TRAIL STOP-LOSS TO 15460

 

TRAIL STOP-LOSS TO 15460

 

WORLD MARKETS

 

US equity benchmark indices gained 0.1% each.

 

Brent crude rose 1.6% to $71.35 while WTI crude futures advanced 1.64% to settle at $68.83 per barrel.

 

US 10-year treasury yield ticked 2.2 basis points lower to 1.593%. Dollar index, after rising to 90.25, eased to end flat at 89.91. Spot gold rose 0.4% to $1,906.80 per ounce.

 

European markets gained 0.2%-0.5%. Eurozone producer prices rose by 1% month-on-month and 7.6% annually, slightly exceeding economist expectations.

 

AT HOME

 

After falling more than half a percent, benchmark indices rebounded in late noon trade to end flat to marginally lower. Sensex settled at 51849, down 85 points while Nifty added 1 point to finish at 15576. Nifty mid-cap index climbed 1.4% to hit record high while small-cap index surged 1.3% to notch the highest close since 23rd January 2018. BSE Power and Energy indices were the top gainers among the sectoral indices, rising 1.8% each while Teck index was the top loser, down 0.6%, followed by 0.5% lower IT and FMCG indices.

 

FIIs net bought stocks and stock futures worth Rs 921 cr and 65 cr respectively but net sold index futures worth Rs 1107 cr. DIIs were net buyers to the tune of Rs 242 cr.

 

Rupee depreciated 19 paise to end at 73.08/$.

 

OUTLOOK

 

Today morning, Nikkei is up half a percent while Hang Seng and Shanghai are marginally in the red. SGX Nifty is suggesting around 80 points higher start for our market.

 

In yesteday's report we had said that 15661, the top made Tuesday, was the immediate hurdle while 15375 was the immediate support, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a low of 15460, rebounded to end at 15576 and is set to open above 15650 today.

 

Above 15661, which was the top made Tuesday, 15850 would be the next upside target.

 

15460, the low made yesterday, would now act as immediate support, with the stop-loss of which, trading longs can be held on to.