Market Magnify :-Stock Market Commentary 15/12/2017

Equity benchmark indices opened on positive note on last day of the week after the exit poll results indicated that BJP will likely to win in Gujarat and Himachal Pradesh assembly election. But after gap up opening market was range bound mainly because of investors are waiting for Gujarat assembly results due on 18th December. We have also seen Indian rupee rises 19 paise to 64.15 against dollar today.  

HDFC Bank, Mahindra & Mahindra and Maruti Suzuki hit fresh record highs today, rising 2.6 %, 2.1 % and 0.7 %, respectively. » Read more

Market Magnify :- Share Market Commentary 14/12/2017

Equity benchmark indices start the day by gap up opening after US Fed hikes rate by 25 bps and also raises growth outlook and then market was in mood of roller costar tracking Asian market, market movement was sideways as in first half Nifty future falls nearly 90 points from day high and in second half Nifty future zooms up nearly 130 points from day low to close 60.90 points up from previous day close. There was something for everyone in the market as market has given opportunities for buy side and sell side trader. November WPI inflation increased to 3.93 percent against 3.59 percent in previous month.

The Sensex closed up by 193.66 points at 33246.70 and the Nifty future up by 60.90 points at 10276.10.market » Read more

Market Magnify :- Stock Market Commentary

Equity benchmark indices open last day of the week on positive note and traded in a bullish trend for the rest of the day. Benchmark indices ended the week on strong note after RBI monetary policy changes the trend of the market. Sensex closed at 33250.30 up by 301.09 points at 32832.94 and Nifty future closed 87.05 points up at 10290. » Read more

Stock Market Commentary By Market Magnify

Equity benchmark indices trades range bound today as investors waits for RBI policy on Wednesday this week and midterm review of foreign trade policy. Sensex closed at 32869.72 up by 36.78 points at 32832.94 and Nifty future closed 11.75 points up at 10166.

Biocon gain more than 14 % percent as the US FDA approved Mylan and Biocon’s Ogivri, the first biosimilar for Trastuzumab, for the Treatment of HER2-Positive breast and gastric cancers. » Read more

Stock Market Commentary

BLOG_MarketCommentaryEquity benchmark indices starts December month series on negative note. It was only start of the day where market is positive thanks to encouraging Q2 GDP data and rest of the day market was in bearish trend as investors were cautious ahead of RBI policy, FOMC meet and Gujarat Assembly elections. Due to which Sensex closed below 33000 mark, down by 316.41 points at 32832.94 and Nifty future closed 123.95 points down at 10188.75.

All sectoral indices closed in green in which PSU banks feel the most by 2.33% followed by Media and Reality at 1.99% and 1.98% » Read more

Stock Market Commentary

Equity benchmark indices open on negative note tracking Asian market on last day of the month and continue its down trend throughout the day as we said Nifty future is moving in a channel and breakout on either side will attract directional movement. India reported a fiscal deficit of Rs 5.25 lakh crore for April-October, or 96.1 % of the budgeted target for the current fiscal year that ends in March 2018.The deficit was 79.3 % of the full-year target during the same period a year ago, which causes indices to fall in last hour of the day.

Reality is the only sector which ended with a gain of 1.12% rest of the indices closed in red in which PSU banks fell the most by 2.31% followed by private bank by 1.81%.

Gail, Bosch and Idea were the top gainers, while UPL, Hindalco and SBI lost the most.

Tomorrow market will depend on national and international data as investors for GDP data for july-sept quarter, government well unveil midterm review of the foreign trade policy today and also outcome of OPEC meetings will impact tomorrow market.

We like to advise traders and investors to remain caution as Nifty future had breakdown its channel support level and be stock specific and to do proper study before investing and looking at this uncertainty, we advise traders to remain light and follow strict stop losses for existing positions

RESISTANCE & SUPPORT LEVELS -:

Support of Nifty future is placed at 10190 and 10050.

Resistance of Nifty future is placed at 10350 and 10440.

Support of Bank Nifty future is placed at 25230 and 25090.

Resistance of Bank Nifty future is placed at 25660 and 26010.

For more information visit our site www.marketmagnify.com  or missed call 7879881122.

Stock Market Commentary

Equity bench1Aamark indices open on flat note tracking Asian market before expiry day and continue its sideways movement throughout the day as November contracts expiry due on Thursday also caused volatility in the market. Nifty future close at a discount of 7 points at 10354.15 with a loss of 23.40 and Nifty spot close at 10361.30 with a loss of 8.95 and also bank nifty future close at a discount of 6.70 points. The Equity benchmark index attempted to give upward movement, although the index traded above their respected day high, the bulls clearly failed to push the prices higher as the index heavyweights were not participating in the up move.

As we said Nifty future is moving in particular channel, sideways movement is expected before expiry day. After 2 months of relative peace, North Korea launched its most powerful weapon on early Wednesday, which is the biggest concern right now for the market.

Looses were seen in PSU Bank and Media sector both indices down by 0.93% and 0.41%, major gain were seen in reality sector which closes with a gain of 0.89%

Wipro, Sun Pharma, Bosch and Bharti Infratel were the top gainers, while Axis Bank, Asian Paints, and Zee Entertainment lost the most.

North Korea weapon lounged is the biggest concern for the market as investor and big institution will want to close their long position in the market and this will add selling pressure. Since, we are now approaching current month expiry, we expect volatility to pick up and hence, one needs to be very selective while entering into a trade and we would like to advise investors and traders to avoid carry your long position till global tension remains.

If we closely observe today Nifty future price action, Nifty future tried to hold 10400 mark but turned unsuccessful and now is near channel support level 10330 and breakdown of which will result in directional movement and if it doesn’t break down its channel support level we can see recovery in equity indices. 

RESISTANCE & SUPPORT LEVELS -:

Support of Nifty future is placed at 10330 and 10265.

Resistance of Nifty future is placed at 10440 and 10530.

Support of Bank Nifty future is placed at 25700 and 25550.

Resistance of Bank Nifty future is placed at 26010 and 26140.

For more information visit our site www.marketmagnify.com  or missed call 7879881122.

MARKET COMMENTARY AS ON 28th NOV

Barring last couple of hours, the entire day’s activity was quite lackluster as the index remained in a small range for major part of the day. Tuesday market was quite similar to Monday market as market had given gap down opening then market is in consolidate phase till opening of European market and then the only difference come between two days is that in last couple of hours market was in bullish trend on Monday and on Tuesday market was in down trend. As we suggested market is moving in a particular channel and on Tuesday market tested its channel resistance level and then corrected from there which resulted sensex closed with a loss of 105.85 points at 33618.59 and Nifty future closed with a loss 44.85 points of 9.15 at 10373.65.

Major Looses were seen in Pharma and Reality sector both indices down by 0.54% and 0.44%, major gain were seen in Media sector which closes with a gain of 0.71%

Zee Ent, Maruti Suzuki and Asian paints were the top gainers today and Bharti infratel, Auro pharma and NTPC were the top losers.

MARKET OUTLOOK FOR NEXT DAY

Nifty future is moving in channel and breakout on either side will give investors clear trend where Nifty future is heading and directional move in Nifty Future could be expected soon. Market is majorly stock specific from last week as quarterly results are also over and we are heading towards expiry, sideways movement is expected till expiry and also investors is waiting for two main events next month i.e. RBI monetary policy and Federal Reserve will be in focus for U.S monetary policy as investors will look for fresh clues for market trend ahead.

Movement in Indian indices is looking sideways for Wednesday session as well as till Nifty future breakout on either side of the channel. Key support for Nifty future is 10330 and resistance is 10440

RESISTANCE & SUPPORT LEVELS -:

Support of Nifty future is placed at 10330 and 10265.

Resistance of Nifty future is placed at 10440 and 10530.

Support of Bank Nifty future is placed at 25800 and 25650.

Resistance of Bank Nifty future is placed at 26010 and 26140.

For More Share Market News & Updates Visit – www.marketmagnify.com or Miss call @7879881122

TODAY’S MARKET COMMENTARY UPDATE

12mmfter gap down opening Indian equity benchmark indices is in consolidation phase after the S&P reaffirmed India rating and weak Asian market. After opening of European market found some momentum and Late recovery helps Indian market indices to close in green for 8th consecutive session which is led by banking and financial sector as sensex closed with a gain of 45.20 at 33724.44 and Nifty future closed with a gain of 9.15 at 10418.50. Nifty midcap rose half a percent to end at record high.

Looses were only seen in Nifty metals and FMCG sector both indices down by 0.69% and 0.25%, rest of the indices end with little gain in which Nifty Media closes with gain of 2.19%.

Ntpc, Axis Bank and Zee Ent were the top gainers today and Hpcl, Adani Ports and Infosys were the top losers.

Market is looking in consolidation to bullish trend for Tuesday session as well as Nifty future and Bank Nifty future both closes above its resistance level and also technical indicator shows bullish trend is not over yet. As we had seen from 17 Nov Nifty future is moving in particular channel and to continue its bull run it has to break channel resistance level of 10440-10450 which is very crucial and bank nifty future crosses its hurdle of 25890-25920 level today and closes at 25938.80, which had been strong resistance zone. Federal reserve will be in focus for U.S monetary policy this week as investors will look for fresh clues for market trend ahead.

Trading strategy for Tuesday will be buy on dips as market trend is looking consolidate to bullish but major resistance level will be 10450 for Nifty.

Support of Nifty future is placed at 10330 and 10265.

Resistance of Nifty future is placed at 10430 and 10530.

Support of Bank Nifty future is placed at 25880 and 25650.

Resistance of Bank Nifty future is placed at 26010 and 26140.

Market Commentary as on 21-Nov.-2017

Indian benchmark indices ended the session12mm on a positive note. Nifty future closes with gain of 31.15 points at 10351.90 and sensex closes with a gain of 118.45 points at 33478.35. After gap up opening market was in consolidation phase and after 2 pm Indian indices started falling tracking weakness in European stocks due to German political uncertainty.

 

Nifty pharma ended the session with gain of 2.22% followed by Nifty media closes with 0.87% gain and Nifty reality closes with a gain of 1.14%

DR Reddys, Sun pharma and Tech Mahindra are the top gainers today and Coal India, ITC and Ambuja Cements are the top losers.

Nifty is in sideways movement and weakness in European stocks due to political uncertainty can further drive market in downside. Although Bank Nifty has been an outperformer during last week but we have seen stock specific movement within banking stocks. Traders are advised to follow stock specific movements and for index Last Week Friday gap area is considered strong support zone in near term.

Trading strategy for Wednesday will be buy on dips as market trend may be consolidate to bullish till market breakdown the gap area.

Support Of Nifty Future is placed at 10310 and 10265.

Resistance Of Nifty Future is placed at 10390 and 10510.

Support Of Bank Nifty Future is placed at 25740 and 25550.

Resistance Of Bank Nifty Future is placed at 25940 and 26010.

For More Share Market News & Updates Click here –  www.marketmagnify.com or Give Miss call @7879881122

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