty’s CMP 10,371 (Down, 115 points). GLOOM DESCENDS ON DALAL STREET.
What Technical Tells Us On Nifty: The make-or-break intraday support levels are at 10,301 levels. Any close below 10,301 will trigger fresh wave of selling with intermonth perspective, targeting 9,950-10,000 zone
Nifty’s KEY SUPPORTS: 10,301 & 9,950.
Nifty’s KEY HURDLE: 10561-10707 zone.
Nifty’s INTRADAY RANGE: 10301-10501.
Nifty’s OUTLOOK FOR THE DAY: Caution advised as volatility continues to be the buzzword.
The unfortunate conclusion is that the Nifty’s Oct. 26 lows at 10,004 are likely to be broken. A reminder to bulls camp that stock markets do, and will, crash below Nifty 10,301.
MAKE INFORMED DECISIONS! MISSION IS TO MAKE MONEY!!
9.30 AM, 11th December 2018.(Nifty: 10351, Down 137 points):
Nifty tanks in early action as market participants show disappointment and shock resignation amidst RBI Governor Urjit Patel’s resignation. The Indian Rupee slumps to 72.21.
Amongst Reliance slips 2.41% to 1065, HDFC Bank down 2.14% to 2044 and KOTAK Bank down 1.74% to 1177.
Interestingly, SBI above the dotted lines amidst Vijay Mallay’s extradition, up 0.6% at 275.
9 AM, 11th December 2018.
WHAT CAUGHT OUR EYE AT 9 AM:
9 AM UPDATE, 10th December 2018: DOW FUTURES (-90, 24400) NASDAQ FUTURES (-32, 6667) SGX NIFTY (-157, 10361) NIKKEI (-119, 21100) HANG SENG (+106, 25859).
Counting of votes for has begun. As widely expected and as per early trends, Congress races ahead in Rajasthan, close fight seen in Madhya Pradesh & Chhattisgarh.
SGX Nifty continues to sob. The biggest support levels to watch on Nifty for the day are at 10,301.
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Let’s first look at major instruments.
8 AM GLOBAL UPDATE: DOW (+34, 24423) NASDAQ (+51, 7020) SGX NIFTY (-165, 10353) NIKKEI (-119, 21100) HANG SENG (+24, 25776) OIL (+0.24, $51.24) GOLD (+1, $1251)
Vidaya Balan once said, films do well only because of 3 reasons …entertainment, entertainment, entertainment
The day’s action at Dalal Street will be full of Volatility, Volatility, and Volatility and should bring joy to aggressive intraday traders who simply like wild actions. That’s because, the price action associated with today’s event will be the cleanest.
SUCCESSFUL INVESTING IS ANTICIPATING THE TRENDS OF:
Nifty’s Intraday Trend: Negative.
Global: Negative.
FII: Neutral.
DII: Negative.
F&O: Neutral.
Sentiment: Negative.
NIFTY’s CRUCIAL LEVELS FOR THE DAY:
Nifty’s CURRENT MARKET PRICE: 10,488.
Nifty’s KEY SUPPORTS: 10,301 & 10,001.
Nifty’s KEY HURDLE: 10,557 & 10,725.
Nifty’s INTRADAY RANGE: 10275-10557.
Nifty’s OUTLOOK FOR THE DAY: Negative.
AS PER OPTIONS DATA:
FII DATA:
Our call of the day is indicating that the warning bells are just getting louder and louder as the countdown to the poll results of five state elections begins. All anxious eyes will now turn to the assembly election outcome of the five states where counting of votes are about to begin!
Please note, for the day, the make-or-break support level on Nifty on closing basis is at 10,301 zone.
STOCKS BANNED IN FNO SEGMENT FOR TODAY: NIL.
IMPORTANT THEMES OF THE DAY:
HAVE A PROFITABLE TRADING DAY!
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