BUY RELIANCE INFRA FUTURE ABOVE 421 TARGET 426 WITH SL 416 TOTAL 7 LOTS
GET MORE PROFITABLE FUTURE TIPS WITH US
TO JOIN, CALL US @7879881122
OR VISIT MARKETMAGNIFY.COM
Indian equity market seems to enjoying see- saw rides, with the help of global markets, the entire global market has been in fear with the rise in the lira crisis and trade war along with the depreciation of rupee with other emerging market currencies around the world.
But Indian equity market had enjoyed a good run after open gap down on Monday and then recovers to close around all time high. Nifty future on Friday has made all time of 11507.45 and then closed the week at 11488.48. Both daily and weekly charts suggests that market still have strength in the upside but sideways movement will be expected throughout the week, with earning season almost at the end it will mainly the global market who will drive market movement in next week.
Nifty future may test 11600-11650 levels next week only if sustained above 11520 levels and in the downside crucial support levels at 10350 and 10200 levels.
Bank Nifty future may test 28600-28700 levels next week as it will face upward sloping trend line resistance around 28700 levels and weekly chart shows next week may be the week for bulls as China and US will meet to discuss on the important issue of trade war and any positive outcome will drive the market the new high’s.
Neither MACD nor RSI shows sell signal in daily or weekly charts nor do we believe that market trend has change; and any dips in the market around support levels will be opportunity to buy for the target of 10600-10650 for Nifty future and 28600-28700 for Bank Nifty future.
BUY GRASIM FUT ABOVE 1049 TARGET 1060-1070 WITH SL 1037
BUY BBTC ABOVE 1570 TARGET 1585-1600 WITH SL 1552
After seeing a strong start on the back of positive global cues, equity benchmarks have extended their gains. Banks are witnessing a strong rally, while buying counters are buzzing in sectors such as FMCG, metals, auto and pharmaceuticals. D-Street is getting support from midcaps as well, with the index currently trading higher by a percent. Among stocks, shares of Vedanta, ITC, Dr Reddy’s Labs and Indiabulls Housing are the top gainers, while Airtel, Bajaj Auto, and GAIL have lost the most. Shares of Jet Airways are up 3 percent as the airline announced the dates for declaring its June quarter results.
Indian market started today session with negative note due to global market as US stocks drop on downbeat earnings, trade tensions and after that today Asian markets declined following Wall Street after Chinese company reported a fall in quarterly profit. Today Rupee 1st time ever cross the historic psychological level of 70 per dollar the currency witnessed a depreciation of depreciated 10 percent in 2018 so far. Most of the market traded in sideways movement today with total advances of 685 shares and 1063 shares decline today and 323 shares unchanged today, but both nifty future and bank nifty future sustained above its crucial levels which is positive for Friday market » Read more
Today we had witness negative movement in Indian market mainly due to global market on trade war issues along with further weakness in Turkish lira and depreciating Indian rupee. IT and Pharma are the only sectors to trade in green today, with total advances of 573 shares 1179shares decline today and 326shares remain unchanged.Tuesday market is expected to trade in sideways movement with major support of Nifty future is around the level of 10340-10355 followed by 10200 and for Bank Nifty future is around 27800 followed by 27600.Do not worry for the opportunities as day traders will get opportunities in stock specific movement and swing traders just need to hold in this market and wait for the right time to entre. » Read more
Benchmark indices snapped two day’s losses and opened higher in today’s session. Today’s rally led by HDFC Twins, ITC, ICICI Bank and Axis Bank. The Indian rupee opened marginally higher at 69.85 per dollar on Tuesday, after ending at an all-time closing low the day before. Sensex was trading higher by 143 points at 37,788, and Nifty was up 41 points, trading at 11,397 mark. Shares of Ruchi Soya jumped 4.5% on the BSE in the morning trade after company posted Q1FY19 numbers. The company reported a net profit of Rs22.6cr for the quarter ended June 30.Repco Home Finance’s Q1FY19 NII has improved by 8% yoy to Rs114.3cr against Rs10.5.8cr in Q1FY18. The housing finance company’s standalone net profit was 6% below our estimates due to lower NII growth, which has increased by 8.8% yoy to Rs60.9cr against Rs56cr.
Today we had witness negative movement in Indian market mainly due to global market on trade war issues along with further weakness in Turkish lira and depreciating Indian rupee. IT and Pharma are the only sectors to trade in green today, with total advances of 573 shares 1179shares decline today and 326shares remain unchanged.
Tuesday market is expected to trade in sideways movement with major support of Nifty future is around the level of 10340-10355 followed by 10200 and for Bank Nifty future is around 27800 followed by 27600.
Do not worry for the opportunities as day traders will get opportunities in stock specific movement and swing traders just need to hold in this market and wait for the right time to entre.
WE SUGGEST YOU TO CLOSELY WATCH OUT FOR SUN PHARMA RESULT AS FOR SHORT TERM SUN PHARMA ARE THE ONE TO LOOK FOR AND ANY DIPS PROVIDED BY THE STOCK IS OPPORTUNITY FOR BOTH DAY TRADERS AND SHORT TERM TRADERS.
Major result Tomorrow- Atlanta, Atlas Cycle, Cox and Kings, DBL, Fin cables, Fortis Hospital, HDIL, Infibeam, Kolte Patil, Sun Pharma
Although bears took control of the NSE on Monday morning, the Nifty IT and Pharma indices surged close to 0.80% on the back of a retreating rupee. All top IT stocks were trading in the green, led by Tech Mahindra, MindTree and Tata Elxsi, which registered a gain of more than 2%. Meanwhile, most top pharma stocks advanced, with Cipla, Sun Pharma and Aurobindo Pharma up over 1%. Only Glenmark was down 0.72%, which can be attributed to its net profit declining 30% yoy in Q1FY19 and an ET report claiming that private equity firm True North Capital is in advanced talks to buy up to 20% stake in Glenmark’s active pharmaceuticals ingredient (API) business. A retreating rupee usually bodes well for Indian IT and Pharma companies because they mainly derive their share of revenues from exports.
FOR MORE PREMIUM TIPS, CALL US @7879881122 OR REGISTER HERE WWW.MARKETMAGNIFY.COM
As we had said market today traded in correction phase that we are talking about. Nifty future closes 48.30 points down at 11439.25 and Bank Nifty future closes at 185.15 points down at 28166.55. Movement in market has been witness after SBI announces its Q1FY19 result in which it shows a loss of 4876 cr due to its provision for bad loans rises more than 70%, poll has been expecting profit of 448 cr, which causes market to fall.
Further correction is expected only if Nifty future breaks down 11420 levels and after that support for the market is at 10355-10365 levels which are very much possible. Technical indicators are suggesting that market may show some more correction but stock specific movements will continue in the market. Accept delivery on selected stocks and trade with proper research and at proper time is the key to earn profit in this type of market,
Major result on Saturday- Amar raja Battery, Bajaj Steel, Balkrishna Ind, Coal India, Dalmia Bharat, Dcm Shiram, Finolex India, Godfry Phlp, India Cements, IOC, MRPL, Vadilal Ind