22000 NEXT; TRAIL STOP-LOSS TO 21475

 

22000 NEXT; TRAIL STOP-LOSS TO 21475

 

WORLD MARKETS

 

Dow and S & P 500 ended marginally in the green while Nasdaq finished marginally in the red.

 

Initial filings for unemployment last week move higher, rising 12,000 from the previous period.

 

U.S. 10-year treasury yield rose 5 bps to 3.844%. Dollar index rose 0.3% to 101.21. Gold fell 0.6% to $2065 per ounce.

 

Oil prices fell 3% as more shipping companies said they were ready to transit the Red Sea route, easing concerns about supply disruptions. Brent crude futures for March slipped 2.8% to $77.30 while WTI crude futures fell 3.2% to settle at $71.77 a barrel.

 

European markets saw cuts of upto half a percent.

 

AT HOME

 

Sensex and Nifty gained 0.5% and 0.6% respectively, extending the winning streak to fifth consecutive day and hitting fresh record highs. Sensex settled at 72410, up 372 points while Nifty added 124 points to finish at 21778. Nifty mid-cap and small-cap indices gained 0.6% and 0.8% respectively. Except 0.1% and 0.03% lower IT and Consumer Durables indices, all the NSE sectoral indices ended higher, with Oil & Gas and FMCG indices being the top gainers, up 2% and 1.4% respectively.

 

FIIs net bought stocks and stock futures worth Rs 4359 cr and 7106 cr respectively but net sold index futures worth Rs 903 cr. DIIs were net buyers to the tune of Rs 137 cr.

 

Rupee appreciated 18 paise to end at 83.16/$.

 

For the December derivative series, Nifty surged 8.2%.

 

OUTLOOK

 

Today morning, Shanghai and Hang Seng are up 0.5% and 0.1% respectively while Nikkei is off 0.2%. GIFT Nifty is suggesting a flattish start for our market.

 

In yesterday's report we had said that 21800, followed by 22000, were the next upside levels to eye while 21400 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty surged to touch a high of 21801 before closing at 21778.

 

22000 is the next upside level to eye; Immediate support on the hourly chart has moved up to 21475, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 49000, followed by 49350, are the next upside levels to eye; 47800 is the immediate support.

21800, 22000 ARE THE UPSIDE LEVELS TO EYE; 21400 IS IMMEDIATE SUPPORT

21800, 22000 ARE THE UPSIDE LEVELS TO EYE; 21400 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

U.S. indices gained 0.2%-0.3%.

 

U.S. 10-year treasury yield dipped 10 bps to 3.798%. Dollar index tumbled half a percent to 100.95, its lowest level since July 27. Gold rose half a percent to $2077 per ounce.

 

WTI crude fell 1.9% to settle at $74.11 a barrel while Brent declined 1.8% to settle at $79.65.

 

European markets gained upto 0.4%

 

AT HOME

 

Benchmark indices surged 1% each, extending the winning streak to fourth straight session and hitting fresh record highs. Sensex settled at 72038, up 701 points while Nifty added 213 points to finish at 21654. Nifty mid-cap and small-cap indices gained 0.4% each. Except 0.3% lower Oil & Gas index, all the NSE sectoral indices ended higher, with PSU Bank and Auto indices being the top gainers, up 2.1% and 1.5% respectively.

 

FIIs net bought stocks and stock futures worth Rs 2926 cr and 2903 cr respectively but net sold index futures worth Rs 488 cr. DIIs were net sellers to the tune of Rs 192 cr.

 

Rupee depreciated 15 paise to end at 83.34/$.

 

OUTLOOK

 

Today morning, Hang Seng and Shanghai are up 1% and 0.4% respectively while Nikkei is off half a percent. GIFT Nifty is suggesting around 75 points higher start for our market.

 

In yesterday's report we had said that 21593, the top made last week, was the next upside target/resistance to eye while 21232, the low made on Friday, was the immediate support.

 

Nifty surged to touch a high of 21675 before closing at 21654.

 

21800, followed by 22000 are the next upside levels to eye; 21400 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 49000, followed by 49350, are the next upside levels to eye; 47800 is the immediate support.

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.

 

21593 IS THE UPSIDE LEVEL TO EYE; 21232 IS IMMEDIATE SUPPORT

 

21593 IS THE UPSIDE LEVEL TO EYE; 21232 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow and S & P 500 rose 0.4% each while Nasdaq gained half a percent.

 

Annual home prices in October rose again, pointing toward continued recovery of the housing market.

 

U.S. 10-year treasury yield was little changed at 3.899%. Dollar index fell 0.3% to 101.44. Gold rose 0.7% to $2068 per ounce.

 

Oil climbed more than 2% to its highest level this month, as further attacks on ships in the Red Sea prompted fears of shipping disruptions and on hopes of interest rate cuts that could boost economic growth and fuel demand. Brent crude futures settled 2.5% higher at $81.07 a barrel, WTI crude rose by 2.7%, to $75.57.

 

European markets were shut for Boxing Day holiday.

 

AT HOME

 

Sensex and Nifty gained 0.3% and 0.4% respectively, extending the winning streak to third straight day. Sensex settled at 71336, up 230 points while Nifty added 92 points to finish at 21441. Nifty mid-cap and small-cap indices gained 0.6% and 0.1% respectively, also rising for the third straight session. Nifty Oil & Gas and Healthcare indices gained 1.5% and 1.25% respectively, becoming top gainers among the sectoral indices while Media and IT indices were the top losers, down 0.6% and 0.4% respectively.

 

FIIs net sold stocks and index futures worth Rs 95 cr and 777 cr respectively but net bought stock futures worth Rs 1008 cr. DIIs were net buyers to the tune of Rs 167 cr.

 

Rupee depreciated 5 paise to end at 83.19/$.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are up 1.2% and 0.8% respectively while Shanghai is off 0.2%. GIFT Nifty is suggesting around 75 points higher start for our market.

 

In yesterday's report we had said that 21460, the 78.6% retracement level of the recent 21593-20976 fall, was the immediate hurdle, upon crossover of which, 21593, the top made last week, would be the next upside target/resistance to eye.

 

Nifty rose to touch a high of 21477 before closing at 21441.

 

21593, the top made last week, is the next upside target/resistance to eye; 21232, the low made on Friday, is the immediate support.

 

For Banknifty, 48100-48200 is the immediate resistance zone, a crossover of which is required for a fresh upmove. If that happens, 49300-49400 would be the next target area. 46920, the low made last week, is immediate support.

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.

21460, 21593 ARE UPSIDE LEVELS TO EYE; 20976 IS IMMEDIATE SUPPORT

 

21460, 21593 ARE UPSIDE LEVELS TO EYE; 20976 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

U.S. and European markets were closed yesterday for Christmas.

 

On Friday, Dow fell marginally while S & P 500 and Nasdaq rose 0.2% each.

 

The November core personal consumption expenditures price index rose just 0.1% last month, and gained 3.2% y-o-y, about in line with expectations. Expected figures were 0.1% and 3.3% respectively.

 

U.S. 10-year treasury yield rose 1 bps to 3.901%. Dollar index fell 0.1% to 101.71. Gold rose a third of a percent to $2053 per ounce.

 

Brent futures fell 0.4% to settle at $79.07 a barrel, while WTI crude fell 0.5% to $73.56.

 

In Europe, FTSE and DAX ended marginally higher while CAC was marginally in the red.

 

For the week, U.S. indices gained 0.2%-1.2%, extending the winning streak to eight straight week. This was the longest winning streak since 2017 for the S&P 500 and since 2019 for the Dow.

 

AT HOME

 

Sensex and Nifty gained 0.3% and 0.4% respectively, extending yesterday's rebound. Sensex settled at 71106, up 241 points while Nifty added 94 points to finish at 21349. Nifty mid-cap and small-cap indices gained 0.7% and 1.1% respectively. Nifty Realty and IT indices climbed 2.6% and 2.3% respectively, becoming top gainers among the sectoral indices while Bank and Financial Services indices were the top losers, down 0.7% and 0.6% respectively.

 

FIIs net sold stocks and index futures worth Rs 2829 cr and 225 cr respectively but net bought stock futures worth Rs 6232 cr. DIIs were net buyers to the tune of Rs 2167 cr.

 

Rupee appreciated 14 paise to end at 83.14/$.

 

For the week, Sensex and Nifty fell half a percent each, snapping a 7-week winning streak.

 

OUTLOOK

 

Today morning, Hang Seng is shut while Nikkei is flat and Shanghai is off 0.4%. GIFT Nifty is suggesting a modestly higher start for our market.

 

In Friday's report we had said that 21350 was the immediate hurdle on the hourly chart, upon crossover of which, 21593, the top made on Wednesday, would be the bigger resistance to eye while 20976, the low made Thursday, was the immediate support.

 

Nifty rose to touch a high of 21390 before closing at 21349.

 

21460, the 78.6% retracement level of the recent 21593-20976 fall, is the immediate hurdle, upon crossover of which, 21593, the top made last week, would be the next upside target/resistance to eye; 20976, the low made last week, is the immediate support.

 

For Banknifty, 48100-48200 is the immediate resistance zone, a crossover of which is required for a fresh upmove. If that happens, 49300-49400 would be the next target area. 46920, the low made last week, is immediate support, upon breach of which, 46500 would be the next downside level to eye.

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.

21350 IS IMMEDIATE HURDLE; 20976 IMMEDIATE SUPPORT

 

21350 IS IMMEDIATE HURDLE; 20976 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

U.S. indices rose 0.9%-1.3%, recovering from previous day's steep sell-off.

 

Number of Americans filing new claims for unemployment benefits rose just marginally last week. U.S. GDP increased at a 4.9% annualized rate last quarter, revised down from the previously reported 5.2% pace.

 

U.S. 10-year treasury yield rose 4 bps to 3.892%. Dollar index fell 0.6% to 101.79. Gold rose 0.6% to $2046 per ounce.

 

Oil prices fell after Angola said it would exit the Organization of the Petroleum Exporting Countries (OPEC). Brent crude futures settled down 31 cents at $79.39 a barrel and WTI crude futures fell 33 cents to $73.89 a barrel.

 

European markets fell 0.2%-0.3%.

 

AT HOME

 

After falling about eight tenth of a percent at the open, benchmark indices reversed and surged a percent and third from the bottom to end higher by half a percent. Sensex settled at 70865, up 358 points while Nifty added 105 points to finish at 21255. Nifty mid-cap and small-cap indices surged 1.7% and 1.9% respectively. All the NSE sectoral indices ended higher, with Media and Oil & Gas indices being the top gainers, up 2.5% and 1.7% respectively.

 

FIIs net sold stocks and stock futures worth Rs 1636 cr and 2566 cr respectively but net bought index futures worth Rs 212 cr. DIIs were net buyers to the tune of Rs 1465 cr.

 

Rupee depreciated 11 paise to end at 83.28/$.

 

OUTLOOK

 

Today morning, Hang Seng and Nikkei are up 0.4% and 0.3% respectively while Shanghai is off 0.2%. GIFT Nifty is suggesting around 30 points higher start for our market.

 

In yesterday's report we had said that 20950, the lower end of the gap created by gap-up opening last Thursday, was the next downside level to eye while 21350-21450 was the immediate resistance zone, with the stop-loss of which, trading shorts could be held on to.

 

Nifty, after touching a low of 20976, rebounded to end at 21255.

 

21350 is the immediate hurdle on the hourly chart, upon crossover of which, 21593, the top made on Wednesday, would be the bigger resistance to eye; 20976, the low made yesterday, is the immediate support.

 

For Banknifty, 48200 is the immediate hurdle; 46900 is immediate support.

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.

20950 IS NEXT SUPPORT; 21350-21400 IS THE RESISTANCE ZONE

 

20950 IS NEXT SUPPORT; 21350-21400 IS THE RESISTANCE ZONE

 

WORLD MARKETS

 

Dow dipped 1.3% while S & P 500 and Nasdaq nosedived 1.5% each, with the Dow and Nasdaq snapping a 9-day winning streak and suffering worst cut since September. S & P 500 had it's worst day since September.

 

U.S. consumer confidence increased more than expected in December. November existing home sales was greater than expected.

 

U.S. 10-year treasury yield fell 8 bps to 3.851%. Dollar index inched up 0.3% to 102.40. Gold fell 0.4% to $2032 per ounce.

 

U.S. crude rose 0.4% to $74.22 a barrel, while Brent gained 0.6% to settle at $79.70 a barrel.

 

In Europe, FTSE and CAC rose 1% and 0.1% respectively while DAX was marginally in the red. British inflation fell in November to its lowest rate in over two years, prompting markets to fully price in a BoE rate cut by May 2024 and assign a nearly 50% chance of a cut by March.

 

AT HOME

 

Sensex and Nifty tumbled 1.3% and 1.4% respectively, posting worst percentage cut since 26th October and 13th March respectively. Sensex settled at 70506, down 930 points while Nifty lost 303 points to finish at 21150. Nifty mid-cap and small-cap indices nosedived 3.3% and 3.6% respectively, suffering worst cut since 23rd December 2022 and 12th September 2023 respectively. All the NSE sectoral indices ended lower, with Media and PSU Bank indices being the top losers, down 5.1% and 4% respectively.

 

FIIs net sold stocks worth Rs 1322 cr but net bought index futures and stock futures worth Rs 1639 cr and 6509 cr respectively. DIIs were net buyers to the tune of Rs 4754 cr.

 

Rupee appreciated 1 paise to end at 83.17/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of 0.4%-1.6% and GIFT Nifty is suggesting a modestly lower start for our market.

 

In yesterday's report we had said that 21600 continued to be upside level to eye for Nifty while 21250 was the immediate support, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a high of 21593, reversed and plunged all the way to 21087 before closing at 21150.

 

20950, the lower end of the gap created by gap-up opening last Thursday, is the next downside level to eye; 21400-21350 is the immediate resistance zone, with the stop-loss of which, trading shorts can be held on to.

 

For Banknifty, 46900, 46500 are next supports; 47800-47850 is the immediate resistance zone.

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.

TRAIL STOP-LOSS TO 21250

 

TRAIL STOP-LOSS TO 21250

 

WORLD MARKETS

 

U.S. indices rose 0.6%-0.7%, with the Dow and Nasdaq extending the winning streak to ninth straight session.

 

Atlanta Fed President Raphael Bostic said there is no “urgency” for rate cuts given the strength of the U.S. economy and the need to ensure inflation returns to the 2% target.

 

U.S. 10-year treasury yield was flat at 3.933%. Dollar index fell 0.4% to 102.14. Gold rose 0.6% to $2040 per ounce.

 

WTI crude futures rose 1.3% to $73.44 a barrel while Brent crude futures gained 1.6% to settle at $79.23 a barrel.

 

European markets gained upto 0.6%.

 

Bank of Japan kept its ultra-low interest rates unchanged and made no change to its dovish policy guidance.

 

AT HOME

 

After hitting fresh intraday record highs, benchmark indices closed higher by a fifth of a percent each. Sensex settled at 71437, up 122 points while Nifty added 34 points to finish at 21453. Nifty mid-cap and small-cap indices however fell 0.4% and 0.1% respectively, snapping a 4-day and 6-day winning streak respectively. Nifty FMCG index climbed 1.4%, becoming top gainer among the sectoral indices, followed by 0.8% higher Consumer Durables, Oil & Gas and PSU Bank indices. IT index was the top loser, down 1%, followed by 0.8% lower Auto index.

 

FIIs net sold stocks and stock futures worth Rs 602 cr and 788 cr respectively but net bought index futures worth Rs 1284 cr. DIIs were net buyers to the tune of Rs 294 cr.

 

Rupee depreciated 12 paise to end at 83.18/$.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are up 1.6% and 1.1% respectively while Shanghai is flat. GIFT Nifty is suggesting around 80 points higher start for our market.

 

In yesterday's report we had said that 21600 continued to be upside level to eye for Nifty while 21070 continued to be immediate support, with the stop-loss of which, trading longs could be held on to.

 

Nifty rose to touch a high of 21505 before closing at 21453.

 

21600 continues to be upside level to eye for Nifty; 21250 is the immediate support, with the stop-loss of which, trading longs could be held on to.

 

48220, the top made last week, is the immediate hurdle for Banknifty, above which, 48800 would be next upside level to eye; 47400 continues to be immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.

21600 COTNINUES TO BE NEXT TARGET; 21070 CONTINUES TO BE IMMEDIATE SUPPORT

 

21600 COTNINUES TO BE NEXT TARGET; 21070 CONTINUES TO BE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow ended absolutely flat while S & P 500 and Nasdaq rose 0.4% and 0.6% respectively.

 

U.S. 10-year treasury yield rose 2 bps to 3.935%. Dollar index eased 0.1% to 102.51. Gold inched up 0.4% to $2027 per ounce.

 

WTI crude futures gained 1.4% to trade at $72.46, while the Brent contract for February rose 1.9% to $77.97 a barrel.

 

In Europe, FTSE rose half a percent while DAX and CAC fell 0.6% and 0.4% respectively.

 

AT HOME

 

Benchmark indices eased a fifth of a percent after trading in a narrow range, snapping a 3-day winning streak. Sensex settled at 71315, down 168 points while Nifty lost 38 points to finish at 21418. Nifty mid-cap and small-cap indices however gained 0.2% and 0.6% respectively, hitting fresh record highs. Nifty Media and Pharma indices were the top gainers among the sectoral indices, up 1.2% and 0.9% respectively while Realty and Bank indices were the top losers, down 1% and 0.6% respectively.

 

FIIs net sold stocks and stock futures worth Rs 34 cr and 1865 cr respectively but net bought index futures worth Rs 16 cr. DIIs were net buyers to the tune of Rs 414 cr.

 

Rupee depreciated 6 paise to end at 83.06/$.

 

OUTLOOK

 

Today morning Nikkei and Shanghai are little changed while Hang Seng is down nearly a percent. GIFT Nifty is suggesting a flattish start for our market.

 

In yesterday's report we had said that 21600, around which upper end of a rising channel formation made by adjoining tops and bottoms since June 2022 is placed, was the next upside target to eye while 21070 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty fell to 21365 before closing at 21418.

 

21600 continues to be upside level to eye for Nifty; 21070 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

Having crossed 48000 hurdle, 50000 is the next major target for Banknifty. 47400 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.

TRAIL STOP-LOSS TO 21070

 

TRAIL STOP-LOSS TO 21070

 

WORLD MARKETS

 

Dow and Nasdaq rose 0.2% and 0.4% respectively while S & P 500 was little changed on Friday.

 

New York Fed President John Williams pushed back against the market’s rate cut expectations saying that “we aren’t really talking about rate cuts right now” at the Fed and it’s “premature” to speculate about them.

 

A New York Federal Reserve Bank manufacturing survey showed a third month of declines in new orders.

 

U.S. 10-year treasury yield fell 1 bps to 3.913%. Dollar index rose 0.6% to 102.59. Gold fell 0.8% to $2019 per ounce.

 

Brent futures settled down 0.1%, at $76.55 a barrel and WTI crude finished 0.2% lower at $71.43.

 

In Europe, FTSE fell 1%, DAX was flat while CAC rose 0.3%.  closely watched surveys on Friday showing that the downturn in euro zone business activity surprisingly deepened in December.

 

China posted its biggest industrial output expansion since February 2022 in November, though retail sales growth underwhelmed expectations.

 

For the week, U.S. indices gained 2.5%-2.9%, extending the winning streak to seventh straight week. U.S. 10-year treasury yields fell 32 bps to 3.914% for their worst week since March.

 

AT HOME

 

Sensex and Nifty climbed 1.4% and 1.3% respectively, repeating yesterday's mammoth upmove and hitting fresh record highs. Sensex settled at 71483, up 969 points while Nifty added 274 points to finish at 21456. Nifty mid-cap and small-cap indices gained 0.1% and 0.7% respectively, both hitting fresh record high as well. Nifty IT index soared 4.6%, becoming top gainer among the sectoral indices and posting it's biggest percentage gain since 14th September, 2020. PSU Bank index followed with 2.4% rise. Realty and FMCG indices were the top losers, down 0.7% and 0.3% respectively.

 

FIIs net bought stocks, index futures and stock futures worth Rs 9239 cr, 1451 cr and 3724 cr respectively. DIIs were net sellers to the tune of Rs 3077 cr.

 

India's November trade deficit fell to $20.58 bn vs $31.46 bn month-on-month and $22.06 bn Y-o-Y. Exports fell 2.8% y-o-y to $33.90 bn while imports fell 4.3% to $54.45 bn. Sensex and Nifty climbed 1.4% and 1.3% respectively, repeating yesterday's mammoth upmove and hitting fresh record highs.

 

Rupee appreciated 33 paise to end at 83/$.

 For the week, the Sensex and Nifty surged 2.3%, extending the winning streak to seventh consecutive week and hitting fresh record highs.

OUTLOOK

 

Today morning, Nikkei and Hang Seng are down 1.2% and 0.8% respectively while Shanghai is up 0.1%. GIFT Nifty is suggesting around 75 points lower start for our market.

 

In Friday's report we had said that 21550, around which a upper end of a rising channel formation is placed, was the next upside target to eye while 21000-20950 was the immediate support zone, with the stop-loss of which, trading longs could be held on to.

 

Nifty surged to touch a high of 21492 before closing at 21456 and is set to open below 21400 today.

 

21600, around which upper end of a rising channel formation made by adjoining tops and bottoms since June 2022 is placed, is the next upside target to eye; 21070 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

Having crossed 48000 hurdle, 50000 is the next major target for Banknifty. 47400 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

Investment in securities market is subject to market risk.

Please check https://www.prudentbroking.com/Disclaimert.aspx for detailed disclaimer.