TRAIL STOP-LOSS TO 17200

 

TRAIL STOP-LOSS TO 17200

 

WORLD MARKETS

 

US indices fell 0.2%-1.2%, with Nasdaq leading the losses and the Dow and S & P 500 snapping a 4-day win streak

 

Data from ADP showed private payrolls expanded by 455,000 in March, roughly in line with a Dow Jones estimate of 450,000 but the lowest monthly total since August 2021.

 

US 10-year treasury yield fell nearly 5 bps to 2.352%. Dollar index fell 0.6% to 97.84. Gold rose 0.7% to $1933 per ounce.

 

Brent futures climbed 2.9% to settle at $113.35 per barrel and WTI crude rose 3.4%, or $3.58, to $107.82 per barrel as U.S. crude stockpiles fell by a bigger-than-expected 3.4 million barrels last week and markets worried about possible new Western sanctions against Russia.

 

In Europe, FTSE rose 0.6% while DAX and CAC fell 1.4% and 0.7% respectively.

 

AT HOME

 

Sensex and Nifty climbed 1.3% and 1% respectively, extending the winning streak to third straight day and closing at the highest level after 10th February, 2022. Sensex settled at 58683, up 740 points while Nifty added 173 points to finish at 17498. Nifty mid-cap and small-cap indices gained 0.8% and 1% respectively. BSE Finance and Realty indices were the top gainers among the sectoral indices, rising 1.7% and 1.5% respectively while Metal index tumbled 2.9%, becoming the top loser, followed by 0.9% lower Oil & Gas index.

 

FIIs net bought stocks, index futures and stock futures worth Rs 1357 cr, 1083 cr and 1657 cr respectively. DIIs were net buyers to the tune of Rs 1216 cr.

 

Rupee appreciated 7 paise to end at 75.91/$.

 

OUTLOOK

 

Today morning, Nikkei is marginally in the green but Hang Seng and Shanghai are down 0.8% and 0.3% respectively. SGX Nifty is suggesting a marginally higher start for our market. Oil is down 3-4% on news that Biden administration is considering a plan to release 1 million barrels of oil per day from the strategic petroleum reserve for about six months.

 

In yesterday's report we had said that 17490, the tops made on 16th February, was the immediate upside level to eye, upon crossover of which, 17639, the top made on 10th February, would be the next target. We had also advised holding on to long positions with the stop-loss of 17000.

 

Nifty surged to 17522 before closing at 17498.

 

17639, the top made on 10th February, is the next upside level to eye; Immediate support on the hourly chart has moved up to 17200, with the stop-loss of which, trading longs can be held on to.

 

36827, the top made last week, is the upside level to eye for Banknifty; 35500 is the immediate support.

17639 ABOVE 17490; 17000 CONTINUES TO BE IMMEDIATE SUPPORT

 

17639 ABOVE 17490; 17000 CONTINUES TO BE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices climbed 1%-1.8%, with the Dow and S & P 500 extending the winning streak to fourth straight day after Russia promised at peace talks in Istanbul to "drastically" scale down its military operations around Kyiv and northern Ukraine.

 

February’s Job Openings and Labor Turnover Survey showed 11.3 million job openings, higher than the 11.1 million expected. House prices rose more than 19% y-o-y in January, according to S&P CoreLogic Case-Shiller Index. The conference board’s consumer confidence index came in just below expectations at 107.2.

 

US 10-year treasury yield fell 6 bps to 2.40%. Dollar index slipped 0.7% to 98.41. Gold, after falling more than a percent, rebounded to end 0.1% lower at $1919 per ounce.

 

Brent crude fell 2%, or $2.25, to $110.23 a barrel and WTI crude settled 1.6%, or $1.72, lower at $104.24 per barrel.

 

European markets surged 0.9%-3.1%

 

AT HOME

 

Benchmark indices rose six-tenth of a percent, with Nifty closing at the highest level after 15th February 2022. Sensex settled at 57943, up 350 points while Nifty added 103 points to finish at 17325. Nifty mid-cap and small-cap indices gained 0.4% and 0.3% respectively. BSE Healthcare and Basic Materials indices were the top gainers among the sectoral indices, rising 1.4% and 1.2% respectively while Energy and Oil & Gas indices were the top losers, down 0.5% and 0.3% respectively.

 

FIIs net bought stocks and index futures worth Rs 35 cr and 680 cr respectively but net sold stock futures worth Rs 1506 cr. DIIs were net buyers to the tune of Rs 1713 cr.

 

Rupee appreciated 17 paise to end at 75.99/$.

 

OUTLOOK

 

Today morning, Hang Seng and Shanghai are up 1.2% and 0.7% respectively but Nikkei is down 1%. SGX Nifty is suggesting around 150 points higher start for our market.

 

In yesterday's report we had said that 17442, the top made last week, continued to be immediate hurdle while 17000 continued to be immediate support, with the stop-loss of which, trading longs could be held on to

 

Nifty rose to close at 17325 and is set to open near 17450 today.

 

17490, the tops made on 16th February, is the immediate upside level to eye, upon crossover of which, 17639, the top made on 10th February, would be the next target; 17000 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

36827, the top made last week, is the upside level to eye for Banknifty; 35000 is the immediate support.

 

17442 IS THE IMMEDIATE HURDLE; 17000 IMMEDIATE SUPPORT

 

17442 IS THE IMMEDIATE HURDLE; 17000 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices gained 0.3%-1.3% with Nasdaq on the top.

 

US 10-year treasury yield eased around 2 bps to 2.462%. Meanwhile, 5-year and 30-year Treasury yields inverted for the first time since 2006, raising fears of a possible recession. Dollar index rose 0.3% to 99.12. Spot gold fell 1.2% to $1,933.12 per ounce.

 

Oil tumbled as new lockdowns in Shanghai prompted fears of a slowdown in demand. WTI as well as Brent plunged nearly 7% each to end the day at $106 and $112.5 per barrel respectively.

 

In Europe, FTSE fell 0.1% while DAX and CAC gained 0.8% and 0.5% respectively.

 

AT HOME

 

After trading deep in the red in morning, benchmark indices reversed in noon trade to end higher by 0.4% each, snapping a 3-day losing streak. Sensex settled at 57593, up 231 points while Nifty added 69 points to finish at 17222. Nifty mid-cap and small-cap indices however ended lower by 0.2% and 0.7% respectively. BSE Oil & Gas index and Bankex climbed 1.1% and 1% respectively, becoming top gainers among the sectoral indices while Consumer Durables index was the top loser, down 0.6%, followed by 0.5% lower Healthcare and Capital Goods indices.

 

FIIs net sold stocks and stock futures worth Rs 801 cr and 505 cr respectively but net bought index futures worth Rs 1353 cr. DIIs were net buyers to the tune of Rs 1162 cr.

 

Rupee appreciated 5 paise to end at 76.15/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.2%-0.9% and SGX Nifty is suggesting more than 100 points higher start for our market.

 

In yesterday's report we had said that 17442, the top made last week, was the immediate hurdle, while 17006 continued to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

Nifty, after touching a low of 17004, rebounded to end at 17222 and is set to open above 17300 today.

 

17442, the top made last week, continues to be immediate hurdle, upon crossover of which, 17639 and 17794, the tops made on 10th and 2nd February respectively, would be the next upside levels to eye; 17000 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

34-DMA, placed around 36200 is immediate hurdle for Banknifty; 35000 is immediate support.

17006 CONTINUES TO BE IMMEDIATE SUPPORT

 

17006 CONTINUES TO BE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow and S & P 500 gained nearly half a percent while Nasdaq fell 0.2% on Friday.

 

Pending Home Sales fell 4.1% in February, its fourth straight month of declines and below expectations of a 1% gain. The University of Michigan’s final March reading of consumer sentiment slipped to 59.4, below the 59.7 estimate and the final February reading of 62.8, while its one-year inflation expectations index was at its highest since November 1981.

 

US 10-year treasury yield jumped 11 bps to 2.48%. Dollar index was little changed at 98.81. Spot gold fell 0.1% to $1955/ounce.

 

Brent crude settled 1.4% higher at $120.65 per barrel, while WTI crude added 1.4% to end the day at $113.90.

 

In Europe, FTSE and DAX inched up 0.2% each while CAC was little changed. Germany’s Ifo Business Climate Index fell sharply in March as the war in Ukraine darkened sentiment.

 

US indices moved up for the second consecutive week with the Dow up 0.3%, the S&P 500 gained 1.8%, and the Nasdaq rallied 2%. Dollar index rose 0.6%. Gold climbed 1.9%. Brent and WTI curde soared 10.6% and 7% respectively.

 

AT HOME

 

Benchmark indices fell four tenth of a percent, extending the losing streak to third consecutive day. Sensex lost 233 points to settle at 57362 while Nifty finished at 17153, down 70 points. Nifty mid-cap and small-cap fell 0.1% and 0.5% respectively. BSE Consumer Durable Goods index tumbled 2.3%, becoming the top loser among the sectoral indices, followed by 1% lower Capital Goods index. Realty index was the top gainer, up 1.2%, followed by 0.3% higher Utilities index.

 

FIIs net sold stocks, index futures and stock futures worth Rs 1507 cr, 225 cr and 343 cr respectively. DIIs were net buyers to the tune of Rs 1373 cr.

 

Rupee appreciated 17 paise to end at 76.20/$.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are down 0.7% each while Shanghai is off 1.4%. SGX Nifty is suggesting a flattish start for our market.

 

In Friday's report we had said that 17490 continued to be next upside level to eye while 17006 continued to be immediate support, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a low of 17076, closed at 17153.

 

17442, the top made last week, is the immediate hurdle, upon crossover of which, 17639 and 17794, the tops made on 10th and 2nd February respectively, would be the next upside levels to eye; 17006, continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

17006 CONTINUES TO BE IMMEDIATE SUPPORT

 

17006 CONTINUES TO BE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices gained 1%-1.9%, recouping losses suffered in the previous session.

 

Initial jobless claims last week totaled 187,000, the lowest level since 1969 and a measure of business activity for March climbed to an eight-month high. Durable goods orders however unexpectedly fell in February as shipments slowed.

 

President Joe Biden said at a NATO summit in Brussels that the U.S. would respond if Russia used chemical weapons in Ukraine.

 

US 10-year treasury yield rose 8 bps to 2.375%. Dollar index inched up 0.2% to 98.77. Spot gold climbed 1% to $1,963.21 per ounce

 

Brent crude fell by $1.99, or 1.6% to $119.61 a barrel and WTI was down $2.10, or 1.8%, at $112.82 a barrel.

 

In Europe, FTSE inched up 0.1% while DAX and CAC fell 0.1% and 0.4% respectively. Euro zone and U.K. business growth came in stronger than expected in March, according to new PMI readings.

 

AT HOME

 

Benchmark indices ended modestly lower after a rangebound but choppy session, extending the losing streak to second consecutive day. Sensex settled at 57595, down 89 points while Nifty lost 23 points to finish at 17222. Nifty mid-cap and small-cap indices however gained 0.6% and 0.4% respectively. BSE Metal and Energy indices climbed 1.6% and 1.2% respectively, becoming top gainers among the sectoral indices while Bankex and Consumer Durables indices tumbled 1.7% and 1.6% respectively, becoming top losers.

 

FIIs net sold stocks, index futures and stock futures worth Rs 1741 cr, 859 cr and 1191 cr respectively. DIIs were net buyers to the tune of Rs 2091 cr.

 

Rupee depreciated 6 paise to end at 76.36/$.

 

OUTLOOK

 

Today morning, Nikkei and Shanghai are marginally in the green while Hang Seng is down 0.1%. SGX Nifty is suggesting around 40 points higher start for our market.

 

In yesterday's report we had said that 17006, the bottom made on Tuesday, continued to be immediate support while 17490 continues to be next upside level to eye.

 

Nifty, after touching a low of 17091 at the open, rebounded to end at 17222.

 

17490 continues to be next upside level to eye; 17006 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

35384 continues to be immediate support for Banknifty, upon breach of which, 34700 would be the next downside level to eye; 36828, the top made Wednesday, is the immediate hurdle.

 

17006 CONTINUES TO BE IMMEDIATE SUPPORT

 

17006 CONTINUES TO BE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices fell 1.2%-1.3% as oil prices continued to climb.

 

Oil prices jumped as crude oil exports from Kazakhstan’s CPC terminal on Russia’s Black Sea coast stopped fully after damage caused by a major storm and continued bad weather. Brent futures jumped 5.3% to $121.60 and WTI crude futures settled $5.66, or 5.2%, higher at $114.93 per barrel.

 

US 10-year treasury yield, after hitting a high of 2.417%, reversed to end 9 bps lower at 2.295%. Dollar index inched up 0.2% to 98.61. Spot gold rose 0.8% to $1,937.52 per ounce.

 

Main European markets fell 0.2%-1.3%. U.K. inflation came in at an annual 6.2% in February, its highest since March 1992. UK's Finance Minister Rishi Sunak announced an immediate cut to fuel taxes and a longer-term tax reduction for workers in a bid to mitigate the country’s historic hit to living standards.

 

AT HOME

 

After opening higher by around three-fourth of a percent, benchmark indices slipped more than a percent from the top to end lower by nearly half a percent. Sensex settled at 57684, down 304 points while Nifty lost 70 points to finish at 17245. Nifty mid-cap index rose 0.6% while small-cap index fell 0.2%. BSE Metal and Utilities indices climbed 1.5% and 1.4% respectively, becoming top gainers among the sectoral indices while Bankex was the top loser, down 0.8%, followed by 0.7% lower Finance and Auto indices.

 

FIIs net bought stocks worth Rs 481 cr but net sold index futures and stock futures worth Rs 1146 cr and 580 cr respectively. DIIs were net sellers to the tune of Rs 294 cr.

 

Rupee depreciated 12 paise to end at 76.30/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of 0.3%-1.1% and SGX Nifty is suggesting around 50 points lower start for our market.

 

In yesterday's report we had said that 17490 was the next upside levels to eye and had advised trailing the stop-loss in long positions to 17006.

 

Nifty, after making a top of 17442, slipped to end at 17223.

 

17006, the bottom made on Tuesday, continues to be immediate support; 17490 continues to be next upside level to eye. Meanwhile, trading longs can be held on to with the stop-loss of 17006.

 

For Banknifty, 36827, the top made yesterday, is the immediate hurdle, upon crossover of which, 34-week moving average, placed around 37100, would be the next resistance; 35384, the low made Tuesday, is the immediate support.

 

TRAIL STOP-LOSS TO 17006

 

TRAIL STOP-LOSS TO 17006

 

WORLD MARKETS

 

US indices rose 0.7%-2%, brushing off hawkish comments from Fed Chair Jerome Powell and a continued rise in bond yields.

 

US 10-year treasury yield rose 6.2 bps to 2.379%, hitting highest level since May 2019. Dollar index, after hitting a high of 98.96, eased to end little lower at 98.42. Spot gold fell 0.7% to $1,922 per ounce.

 

Brent crude declined 14 cents to $115.48 a barrel and WTI crude settled 36 cents lower at $111.76.

 

European markets added 0.5%-1.2%. ECB President Christine Lagarde said the Fed and ECB will move out of sync, as the war in Ukraine has very different impacts on their respective economies.

 

AT HOME

 

After falling nearly two third of a percent, benchmark indices saw a sharp reversal in noon to end higher by 1.2% each, marking 8th positive close in last 10 sessions. Sensex settled at 57989, up 696 points while Nifty added 198 points to finish at 17315. Nifty mid-cap and small-cap indices inched up 0.3% each. BSE Oil & Gas and IT indices climbed 1.9% each, becoming top gainers among the sectoral indices while Realty and FMCG indices were the top losers, down 1.1% and 0.7% respectively.

 

FIIs net bought stocks and index futures worth Rs 384 cr and 901 cr but net sold stock futures worth Rs 1152 cr. DIIs were net sellers to the tune of Rs 602 cr.

 

Rupee depreciated 5 paise to end at 76.17/$.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are up 2.6% and 1.3% respectively while Shanghai is flat. SGX Nifty is suggesting around 80 points higher start for our market.

 

In yesterday's report we had said that a crossover of Monday's high, 17353, was required for a fresh upmove and had advised holding on to long positions with the stop-loss of 16860.

 

Nifty, after touching a low of 17006, rebounded to end at 17315 and is set to open near 17400 today.

 

17490 and 17640, the tops made on 16th and 10th February respectively, are the next upside levels to eye; 17006, the low made yesterday, which also coincides with 200 as well as 34-DMA, is now the immediate support, with the stop-loss of which, trading longs can be held on to.

 

36700 continues to be immediate hurdle for Banknifty, upon crossover of which, 37000 would be the next target; 35384, the low made yesterday, is the immediate support.

 

STAY LONG WITH THE STOP-LOSS OF 16860

 

STAY LONG WITH THE STOP-LOSS OF 16860

 

WORLD MARKETS

 

S & P 500 was little changed while Dow and Nasdaq fell 0.6% and 0.4% respectively as Federal Reserve Chair Jerome Powell said the central bank is open to higher rate hikes to combat rising inflation. Resurgence in oil and persisting tension between Ukraine and Russia also weighed on the sentiment.

 

Ongoing peace talks between Russia and Ukraine failed to make progress and Ukraine refused to surrender the port city of Mariupol to Russian forces.

 

US 10-year treasury yield jumped 15 bps to 2.302%. Dollar index rose quarter of a percent to 98.47. Spot gold rose 0.5% to $1,931.16 per ounce.

 

Oil surged as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities.  Brent rose 7.1% to $115.62, while WTI crude futures settled 7.1%, or $7.42, higher at $112.12.

 

In Europe, FTSE rose half a percent but DAX and CAC fell 0.6% each.

 

AT HOME

 

Benchmark indices tumbled a percent, snapping a 2-day win streak and falling for the second day in last 9 sessions. Sensex settled at 57292, down 571 points while Nifty lost 169 points to finish at 17117. Nifty mid-cap index fell 0.3% while small-cap index inched up 0.2%. BSE Utilities and Power indices slipped 1.9% and 1.8% respectively, becoming top losers among the sectoral indices while Metal index climbed 1.7%, becoming top gainer, followed by 0.2% higher Basic Materials index.

 

FIIs net sold stocks, index futures and stock futures worth Rs 2962 cr, 551 cr and 1234 cr respectively. DIIs were net buyers to the tune of Rs 253 cr.

 

Rupee depreciated 32 paise to end at 76.12/$.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are up 1.7% and 0.4% respectively while Shanghai is off 0.2%. SGX Nifty is suggesting a marginally higher start for our market.

 

In yesterday's report we had said that upon crossover of last week's high of 17344, next upside levels to eye would be 17490, 17639 and 17794, which are the tops made on 16, 10 and 2 February respectively; We had also said that Immediate support on the hourly chart had moved up to 16860, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a high of 17353 at the open, slipped to end at 17117.

 

A crossover of yesterday's high, 17353, which roughly coincided with last week's high, is required for a fresh upmove. If that happens, 17490 would be the next upside level to eye; Meanwhile, trading longs can be held on to with the stop-loss of 16860, which continues to be immediate support on the hourly chart.

 

36700 continues to be immediate hurdle for Banknifty; 35400 continues to be immediate support.

 

TRAIL STOP-LOSS TO 16860

 

TRAIL STOP-LOSS TO 16860

 

WORLD MARKETS

 

US indices gained 0.8%-2% on Friday, with the Dow rising for the fifth day in a row while S & P 500 and Nasdaq had their fourth consecutive positive day.

 

Stocks extended their gains following the report that Russia on Thursday reportedly made a $117 million bond payment in dollars, thereby avoiding what would be a historic foreign currency debt default. Meanwhile, Russian forces have continued to bombard Ukrainian cities, with several missiles hitting an aircraft repair center on the outskirts of Lviv on Friday.

 

US 10-year treasury yield fell 5 bps to 2.14%. Dollar index inched up 0.2% to 98.23, snapping a 4-day losing streak. Spot gold fell 1.14% to $1,920.56 per ounce,

 

Brent crude futures advanced 1.21%, or $1.29, to $107.93 per barrel, after surging nearly 9% on Thursday in the largest percentage gain since mid-2020. WTI crude futures settled 1.67%, or $1.72, higher at $104.70 per barrel, adding to an 8% jump on Thursday.

 

European markets rose0.1%-0.4%.

 

The Bank of England announced on Thursday that it would be raising rates for a third consecutive meeting. Meanwhile, the Bank of Japan on Friday decided to hold its monetary policy steady.

 

For the week, US indices climbed 5.5%-8.1%, posting their best week since November 2020. European markets rose 3.5%-5.8%. In Asia, except 1.8% lower Shanghai, other markets gained 4%-6.6%. Brent and WTI crude fell 4.8% and 3.5% respectively. Gold plunged 3.4%.

 

AT HOME

 

It was a spectacular end to the roaring week as benchmark indices soared 1.8% each, rising for the seventh day in past eight sessions and closing at one-month high. Sensex settled at 57863, up 1047 points while Nifty added 311 points to finish at 17287. Nifty mid-cap and small-cap indices rose 1.4% and 1.2% respectively. Except 0.4% and 0.3% lower IT and Teck indices respectively, all the BSE sectoral indices ended higher, with Realty index leading the tally, up 3.1%, followed by 2.7% higher Consumer Durables and Energy indices.

 

FIIs net bought stocks, index futures and stock futures worth Rs 2800 cr, 4304 cr and 823 cr respectively. DIIs were net sellers to the tune of Rs 678 cr.

 

Rupee appreciated 47 paise to end at 75.80/$.

 

For the week, Sensex and Nifty soared 4.2% and 4% respectively, registering biggest weekly gain in 13-months.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.1%-0.6% and SGX Nifty is trading around 17380, suggesting around 50 points higher start when compared to Thursday's close of Nifty futures.

 

In Thursday's report we had mentioned that 17300, around which 34-week moving average was placed, was the next upside level to eye and that immediate support on the hourly chart had moved up to 16750, with the stop-loss of which, trading longs could be held on to.

 

Nifty soared to touch a high of 17344 before closing at 17287.

 

Upon crossover of last week's high of 17344, next upside levels to eye would be 17490, 17639 and 17794, which are the tops made on 16, 10 and 2 February respectively; Immediate support on the hourly chart has moved up to 16860, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 36700, around which, 34-DMA as well as 200-DMA are placed, is the immediate hurdle to eye, above which, 37000, around which 20 week as well as 34-week moving averages are placed, would be the next upside level to eye; Meanwhile, trading longs can be held on to with the stop-loss of 35400, which is the immediate support on the hourly chart.