16:00 Hrs Update: Latest after the Closing Bell
Nifty (-120, 10672): Dalal Street tumbled in today’s trade as negative mood from Apple’s sales outlook was seen as key negative catalyst rippling worldwide stock markets.
The big question: Does entire worldwide stock market revolve only around Apple?
Honestly speaking, the tricksters will always have something to scare the crap out of the small market players.
Technically speaking, judging by today’s price action at Dalal Street, the make or break support level on Nifty for tomorrow’s trade is at 10,591. Below 10,591, again expect waterfall of selling towards 10,331-10,371 zone.
So, alarm bells only if Nifty tanks below the 10,591 mark.
Perma-bulls camp or aggressive buying advised only on any strength on Nifty above 10,871 mark.
Now before we sign off for the day, let’s look at major instruments.
DOW Futures (-156%, 22967)
NASDAQ Futures (-2.94%, 6189)
DAX (-123, 10458)
FTSE (-33, 6701)
OIL (-0.43, $46.11)
GOLD (+6, $1290)
DOLLAR INDEX (-0.12, 96.55)
COPPER (-31, 5842)
How Asia fared today:
HANG SENG (-65, 25064)
NIKKEI (CLOSED, 20015)
SHANGHAI (-29, 2465)
Nifty (-120, 10672)
Bank Nifty (-214, 26959)
SGX NIFTY (+0, 10720)
USD/INR (+0.01, 70.16)
15:00 Hrs Update: Where’s the Clever Money going at 3 PM?
Nifty (CMP 10679, Down 114 POINTS):
Amidst volatility, Nifty trades with negative bias, market breadth weak.
Stock specific buying advised only if Nifty moves above 10851.
Probable BTST/STBT trades
Bullish looking BTST stocks: BOI, OBC, TITAN, ICICI BANK
Bearish looking STBT stocks: BOSCH, SRTRANSFIN, SIEMENS, LIC HOSUING FIN, BAJAJ FINANCE (Weak below 2601), ACC, CANFINA HOMES, MOTHERSON SUMI, MINDTREE, RELIANCE INFRA.
14:00 Hrs Update: After Europe’s Opening Bell
The benchmark Nifty tumbles amidst weak global backdrop. There is fear everywhere about global growth concerns.
Nifty’s intraday support seen at 10645 mark. Buying advised only above 10851 mark.
DAX (-71, 10510)
FTSE (-17, 6717)
DOW Futures (-1.40%, 23003)
NASDAQ Futures (-2.45%, 6218)
HANG SENG (-65, 25064)
NIKKEI (CLOSED, 20015)
SHANGHAI (-29, 2465)
Nifty (-93, 10699)
Bank Nifty (-0.57%, 27025)
10:30 Hrs Update: Pursue Opportunities in commodities
Keep an eye on bullions. Buying on dips advised.
Gold (+6.50, 1290.60). Eyes 1300 mark. Positive Bias. Buy on corrective declines.
MCX Gold (+0.78%, 31856). Hurdles at 32300. Support seen at 31350.
Silver (-0.012, 15.637). Eyes 16.05. Buy on dips.
MCX Silver (+0.50%, 39324) Supports at 38700 and then at 38000. Hurdles at 40000.
Crude Oil (-0.78, 45.77). Oil inches up from oversold conditions. Hurdles at 47.50.
MCX Crude Oil (-2.85%, 3234). Hurdles at 3451.
Copper (+0.011, 2.614). U.S- China trade truce key catalyst.
MCX Copper (+0.71%, 409.30). Support at 398. Hurdles at 422.
10:00 Hrs Update: Nifty Crucial Levels at 10 AM
Nifty’s CMP 10,787 (Down 5 points).
What Technical Tells Us On Nifty:
Nifty’s KEY SUPPORTS: 10721/10645.
Nifty’s KEY HURDLE: 10871/10921.
Nifty’s INTRADAY RANGE: 10,701-10,845.
Nifty’s OUTLOOK FOR THE DAY: Upside to be capped at 10851-10871 zone.
Avoid aggressive long positions as Nifty could drift towards key support at 10645-10671 zone amidst weak global cues.
09:30 Hrs Update: Make Informed Decisions
(Nifty: 10763, Down 29 points): Nifty starts in red following weak sentiments prevailing at Asian stock markets
Nifty’s hurdles are now at 10851-10871 zone. Caution Advised.
Amongst stocks on positive side are: CIPLA (+0.72%, 518) INFRATEL (+0.72%, 266) INFY (+0.52%, 673)
On the negative side are HPCL (-2.57%, 2250) EICHER MOTORS (-2.22%, 20693) BPCL (-2.17%, 350).
09:00 Hrs Update: What Caught our Eye at 9 AM
Global Indices – DOW FUTURES (-1.18%, 23052) NASDAQ FUTURES (-1.93%, 6250) SGX NIFTY (+20, 10851) NIKKEI (CLOSED) HANG SENG (-64, 25066) SHANGHAI (+1, 2467).
U.S. stock futures sink. The mood is still somber as Apple cuts sales outlook fanning global growth woes. On a brighter note, Apple related growth concerns and economic worldwide weakness may force the U.S. and China to reach a deal sooner than expected.
For the day, investors need to take a more cautious approach for the day until hits the bottom at 10651-10671 zone. Establish long positions only on any intraday panic.
Bulls Vs. Bears: Time to Pick a Side!!
Preferred trade on Nifty (10793): Buy on any weakness between 10675-10701 zone, targeting 10851-10871 zone and then aggressive targets at 10921 and then at 11001-11111 zone with stop at 10551.
Preferred trade on Bank Nifty (27125): Buy between 26901-27001 zone, targeting 27501 zone and then aggressive targets at 27900-28001 zone with stop at 26451.
STOCKS TO WATCH:
Bullish stocks: TITAN, WIPRO, TCS, BEML, CUMMINS INDIA, BATA, SBI.
Bearish stocks: VEDANTA, EICHER MOTORS, M&M, HINDALCO.
08:00 Hrs Update: Calculus Derivatives Corner
• Nifty January Futures ended Wednesday’s session at a premium of +32 against +52.
• The Put- Call Open Interest Ratio was at 1.21 for Nifty whereas it was 1.27 for Bank Nifty.
• The Put-Call Volume Ratio was at 0.84 for the Nifty and 1.35 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 11200 Strike Price, followed by 11000 Strike Price for January Series. Call writing was seen at strike prices 10800-11500 for January Series.
• Maximum Put Open Interest (OI) was seen at strike price 10500 followed by 10700 strike price for January series. Short covering was seen at strike prices 10800-11000 for January Series.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 27000 Strike Price and Maximum Put Open Interest stands at 27500 Strike Price.
• As per Wednesday’s Provisional Data available on the NSE, FII’s sold shares worth Rs. 621.06 crores in the Indian Equity Market. DIIs too sold shares worth Rs. 226.18 crores in the Indian Equity market.
• Long Buildup: FEDERAL BANK, BEML, ASIAN PAINTS,
• Short Buildup: HINDALCO, TATA STEEL, M&M, BHARAT FORGE, JET AIRWAYS.
• Short Covering: ULTRATECH, SUN PHARMA, PIDILITE, UPL.
• Long Unwinding: NTPC, DHFL, ORIENTAL BANK, GSFC, RELIANCE.
• Stocks banned in F&O segment for today: ADANI POWER.
07:00 Hrs Update: Know What Matters at Dalal Street.
First things first: Let’s first look at major instruments.
DOW (+19, 23346)
NASDAQ (+31, 6666)
SGX NIFTY (+16, 10848)
NIKKEI (CLOSED, 20015)
HANG SENG (-64, 25067)
BOVESPA (+3125, 91012)
OIL (-0.65, $45.91)
GOLD (+4, $1288)
SUCCESSFUL INVESTING IS ANTICIPATING THE TRENDS OF:
NIFTY’s CRUCIAL LEVELS:
Nifty’s CURRENT MARKET PRICE: 10,793.
Medium Term: 10,551/10,333.
Long Term: 9,951.
Medium Term: 10,921/11,111.
Long Term: 12,001.
Medium Term: 10,551-11,111.
Long Term: 9,951-12,001.
Intraday: Sell on strength/Buy on any excessive panic.
Medium Term: Neutral.
Long Term: Positive.
Our call of the day which suggests amidst negative environment, downside risk on Nifty is mounting with traders eyeing next support at 10645-10675 zone. Please note, alarm bells only if Nifty tanks below the 10551 mark. That said, aggressive buying advised only on any strength on Nifty above 10871 mark.
Our chart of the day suggests establishing long positions in stocks like TITAN INDUSTRIES, TCS and UPL with interweek perspective.
IMPORTANT THEMES OF THE DAY:
SGX Nifty is indicating a muted open for our stock market after a poor day of trading at Dalal Street in yesterday’s trade
The sentiments for the benchmark Nifty was spooked by nervousness on backdrop of reports that Chinese manufacturing had weakened. Also hurting sentiments were sluggish December auto sales numbers and then revenue collection from Goods and Services Tax (GST) which fell to Rs 94,726 crore did not go well with the street. Investors were also seen cautious ahead of corporate results which will begin to roll in next week.
The only positive takeaway this morning is that overnight the Dow closed 19 points higher, recovering from an early plunge of 399 points that was primarily sparked by fears about China’s slowing economy.
But this morning Wall Street’s index futures were seen tumbling again and Asia looked set to decline after Apple Inc. added to global growth concerns by cutting its guidance. The positive takeaway from Apple related growth concerns is that it will be now harder for Trump to defend Trade war. Yes, the wild swings show that uncertainty will keep on gripping markets until U.S-China truce.
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