16:00 Hrs Update: Latest After the Closing Bell
Nifty (CMP 10890, UP 4 points): A quiet day at Dalal street but somehow a positive one. As the benchmark Nifty flirted with the 10900 mark in today’s trade, the hopes were high for a rally upto the much coveted psychological 11000 mark. But towards the end, we saw a dull closing near the dotted lines.
Now, on the turf of Q3 earnings, Mindtree is set to announce its Q3 results today. Consumer giants like Hindustan Unilever & Reliance will be announcing their results tomorrow. After British Parliament voted against the Brexit deal, the confidence vote is expected to be held at about 19:00 GMT. Amongst stocks looking attractive on buy side for tomorrow’s trade are YES BANK, INDUSIND, SUN PHARMA.
Now before we sign off for the day, let’s look at major instruments.
4.00 PM GLOBAL UPDATE:
DOW Futures (+55, 24073)
NASDAQ Futures (+1, 6666)
DAX (-19, 10893)
FTSE (-21, 6865)
OIL (-0.25, $51.86)
GOLD (+1, $1290)
DOLLAR INDEX (-0.05, 95.62)
COPPER (+0.028, 2.662)
How Asia fared today:
HANG SENG (+96, 26889)
NIKKEI (-43, 20463)
SHANGHAI (0, 2570)
SGX NIFTY (-18, 10925)
USD/INR (+0.09%, 71.16)
15:00 Hrs Update: Where’s the clever money going at 3 PM?
Nifty (CMP 10891, UP 4 points): Nifty now flirts with 10900 mark.
Probable BTST/STBT trades
Bullish looking BTST stocks: YES BANK, GRASIM, ICICI BANK.
Bearish looking STBT stocks: INFRATEL, UPL, HUL.
14:00 Hrs Update: Life at Dalal Street after Europe’s Opening Bell
Nifty trades below the 10900 mark but mostly remains in green
DAX (+31, 10909)
FTSE (+7, 6878)
DOW Futures (+76, 24095)
NASDAQ Futures (+2, 6667)
HANG SENG (+96, 26889)
NIKKEI (-23, 20483)
SHANGHAI (0, 2570)
Nifty (+9, 10896)
Bank Nifty (+102, 27502)
After scaling intraday highs above the 10900 mark, the benchmark Nifty is seen trading a bit sluggish. The next news in focus after Brexit vote is the confidence vote to be faced by Theresa May today.
12:00 Hrs Update: Top Stories at Mid Day
(Nifty 10905, Up 18 points): Trading at Dalal street started on a positive note taking cues from the Asian stocks. Nifty is however seen hovering around the 10900 mark after an initial up move, trimming early morning gains.
•Most of the sectoral indices are in green, with maximum gains seen among energy, banks and PSE sector.
•The market breadth, indicating the overall health of the market is positive.
•NSE Advances 26. NSE declines 24.
•The NSE Mid-Cap index is up 0.25% at 4,907. The NSE Small-Cap index is up 0.38% at 6473.
•In F&O space, IBULHSGFIN and WIPRO are in green, up 2.89% & 2.56% respectively, while on flip side UPL &ADANI PORTS are down 2.57% & 1.40% respectively.
•The rupee opened 1 paise lower at 71.06 against US dollar versus yesterday’s 71.04.
•Brexit no confidence vote is a major event which is to be held today.
10:30 Hrs Update: Pursue Opportunities at Commodities Corner
Copper price regains positive momentum
Gold (+0.95, 1289). Positive Bias. Buy on corrective declines.
MCX Gold (-0.06%, 32162). Hurdles at 32701. Support seen at 31601.
Silver (-0.013, 15.607). Buy on dips. Eyes 16.05 mark.
MCX Silver (-0.09%, 39532) Supports at 38801 and then at 37001. Hurdles 40000.
Crude Oil (-0.01, 52.10). Eyes 54 mark. Buy on declines.
MCX Crude Oil (+0.46%, 3707). Hurdles at 3901.
Copper (+0.027, 2.679). U.S- China trade truce key catalyst.
MCX Copper (+0.56%, 418.85). Downside risk at 406. Hurdles at 436.
10:00 Hrs Update: Nifty Crucial Levels Watch
Nifty’s CMP 10,920 (UP 33 points). Bulls continue to dominate trading screens.
The big question: Where is the intraday support on Nifty?
Well, Nifty key intraday support now seen at 10821. We expect bulls to simply rock in today’s session aiming 11000 mark.
What Technical Tells Us On Nifty:
Nifty’s KEY SUPPORTS: 10821/10744/10601.
Nifty’s KEY HURDLE: 11001/11,111.
Nifty’s INTRADAY RANGE: 10,885-11021.
Nifty’s OUTLOOK FOR THE DAY: Major weakness only below 10821.
09:30 Hrs Update: Make informed Decisions!!
(Nifty: 10919, UP 34 points):
Hopes of a rate cut bolster bullish sentiments.
All eyes now on Nifty 11000 mark.
Amongst stocks on positive side are: WIPRO (+5.52%, 329), YES BANK (+3.92%, 203), TECHM (3.88%, 706)
On the negative side are MARUTI (-0.72%, 7355), ICICI BANK (-0.16%, 372) BHARTI INFRATEL (-0.12%, 279).
09:00 Hrs Update: What Caught our Eye at 9 AM?
DOW FUTURES (+0.04%, 23994)
NASDAQ FUTURES (+0.01%, 6678)
SGX NIFTY (-23, 10921)
NIKKEI (-185, 20370)
HANG SENG (-48, 26782)
SHANGHAI (-3, 2568).
STOCKS TO WATCH:
Bullish stocks: DLF, PIDILITE, ESCORTS, COLPAL, BATA, TITAN, DIVIS LAB, RIL.
Bearish stocks: BOSCH, MOTHERSON SUMI.
SHOW ME THE MONEY: BUY DLF (CMP: 186?). DLF is signaling a major rebound from an oversold zone on the daily charts. Key support seen at 177 zone. Key hurdles seen at 195. Interweek Strategy: Buy at CMP, targeting 193 and then at 203-205 zone. Stop below 177..
Q3 RESULTS TO TRICKLE IN THIS WEEK:
• 16-Jan: Mindtree, Philips Carbon Black, HT Media, DCB Bank
• 17-Jan: Hindustan Unilever, Federal Bank, Reliance Industries, Cyient, Rallies India, UCO Bank, L&T Technologies, Mastek.
• 18-Jan: Atul Limited, NIIT Technologies, Muthoot Finance, Kajaria Ceramics, Wipro.
Bulls Vs. Bears: Time to Pick a Side!!
A consolidation day likely.
Preferred trade on Nifty (10887): Buy between 10821-10845 zone, targeting 10921 and then at 11001 and final aggressive targets at 11111 mark with stop at 10741.
Preferred trade on Bank Nifty (27401): Key intraday support at 27100. Confirmation of strength only above 27751. Buy at CMP, targeting 27751 and then aggressive targets at 28001-28251 zone with stop at 26901.
08:00 Hrs Update: Calculus Derivatives Corner
Nifty January Futures ended Tuesday’s session at a premium of +38 against +31.
The Put – Call Open Interest Ratio was at 1.29 for Nifty whereas it was 1.25 for Bank Nifty.
The Put-Call Volume Ratio was at 1.01 for the Nifty and 1.19 for Bank Nifty.
For Nifty, Maximum Call Open Interest (OI) stands at 11000 Strike Price, followed by 11100 Strike Price for January Series. Short covering was seen at strike prices 10700-11000 for January Series.
Maximum Put Open Interest (OI) was seen at strike price 10500 followed by 10700 strike price for January series. Put writing was seen at strike prices 10500-10800 for January Series.
For Bank Nifty, Maximum Call Open Interest (OI) stands at 27500 Strike Price and Maximum Put Open Interest stands at 27500 Strike Price.
As per Tuesday’s Provisional Data available on the NSE, FII’s bought shares worth Rs. 159.60 crores in the Indian Equity Market. DIIs too bought shares worth Rs. 417.44 crores in the Indian Equity market.
Long Buildup: INFY, RELIANCE, DLF, KPIT, YES BANK.
Short Buildup: DABUR, VOLTAS, CEAT, MARUTI, CANBK.
Short Covering: JSW STEEL, ENGINEERSIN, VEDL, COLPAL, DHFL.
Long Unwinding: HAVELLS, STAR.
07:00 Hrs Update: Know What Matters at Dalal Street at 7 AM
DOW (+156, 24065)
NASDAQ (+118, 7023)
SGX NIFTY (-17, 10926)
NIKKEI (-131, 20424)
HANG SENG (-127, 26702)
BOVESPA (-418, 94056)
OIL (-0.25, $51.85)
GOLD (+1, $1290)
SUCCESSFUL INVESTING IS ANTICIPATING THE TRENDS OF:
NIFTY’s CRUCIAL LEVELS:
Nifty’s CURRENT MARKET PRICE: 10,887.
Medium Term: 10,601/10,333.
Long Term: 9,951.
Medium Term: 11,11/11,751.
Long Term: 12,001.
Medium Term: 10,501-11,111.
Long Term: 9,951-11,701.
Medium Term: Positive.
Long Term: Positive.
Our call of the day suggests if you are not long, then you are dead wrong. The technicals are aggressively bullish for benchmark Nifty. Technically, the daily charts of Nifty is depicting a ‘Bullish Diamond’ pattern which could take the benchmark towards 11,111 mark.
We suspect, most of the momentum stocks that had caught a winter chill should now perform.
Our chart of the day establishing buy positions in stocks like COLPAL, DLF & VEDANTA with interweek perspective.
IMPORTANT THEMES OF THE DAY:
The positive catalyst boosting sentiments are encouraging global cues on backdrop of People’s Bank of China statement that it will increase efforts this year to stimulate its economy by improving credit availability for small companies and cut taxes.
Helping sentiments on the positive side is the wholesale inflation which eased to an eight-month low in December, strengthening views that the RBI could ease its monetary policy stance next month. Rate cut also need of the hour as the latest IIP report indicate slowdown in manufacturing.
Hopes of rate cut could be the key bright theme for our stocks in near term.
The positive takeaway is that the sentiments appears to be unmoved by the overwhelming defeat in Parliament of U.K. Prime Minister Theresa May’s Brexit plan. The said defeat leaves U.K in a state of uncertainty about not only the future of its planned exit from the European Union, but possibly also about who will lead the British government.
Q3 EARNINGS TO TRICKLE IN TODAY: Mindtree, Philips Carbon Black, HT Media, DCB Bank.
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