# Nifty ended at 10570.55 DOWN 43.80 and Sensex at 34501.27 DOWN 115.37 points
# Listed foreign funds pull out $91 mn from India
# India’s average GDP growth to rise to 7.8% in first half of this yr: Report
# Wipro Q4 profit down 7% QoQ; sees Q1 IT services revenue at $2,015-2,065 mn
# Reliance Nippon AMC Q4 net profit up 35% to Rs 162 cr
# IDBI Federal Life net jumps 94% to Rs 101 cr in FY18
# BPCL seeks LNG cargoes for July 2018-March 2019 » Read more
# Nifty ended at 10570.55 DOWN 43.80 and Sensex at 34501.27 DOWN 115.37 points
Benchmark indices opened lower, tracking negative trend in global stocks. The 30-share BSE Sensex was down 52.82 points at 34,563.82 and the 50-share NSE Nifty fell 21.10 points to 10,593.30. Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers. Hindalco, Cipla and HCL Technologies were under pressure. ICICI Prudential, Raymond, Idea Cellular, Advanced Enzyme, Bajaj Corp, MMTC, Parag Milk Foods, Coffee Day, Jubilant Life, Avanti Feeds, Granule India, Gati, Jaiprakash Associates, Indiabulls Ventures and Trent gained up to 5 percent. Uniply Industries gained 2 percent after block deal of 10 lakh shares. Balrampur Chini and Reliance Naval were under pressure.
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NIFTY FUTURE OVERVIEW
Technically, Nifty future now at very crucial level as it is testing various trend line support at current levels and also support of 200 moving average is also at current levels. We have witness heavy selling pressure in last 2 days in index which causes Nifty future to fall more than 250 points in just 2 days. Market movement is mostly driven by economic news either domestic or global and as Fed meeting on interest rate is due later this week which will impact market movement. We expect that Nifty future may test 10080-10040 levels and then started to bottom out. If Nifty future breaks 10040 levels then 9960-9930 will act as a strong support level for Nifty future in near term and if Nifty future bounces back from current level then we may see Nifty future to trade 10270 and then 10330 levels soon in near term
Nifty Over View March Series :-Best Share Market Tips
Near Term Support and Resistance level
Support of Nifty future is at 10080-10040 and 9930.
Resistance of Nifty future is placed at 10250 and 10330.
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- The market was MIXED during the week. The Sensex was DOWN 131.14 points while the Nifty was DOWN 0.31 % during the week. Nifty was in the range of 10180-10479
- The Dow Jones Industrial Average rose 72.85 points, or 0.29 percent, to end the week at 24,946.51, the S&P 500 gained 4.68 points, or 0.17 percent, to 2,752.01 and the Nasdaq Composite added 0.25 point, or 0 percent, to 7,481.99. Friday’s gains came at the end of a rocky week dominated by concerns of a US trade war with China and political turmoil, which began with the ouster of Secretary of State Rex Tillerson. The S&P 500 and the Dow Industrials rose on Friday, boosted by strong industrial output numbers but the Nasdaq was barely changed at Friday’s market close, though all three of Wall Street’s major indexes posted losses for the week. For the week, the Dow fell 1.57 percent, the S&P lost 1.04 percent, and the Nasdaq dropped 1.27 percent. February industrial production jumped 1.1 percent, the largest increase in four months. Investors were also looking ahead to next week, when the Federal Reserve is expected to raise benchmark US interest rates. Rate-sensitive sectors, such as utilities and real estate, rose on Friday, but they could perform poorly if rates increase sharply. Energy led the major sectors of the S&P 500 with a 1.0 percent gain, as oil prices rose 1.7 percent.
- For the week, the Sensex was DOWN 131.14 points while the Nifty was DOWN 0.31% during the week
- Nifty ended at 10220.30 DOWN 139.85 and Sensex at 33253.35 DOWN 432.19 points
- PSBs plan to tighten corporate lending norms for loans above Rs 250 crore
- India should see growth picking up after two transitory shocks: IMF
- HC refuses to ground entire fleet of IndiGo’s A320neo aircraft
- Maruti Suzuki may beat M&M in utility vehicles race this fiscal
- ITC to file 3rd FIR in Delhi against videos on plastic in ‘Aashirvaad Atta’
- CDSCO puts Wockhardt, two others under scanner for selling drug without clearances
- Nifty ended at 10426.85 UP 5.45 and Sensex at 33856.78 DOWN 61.16 points
- Railways’ spending-income gap highest in last 18 years: CAG report
- Life insurers see 17% growth in new premiums in April-February; non-life premiums grow 18%
- Lupin gets USFDA nod for Tydemy tablets
- Started process of spinning off Quess Corp’s shareholding: Thomas Cook
- Court allows Bank of Baroda to leave South Africa over Gupta links
- ACC-Ambuja announce agreement for supply of cement, clinker & raw materials
Indian Equity benchmark indices opened gap up today after US market ended its Friday session on positive note after US jobs data which help global market to gain bullish momentum today. Nifty future was opened above its crucial resistance level of 10300 today and after that it has tested 10300 levels but couldn’t sustain below that level. Consolidation for about 3 hours above the level of 10300 has given an indication of bullish which we have seen after the opening of European market which help Nifty future to close with 216.35 points gain at 10432.80 and Bank Nifty Future with a gain of 434.50 at 24747.75 and sensex with a gain of 610.80 points at 33917.94. Except PSU banks which close today session with a loss of 0.47% rest of the sectoral indices close today session with positive note in which FMCG sector ended today session with most gain of 2.62% followed by Metal sector which ended today session with gain of 2.14% today. Market breadth was positive today as 856 shares advances against 698 shares decline today and 70 shares were remained unchanged today at NSE. » Read more
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Friday Market Commentary
Indian Equity benchmark indices opened gap up today tracking positive global cues but did not break its crucial resistance level of 10300 which is crucial for further upward movement. Market was trading in downward channel pattern and was in consolidation phase after Nifty future has tested its resistance level but could not sustain around that level which shows negativity in the market and in later part of the day Nifty future fall nearly 90 points and ended today session with a loss of 26.50 points at 10216.45 and Bank Nifty future closes with 194.80 points down at 24313.25. We have witness stock specific movement on both side today but market breadth was once again negative as 582 shares advances against 958 shares decline today and 40 shares were remained unchanged. Today all indices were once again traded mixed in which IT sector gain the most by 0.51% followed by Media sector which gained by 0.46% today and in negative side both PSU Bank and Metal sector looses by 1.81%
Tech Mahindra, Bajaj Finance and HDFC were top Nifty 50 gainers today and Tata Steel, Axis Bank and Adani Ports were top losers today at NSE.
Monday Market Overview
Indian market will continue to trade on market sentiments and economic news whether it is domestic or global news. 24600 for Bank Nifty future and 10300 for Nifty future is still very crucial level and will decide market movements in coming days. We should advise traders and investors to buy fresh position only if this level breaks out as indices will be heading towards 10600 and 25500 in coming days and if indices don’t break through these crucial levels then there is possibility that we could see new 2018 low in benchmark Index. Stock Specific movement will continue to move and will give investors chance to earn in the market.
RESISTANCE & SUPPORT LEVELS -:
Support of Nifty future is placed at 10175 and 10120.
Resistance of Nifty future is placed at 10300 and 10410.
Support of Bank Nifty future is placed at 24240 and 23960.
Resistance of Bank Nifty future is placed at 24600 and 24820.
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