17440 ABOVE 17323; 16950 IS IMMEDIATE SUPPORT

 

17440 ABOVE 17323; 16950 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices climbed 1.8%-3.1% with Nasdaq on the top, as a slew of corporate earnings reports drove market sentiment.

 

Shares of Meta surged 17.5% following a beat on earnings. Qualcomm gained 9.7% on the back of strong earnings and PayPal surged 11.5% despite issuing weak guidance for the second quarter. Merck shares rose 4.9% and led gainers on the Dow after an earnings beat. McDonald’s, Eli Lilly and Southwest all closed higher after their quarterly reports. Apple and Amazon both rose more than 4% ahead of reporting earnings after the bell.

 

U.S. GDP unexpectedly declined in the first quarter by 1.4% from the previous year, compared to the 1% growth expected.

 

US 10-year treasury yield eased 1 bps to 2.826%. Dollar index rose two-third of a percent to 103.67, hitting its highest level since 2002. Gold rose half a percent to $1894 per ounce. Yen tumbled 2.2% to 131.2 a dollar after the Bank of Japan (BOJ) doubled-down on its super-low yield policy by offering to buy endless amounts of bonds every session as needed.

 

Oil prices rallied on reports that Germany is no longer opposed to an embargo on Russian oil. Brent crude futures rose 2.2% to $107.59 and WTI crude settled 3.3% higher at $105.36 per barrel.

 

European markets gained 1%-1.4%

 

Meanwhile, Russia’s President Putin warned the West of a “lightning fast” response to any country intervening in the Ukraine war.

 

Back in the US, Amazon shares tumbles by about 10% in extended trading after reporting a surprise loss thanks to its investment in Rivian and issued weak revenue guidance for the second quarter. Apple shares were down more than 3% after hours after CFO said supply chain constraints could hinder fiscal third-quarter revenue. Intel fell more than 3% in extended trading after the company issued weak guidance for its fiscal second quarter.

 

AT HOME

 

Benchmark indices climbed 1.2% each on the last day of the April derivative series. Sensex settled at 57521, up 701 points while Nifty added 206 points to finish at 17245. Nifty mid-cap and small-cap indices rose 0.6% and 0.4% respectively. Except 0.8% lower Telecom index, all the BSE sectoral indices ended in green, with FMCG and Power indices on the top, up 2.1% and 1.9% respectively.

 

 

FIIs net bought stocks, index futures and stock futures worth Rs 743 cr, 704 cr and 2183 cr respectively. DIIs were net buyers to the tune of Rs 781 cr.

 

Rupee appreciated 5 paise to end at 76.48/$.

 

For the April derivative series, Nifty fell 1.2%, consolidating hefty, 7.5%, gains garnered in March series.

 

Axis reported mixed set of earnings with NII missing estimates. Ambuja Cement and Vendanta beat estimates on revenue, operating profit and margin front.

 

OUTLOOK

 

Today morning, Nikkei is up 1.8% while Hang Seng and Shanghai are down 0.6% and 0.1% respectively. SGX Nifty is suggesting around 50 points higher start for our market.

 

In yesterday's report we had reiterated the view that 16824, the low made last week, continued to be immediate support while 20-DMA, placed around 17450 continued to be immediate hurdle.

 

Nifty soared to touch a high of 17323 before closing at 17245 and is set to open near 17300 today.

 

A crossover of yesterday's high, 17323, would confirm a "Buy" on the hourly chart and would pave the way for further upside till 20-DMA placed around 17440; 16950, around which a trendline adjoining recent bottoms on the hourly chart is place, is the immediate support, upon breach of which, 16824, the low made last week, would be the next downside level to eye.

 

36900 is the immediate hurdle for Banknifty; 35760, 35511 are supports.

 

Maruti Suzui, Ultratech Cement, Wipro and Indusind Bank will report their quarterly earnings today.

 

16824 CONTINUES TO BE IMMEDIATE SUPPORT; 17450 IMMEDIATE HURDLE

 

16824 CONTINUES TO BE IMMEDIATE SUPPORT; 17450 IMMEDIATE HURDLE

 

WORLD MARKETS

 

After rising nearly a percent and half in the first half, US indices gave away most of the gains in second half to end flat to marginally higher.

 

US 10-year treasury yield rose 11 bps to 2.834%. Dollar index jumped 0.7% to 103, hitting a 5-year high. Spot gold dropped 1.1% to $1,884.74 per ounce.

 

Brent crude futures added 33 cents to end the day at $105.32 per barrel and WTI futures settled 0.3% higher at $102.02 per barrel.

 

European markets gained 0.3%-0.7%.

 

Meanwhile Russian state energy firm Gazprom decided to halt natural gas supplies to Poland and Bulgaria — two members of the European Union — with Moscow demanding payment in rubles.

 

AT HOME

 

Benchmark indices slipped 0.94% each, giving away nearly two third of yesterday's gains. Sensex settled at 56819, down 537 points while Nifty lost 162 points to finish at 17038. Nifty mid-cap and small-cap indices fell 0.9% and 0.6% respectively. Except a flat Metal index, all the BSE sectoral indices ended in red, with Power and Utilities indices leading the losses, down 1.9% and 1.8% respectively.

 

FIIs net sold stocks, index futures and stock futures worth Rs 4065 cr, 3387 cr and 971 cr respectively. DIIs were net buyers to the tune of Rs 1918 cr.

 

Rupee appreciated 5 paise to end at 76.53/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.3%-0.8% and SGX Nifty is suggesting a flattish start for our market.

 

In yesterday's report we had said that 16824, the low made last week, continued to be immediate support while 20-DMA, placed around 17450 continued to be immediate hurdle.

 

Nifty, after touching a low of 16958, closed at 17038.

 

16824, the low made last week, continues to be immediate support; 20-DMA, placed around 17450 continues to be immediate hurdle.

 

For Banknifty, 35511, the low made Monday, which roughly coincided with the 50% retracement level of the 32155-38765 upmove, is the immediate support, below which, 35016, the low made on28th March, would be next downside level to eye; 36900-37000 is the resistance zone.

 

Axis Bank and Ambuja Cement will report their quarterly earnings today.

 

16824 CONTINUES TO BE IMMEDIATE SUPPORT; 17450 IMMEDIATE HURDLE

 

16824 CONTINUES TO BE IMMEDIATE SUPPORT; 17450 IMMEDIATE HURDLE

 

WORLD MARKETS

 

US indices nosedived 2.4%-4%, extending their April sell-off, as market sentiment continues to be rattled by interest rates, inflation, slowing growth and the war in Ukraine.

 

US 10-year treasury yield fell 10 bps to 2.726%. Dollar index jumped 0.6% to 102.30,  Spot gold rose 0.4% to $1,904.36 per ounce.

 

Brent crude futures settled 2.6% higher at $105 per barrel and WTI settled the day 3.2%, or $3.16, higher at $101.70 per barrel.

 

In Europe, FTSE inched up 0.1% while DAX and CAC fell 1.2% and 0.5% respectively.

 

AT HOME

 

Sensex and Nifty climbed 1.4% and 1.5% respectively, snapping a 2-day losing streak. Sensex settled at 57356, up 776 points while Nifty finished at 17200, up 246 points. Nifty mid-cap and small-cap indices rose 1.6% and 1.2% respectively. All the BSE sectoral indices ended higher, with Power and Realty indices on the top, up 3.6% and 3.5% respectively.

 

FIIs net sold stocks worth Rs 1174 cr but net bought index futures and stock futures worth Rs 232 cr and 1400 cr respectively. DIIs were net buyers to the tune of Rs 1644 cr.

 

Rupee appreciated 11 paise to end at 76.58/$.

 

OUTLOOK

 

Today morning, Nikkei is down 1.7% while Hang Seng and Shanghai are off 0.3% and 0.1% respectively. SGX Nifty is suggesting around 200 points lower start for our market.

 

In yesterday's report we had said that 16824, the low made last week, continued to be immediate support while 20-DMA, placed around 17450 continued to be immediate hurdle.

 

Nifty rose to touch a high of 17223 before closing at 17200. The benchmark is set to open near 17000 today.

 

16824, the low made last week, continues to be immediate support; 20-DMA, placed around 17450 continues to be immediate hurdle.

 

For Banknifty, 35511, the low made Monday, which roughly coincided with the 50% retracement level of the 32155-38765 upmove, is the immediate support, below which, 35016, the low made on28th March, would be next downside level to eye; 36900-37000 is the resistance zone.

 

Bajaj Auto and HUL will report their quarterly earnings today.

 

16824 CONTINUES TO BE IMMEDIATE SUPPORT; 17450 IMMEDIATE HURDLE

 

16824 CONTINUES TO BE IMMEDIATE SUPPORT; 17450 IMMEDIATE HURDLE

 

WORLD MARKETS

 

After plunging nearly a percent and half in the initial trade on worries over Covid spread in China, US indices reversed to end rose 0.6%-1.3% as tech shares rallied in the afternoon tracking fall in treasury yield.

 

Mainland and Hong Kong stocks plunged on reports that COVID is spreading more rapidly in China, prompting fears of additional lockdowns and reduced output.

 

US 10-year treasury yield fell 8 bps to 2.82%. Dollar index jumped 0.6% to 101.74Spot gold fell 1.66% to 1,898 per ounce.

 

Brent futures fell $4.33, or 4.1%, to settle at $102.32 a barrel, while WTI crude fell $3.53, or 3.5%, to settle at $98.54.

 

European markets fell 1.5%-2%

 

AT HOME

 

Sensex and Nifty tumbled 1.1% and 1.3% respectively, extending the losing streak to second straight day and Nifty closing at the lowest level after 15th March, 2022. Sensex settled at 56579, down 617 points while Nifty lost 218 points to finish at 16953. Nifty mid-cap and small-cap indices nosedived 1.9% and 2.4% respectively.   All the BSE sectoral indices ended in red, with Realty and Metal indices leading the losses, down 3.7% each.

 

FIIs net sold stocks and index futures worth Rs 3303 cr and 1258 cr respectively but net bought stock futures worth Rs 681 cr. DIIs were net buyers to the tune of Rs 1870 cr.

 

Rupee depreciated 21 paise to end at 76.69/$.

 

OUTLOOK

 

Today morning Nikkei and Hang Seng are up a third of a percent each while Shanghai is down 1%. SGX Nifty is suggesting around 120 points higher start for our market.

 

In yesterday's report we had said that 16824, the low made last week, was the next downside level to eye while 20-DMA, placed around 17465 was the immediate hurdle.

 

Nifty plunged to 16888 before closing at 16953. The benchmark is set to open near 17050 today.

 

16824, the low made last week, continues to be immediate support to eye; 20-DMA, placed around 17450 continues to be immediate hurdle.

 

35511, the low made yesterday, which roughly coincided with the 50% retracement level of the 32155-38765 upmove, is the immediate support to eye; 36900-37000 is the resistance zone.

16824 IS THE NEXT SUPPORT; 17465 IMMEDIATE HURDLE

 

16824 IS THE NEXT SUPPORT; 17465 IMMEDIATE HURDLE

 

WORLD MARKETS

 

US indices tumbled 2.6%-2.8%, with the Dow having its worst day since October 2020, as the latest raft of corporate earnings and the prospect of rising rates spurred a wave of selling.

 

US 10-year treasury yield eased 1 bps to 2.903%. Dollar index rose half a percent to 101.12. Gold slipped 1.1%.

 

Brent crude settled down $1.68, or 1.6%, at $106.65 a barrel while WTI crude declined $1.72, or 1.7%, to $102.07 per barrel.

 

European markets fell 1.4%-2.5%. Data out in the UK showed retail sales volumes dropping more than expected in the month of March.

 

For the week, Dow fell 1.9% for its fourth straight weekly decline while S & P 500 and Nasdaq tumbled 2.8% and 3.8% respectively, extending the losing streak to third straight week. WTI and Brent crude fell 2% and 4.5% respectively. Gold fell 2.3%.

 

AT HOME

 

Benchmark indices slipped a percent and quarter, snapping a 2-day winning streak. Sensex settled at 57197, down 714 points while Nifty lost 220 points to finish at 17172. Nifty mid-cap and small-cap indices fell 1% and 0.9% respectively. All the BSE sectoral indices ended in red, with Bankex and Metal indices leading the losses, down 2.2% each.

 

FIIs net sold stocks, index futures and stock futures worth Rs 2462 cr, 941 cr and 1186 cr respectively. DIIs were net buyers to the tune of Rs 1602 cr.

 

Rupee depreciated 34 paise to end at 76.48/$.

 

For the week, Sensex and Nifty fell 1.7% and 2% respectively, extending the losing streak to second straight week.

ICICI Bank had strong quarter with superior performance across many parameters. Net Interest Margin hit all time high, Return on Assets crossed 2% marks after 7-8 years, Groos and Net NPAs ratios were best in 29 quarters and CASA was ratio was best in 12 quarters.

 

OUTLOOK

 

Today morning, Nikkei, Hang Seng and Shanghai, all are trading with cuts in excess of 2% and SGX Nifty is suggesting nearly 200 points lower start for our market.

 

In Friday's report we had said that Nifty was yet to confirm a "Buy" on the hourly chart and a decisive and sustained crossover of 17400-17450 resistance zone was required for that; We had also said that 17060 was the immediate support, below which, 16824, the low made Tuesday, would be the next downside level to eye.

 

Nifty touched a low of 17149 before closing at 17171 and is set to open below 17000 today.

 

16824, the low made last week, is the next downside level to eye; 20-DMA, placed around 17465 is the immediate hurdle.

 

35016, the bottom made on 28th March, is the next downside level to eye for Banknifty; 37123, the top made last week, is the immediate hurdle, with the stop-loss of which, trading shorts can be held on to.

 

17060, 16824 ARE THE SUPPORTS 17400-17450 RESISTANCE ZONE

 

17060, 16824 ARE THE SUPPORTS 17400-17450 RESISTANCE ZONE

 

WORLD MARKETS

 

US indices, after a positive start, saw a sustained downward move through the session to end with cuts of 1%-2.1% as Fed Chair Powell Powell hinted at more aggressive rate hikes ahead in order to bring down inflation.

 

Weekly jobless claims came in slightly higher than expected at 184,000.

 

US 10-year treasury yield jumped 9 bps to 2.94%. Dollar index rose 0.3% to 100.62. Gold fell 0.3% to $1951 per ounce.

 

WTI crude futures gained 1.6% to settle at $103.79 a barrel and Brent crude rose 1.3% to $108.70.

 

In Europe, FTSE was flat while DAX and CAC gained 1% and 1.4% respectively.

 

AT HOME

 

Benchmark indices soared a percent and half, registering best day since 4^th April and extending the winning streak to second straight day. Sensex settled at 57911, up 874 points while Nifty added 256 points to finish at 17392. Nifty mid-cap and small-cap indices rose 1.1% and 1.6% respectively. Except a 0.1% lower Metal index, all the BSE sectoral indices ended higher, with Auto and Consumer Discretionary Goods & Services indices on the top, up 2.1% and 1.6% respectively.

 

FIIs net sold stocks worth Rs 714 cr but net bought index futures and stock futures worth Rs 60 cr and 1385 cr respectively. DIIs were net buyers to the tune of Rs 2823 cr.

 

Rupee appreciated 6 paise to end at 76.15/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of 0.6%-2% and SGX Nifty is suggesting more than 200 points lower start for our market.

 

In yesterday's report we had said that 17400 continued to be immediate hurdle while 16824, the low made Tuesday, continued to be immediate support.

 

Nifty surged to touch a high of 17414 before closing at 17392 and is set to open near 17200 today.

 

The benchmark is yet to confirm a "Buy" on the hourly chart and a decisive and sustained crossover of 17400-17450 resistance zone is required for that; 17060 is the immediate support, below which, 16824, the low made Tuesday, would be the next downside level to eye.

 

37260 continues to be immediate hurdle for Banknifty; 35926, the low made Tuesday, continues to be immediate support, below which, 35460, the 50% retracement level of the 32155-38765 upmove, would be the next downside level to eye.

 

 

17400 CONTINUES TO BE IMMEDIATE SUPPORT; 16824 IMMEDIATE SUPPORT

 

17400 CONTINUES TO BE IMMEDIATE SUPPORT; 16824 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow, boosted by strong earnings from Procter & Gamble, rose 0.7% while S & P 500 and Nasdaq fell 0.1% and 1.2% respectively, dragged down by Netflix’s post-report plunge.

 

US 10-year treasury yield dipped 10 bps to 2.84%. Dollar index dipped 0.6% to 100.32. Gold inched up 0.4% to $1957 per ounce.

 

Brent as well as WTI crude futures rose 0.2% each to $107.27 and $102.40 per barrel respectively.

 

European markets gained 0.4%-1.4%.

 

AT HOME

 

Benchmark indices climbed a percent each, snapping a 5-day losing streak. Sensex settled at 57037, up 574 points while Nifty added 178 points to finish at 17136. Nifty mid-cap index rose 0.8% while small-cap index inched lower by 0.2%. BSE Auto and Energy indices were the top gainers among the sectoral indices, rising 2.2% each whereas Metal index was the top loser, down 0.4%, followed by 0.2% lower Utilities, Bankex and Capital Goods indices.

 

FIIs net sold stocks worth Rs 3009 cr but net bought index futures and stock futures worth Rs 122 cr and 1666 cr respectively. DIIs were net buyers to the tune of Rs 2646 cr.

 

Rupee appreciated 30 paise to end at 76.51/$.

 

OUTLOOK

Today morning, Nikkei is up more than a percent while Hang Seng and Shanghai are off 0.4% and 0.1% respectively. SGX Nifty is suggesting nearly 100 points higher strat for our market.

 

In yesterday's report we had said that 16824, the low made Tuesday, was the immediate support while immediate hurdle on the hourly chart had moved lower to 17400.

 

Nifty touched a high of 17187 before closing at 17136 and is set to open above 17200 today.

 

17400 continues to be immediate hurdle while 16824, the low made Tuesday, continues to be immediate support.

 

35926, the low made Tuesday, which roughly coincided with 34-DMA, continues to be immediate support for Banknifty; 37260 continues to be immediate hurdle.

 

HCL Tech will report its quarterly earnings today.

 

16600 BELOW 16824; TRAIL STOP-LOSS TO 17400

 

16600 BELOW 16824; TRAIL STOP-LOSS TO 17400

 

WORLD MARKETS

 

US indices, after a fattish start, saw a sustained upward movement through the session to end higher by 1.4%-2.2%, posting their best day since March 16.

 

US housing starts and building permits in March came in above expectations.

 

US 10-year Treasury yield rose 8 bps to 2.942%, its highest level since December 2018. Dollar index inched up 0.2% to 101. Spot gold fell 1.5% to $1,948 per ounce.

 

Brent as well as WTI crude declined 5.2% each to $107.25 and $102.6 per barrel respectively after the International Monetary Fund (IMF) reduced its global growth forecast for 2022 from 4.1% to 3.2%.

 

European markets fell 0.1%-1%.

 

AT HOME

 

After trading in a narrow range for better part of the day, benchmark indices nosedived in last half an hour to end lower by 1.25% each, extending the losing streak to fifth consecutive day and closing at the lowest level since 15th March. Sensex lost 703 points to settle at 56463 while Nifty finished at 16958, down 215 points. Nifty mid-cap and small-cap indices slipped 1.4% and 1.7% respectively. Except 1.2% higher Energy index, all the BSE sectoral indices ended in red with IT and FMCG indices leading the losses, down 2.6% each.

 

FIIs net sold stocks worth Rs 5872 cr but net bought index futures and stock futures worth Rs 1387 cr and 122 cr respectively. DIIs were net buyers to the tune of Rs 3981 cr.

 

Rupee depreciated 25 paise to end at 76.51/$.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are up 0.6% and 0.2% respectively while Shanghai is down half a percent. SGX Nifty is suggesting a modestly higher start for our market.

 

In yesterday's report we had said that 17068, the low made Monday, was the immediate support to eye and had advised holding on to short positions with the stop-loss of 17565.

 

Nifty broke 17068 and plunged all the way to 16825 before closing at 16958.

 

16824, the low made yesterday, is the immediate support, upon breach of which, 16600, the 61.8% retracement level of the entire 15671-18115 upmove, would be the next downside level to eye; immediate hurdle on the hourly chart has moved lower to 17400, with the stop-loss of which, trading shorts can be held on to.

 

35926, the low made yesterday, which roughly coincided with 34-DMA, is the immediate support for Banknifty, upon breach of which, 35016, the low made on 28th March, would be the next downside level to eye; 37260 is the immediate hurdle.