Markets Update: Latest After the Closing Bell

15:30 Hrs: Latest After the Closing Bell

Nifty (+47, 11690): Dalal Street largely rallies, as Nifty inches closer towards 11761 mark.

The benchmark Nifty was seen holding tight just shy away from its record highs at 11761 mark as investors bank on renewed hopes of U.S-CHINA trade-deal.

On Saturday, U.S. Treasury Secretary Steven Mnuchin told reporters that the U.S. and China were moving closer to an agreement on trade.

Nifty ended the day, up 0.30% at 11678. The positive takeaway was that the market breadth was positive.

4.00 PM GLOBAL UPDATE:

DOW Futures (+40, 26448)
NASDAQ Futures (+0, 7652)
DAX (+8, 12008)
FTSE (+3, 7440)

OIL (-0.55, $63.35)
GOLD (-6, $1288)
DOLLAR INDEX (-0.10, 96.83)
COPPER (-24, 6483)

How Asia fared today:

HANG SENG (-99, 29811)
NIKKEI (+299, 22169)
SHANGHAI (-11, 3178)

Nifty (+47, 11690)
Sensex (+139, 38906)
Bank Nifty (+166, 30104)
SGX NIFTY (+0, 11692)
USD/INR (+0.21, 69.38)

Before we end the day, here are the firm reporting Q4 this week:

A. Monday: TV 18 Broadcast, Tata Metaliks, Tinplate.
B. Tuesday: Wipro, Mastek, Den Networks.
C. Wednesday: Mindtree, Crisil, Tata Steel BSL ltd,
D. Thursday: DCB Bank, ICICI Lombard, Majestic Auto, RBL Bank, Reliance Industries.
E. Friday: Tata Coffee.
F. Saturday: HDFC Bank.

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15:00 Hrs: Where is the Clever Money Going?

Nifty (+52, 11696): Bulls day out.

Dalal Street trades with conviction on buy side, and the positive takeaway is that the street is unfazed by sudden drop in Asian stock markets.

Nifty is trading at day’s high. The gyan mantra is to trade selective on buy side.

Probable BTST/STBT trades:

Bullish looking BTST trades: INDIGO, DIVIS LAB, TATA ELXSI, KOTAK BANK, RELIANCE INDUSTRIES, ICICI BANK, M&M, TVS MOTORS, SBI.

Negative looking STBT trades: LIC HOUSING FINANCE, CEAT.

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14:00 Hrs: Life at Dalal Street after Europe’s Opening Bell

Nifty (+49, 11692): Nifty Racing Higher

Dalal Street trades with a positive bias on renewed hopes of U.S-CHINA trade-deal hopes. On Saturday, U.S. Treasury Secretary Steven Mnuchin told reporters that the U.S. and China were moving closer to an agreement on trade.

This optimism is in the backdrop of positive Wall Street cues in Friday’s trade where major market indices notched gains on a backdrop of series of strong bank earnings, led by JPMorgan that boosted confidence in the U.S. economy.

We suspect – worldwide investors will spy with one big eye and ponder over how this earning season will pan out.

Obviously, the earnings season is important as will portray fresh clues about the trajectory of the global economy.

Meanwhile, the positive takeaway as of now is that the market breadth, indicating the overall health of the market was positive.

DAX (-5, 11993)
FTSE (-13, 7424)

DOW Futures (-14, 26394)
NASDAQ Futures (-9, 7643)

HANG SENG (-99, 29811)
NIKKEI (+299, 22169)
SHANGHAI (-11, 3178)

Nifty (+49, 11692)
Sensex (+150, 38917)
Bank Nifty (+192, 30130)

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12:00 Hrs: Dalal Street’s Top Stories at Midday

(Nifty 11674, Up 30 points): Supported by positive global cues, the key benchmark indices have extended their gains. Markets are expected to remain volatile in the near term till investors get more clarity from the ongoing elections.

As far as direction is concerned, no brainer we are still in a strong uptrend. We may see a few hiccups, but one should not get intimidated by such declines.

Any corrective decline should be considered as healthy and should be used as an opportunity to initiate long positions.

• India’s industrial production (base year 2011-12=100) growth moderated sharply to a 20-month low of mere 0.1% in February 2019, compared with 1.4% growth recorded in January 2019. The industrial production growth for January 2019 has been revised downwards from a 1.7% increase reported provisionally.

• Asian shares were trading higher. Investors’ cheered Chinese data on Friday showing exports rebounded in March to a five-month high while new bank loans jumped by far more than expected.

• US stocks closed higher Friday after a series of strong bank earnings boosted confidence in the US economy.

• US import prices rose sharply in March for the second straight month. The import price index climbed 0.6% last month after a revised 1% gain in February. Further, the University of Michigan said its consumer sentiment index fell to 96.9 in April.

• Barring Pharma, rest all the sector indices are in green.NSE Metal followed by NSE Realty being the star performers in today’s session.

• The market breadth, indicating the overall health of the market is Positive.

• NSE Advances: 29. NSE declines: 21.

• The NSE Mid-Cap index is Up 0.48% at 5,086. The NSE Small-Cap index is Up 0.88% at 6,799.

• INDIA VIX index representing volatility is up to 21.90 (+4.33 %)

On the Positive side: TATAMOTORS at 225.65 (+4.49%),TCS at 2078.30 (+3.17%), and TATA STEEL at 548.55 (+2.79%),are in green,

• On the flip side: INFY at 720.70 (-3.62%), SUNPHARMA at 459.20 (-1.26%) & IOC at 153.85 (-0.97%).

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10:00 Hrs: NIFTY’S CRUCIAL LEVELS

Nifty (+31, 11675): Nifty inches towards its all-time-high at 11761 mark.

As mentioned, Nifty is marching towards its key hurdles at 11761 mark. The market breadth, indicating the overall health of the market, was strong

What Technical Tells Us On Nifty:
Nifty’s KEY SUPPORTS: 11631/11601.
Nifty’s KEY HURDLE: 11705/11761.
Nifty’s INTRADAY RANGE: 11631-11731.
Nifty’s OUTLOOK FOR THE DAY: Buy aggressively on any corrective declines.

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07:00 Hrs: Know What Matters at Dalal Street at 7 AM!!

7 AM GLOBAL UPDATE:

DOW (+269, 26412)
NASDAQ (+37, 7984)
SGX NIFTY (-3, 11689)
NIKKEI (+257, 22129)
HANG SENG (+330, 30240)
BOVESPA (-1879, 92875)
OIL (-0.37, $63.51)
GOLD (-4, $1290)

SUCCESSFUL INVESTING IS ANTICIPATING THE TRENDS OF:

Global: Positive.
FII: Positive.
DII: Neutral.
F&O: Positive.
‪Sentiment: Positive.

NIFTY’s CRUCIAL LEVELS:

Nifty’s CURRENT MARKET PRICE: 11,643.
Nifty’s SUPPORT:
Intraday: 11581/11521/11471.
Medium Term: 11,421/11,171.
Long Term: 10,251.
Nifty’s RESISTANCE:
Intraday: 11761/11821.
Medium Term: 11,901/12,001.
Long Term: 12,501.

Nifty’s RANGE:

Intraday: 11,611-11711.
Medium Term: 11,201-11,901.
Long Term: 10,900-12,501.

Nifty’s OUTLOOK

Intraday: Buy on early dips.
Medium Term: Positive.
Long Term: Positive.

Our call of the day which suggests that the benchmark Nifty is most likely to hit its all-time- high at 11761 mark and probably after that only its time worry.

We still suspect that a positive end to US-China trade dispute can drive optimism at world-wide stocks markets and thus shedding worries of global growth.

Also, the positive takeaway from last week’s trade is that the street is seen focusing on forthcoming earnings and most importantly, the chatter around recession fears look to be a distant memory.

Meanwhile, Nifty’s make-or-break support for today’s trade is at 11589. Below 11589 mark, Nifty likely to slip towards 11471 mark.

Our chart of the day suggests establishing long positions in stocks like AXIS BANK, AMBUJA CEMENTS; VGUARD on any early weakness.

IMPORTANT THEMES FOR THE DAY:

1. INFY and TCS started with the ceremonial starters’ pistol of 4th quarter earnings season
on Friday, 12th of April 2019.
A. INFY Q4 PAT was up 13%, but the firm lowered growth guidance for FY20.
B. TCS meanwhile reported earnings better than street expectations. TCS’s revenue grew 18.5 percent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.

2. Amongst macroeconomic data, Consumer Inflation (CPI) picked up to 2.86% In March 2019. The IIP data showed that growth in factory output plunged to less than 0.1% in February.

3. Wall Street rallied in Friday’s session with all three major market indexes notching gains on backdrop of series of strong bank earnings, led by JPMorgan that boosted confidence in the U.S. economy.

Outlook for Monday: Buy on any early declines.

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