18050 IMMEDIATE HURDLE; 17613 IMMEDIATE SUPPORT
WORLD MARKETS
US indices gained
0.2%-0.6% hit new intraday highs and closed at records.
October’s ISM
manufacturing index fell to 60.8 from September’s 61.1, the expected figure
being 60.3.
US 10-year treasury yield
rose 2 bps to 1.568%. Dollar index eased 0.3% to 93.877. Spot gold was up 0.6%
at $1,793.48 per ounce.
Brent crude advanced 99
cents, or 1.2%, to $84.71 per barrel while WTI settled 48 cents, or 0.6%,
higher at $84.05 per barrel.
European markets climbed
0.7%-1.4%.
AT HOME
Benchmark indices soared
a percent and half, snapping 3-day losing streak. Sensex settled at 60138, up
831 points while Nifty added 258 points to finish at 17929. Nifty mid-cap and
small-cap indices rose 1.8% and 0.9% respectively. All the BSE sectoral indices ended higher,
with Realty and Telecom indices leading the tally, up 3.7% and 3.5%
respectively.
FIIs net sold stocks and
stock futures worth Rs 202 cr and 503 cr respectively but net bought index
futures worth Rs 58 cr. DIIs were net buyers to the tune of Rs 116 cr.
Rupee appreciated 1 paise
to end at 74.8650/$.
OUTLOOK
Today morning, Hang Seng
and Shanghai are up 1.8% and 0.3% respectively while Nikkei is down 0.3%. SGX
Nifty is suggesting a flattish start for our market.
In yesterday's report we
had said that 17613 the low made on Friday was the immediate support while
20-DMA, placed around 18025, was the immediate hurdle.
Nifty surged to touch a
high of 17954 before closing at 17930.
20-DMA, placed around
18050, continues to immediate hurdle to eye, upon crossover of which, 18342,
the top made last week, would be the next upside target.
17613, the low made on Friday,
continues to be immediate support.
For Banknifty, 38426, the
low made Friday, continues to be important immediate support to eye;
40600-40800 is the immediate resistance zone.
Bharti Airtel, Sun
Pharma, Dabur will report their quarterly earnings today.
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