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.

 

17300 IS THE NEXT UPSIDE LEVEL TO EYE; TRAIL STOP-LOSS TO 16750

 

17300 IS THE NEXT UPSIDE LEVEL TO EYE; TRAIL STOP-LOSS TO 16750

 

WORLD MARKETS

 

US indices surged 1.6%-3.8% after the Federal Reserve raised interest rates by a quarter of a percentage point in a widely expected move. Reports of progress on ceasefire negotiation between Russia and Ukraine also helped.

 

Federal Reserve hiked its benchmark interest rate for the first time since 2018 and signaled six more hikes this year.

 

Feburary advance retail sales grew 0.3%, slightly below the 0.4% estimate.

 

US 10-year treasury yield, after hitting a high of 2.246%, settled 4 bps higher at 2.19%. Dollar index slipped 0.6% to 98.40. Spot gold rose half a percent to $1,927 per ounce, snapping a 3-day losing streak.

 

Brent crude fell 2.4% to $97.56 per barrel and WTI crude shed 1.4% to settle at $95.04 per barrel.

 

European markets climbed 1.6%-3.8%.

 

AT HOME

 

Benchmark indices surged 1.9% each, rising for the sixth session in last seven days and closing at a 3-week high. Sensex settled at 56816, up 1040 points while Nifty added 312 points to finish at 16975. Nifty mid-cap and small-cap indices rose 2% and 1.2% respectively. All the BSE sectoral indices ended higher, with Realty index on the top, up 3.7%, followed by 2.6% higher Metal and Basic Materials indices.

 

FIIs net bought stocks, index futures and stock futures worth Rs 312 cr, 1823 cr and 1315 cr respectively. DIIs were net buyers to the tune of Rs 773 cr.

 

Rupee appreciated to end at /$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 1.5%-4.7% with Hang Seng on the top. SGX Nifty is suggesting around 250 points higher start for our market.

 

In yesterday's report we had said that 17000 continued to be next upside target while 16450 continues to be immediate support, with the stop-loss of which, trading longs could be held on to.

 

Nifty soared to touch a high of 16987 before closing at 16975. The benchmark is set to open near 17200 today.

 

17300, around which 34-week moving average is placed, is the next upside level to eye; Immediate support on the hourly chart has moved up to 16750, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 37000, around which 34-week moving average is placed, is the upside level to eye; 35100 is the immediate support.

 

17000 CONTINUES TO BE UPSIDE LEVEL TO EYE; 16450 CONTINUES TO BE SUPPORT

 

17000 CONTINUES TO BE UPSIDE LEVEL TO EYE; 16450 CONTINUES TO BE SUPPORT

 

WORLD MARKETS

 

US indices surged 1.8%-2.9% as markets kept an eye on cease-fire negotiations between Ukraine and Russia, while oil prices continued to slide further below $100 per barrel and a reading of wholesale inflation came in lighter than expected.

 

US producer price index (PPI) rose 0.8% in February from the previous month, slightly lower than the 0.9% estimate but still showing a 10% gain from the same time last year. However, core PPI, which excludes food, energy and trade services, rose just 0.2%, below the expectation of 0.6%.

 

US 10-year treasury yield inched up 1 bps to 2.149%. Dollar index was little changed at 99.01. Spot gold dipped 1.8% to $1,916.01 per ounce.

 

Oil extended Monday's slide with WTI falling another 6.4% to settle at $96.44 while Brent settled 6.5% lower at $99.91 per barrel.

 

European markets fell 0.1%-0.25%. Germany's ZEW Economic Sentiment Index plunged in March to -39.3, well below consensus expectations of 10.0 and down from 54.3 in the previous month.

 

Data showed Chinese industrial output rose 7.5% y-o-y in January and February, higher than the 3.9% increase predicted. Retail sales for the first two months of the year also beat expectations, gaining 6.7% as compared with expectations for a 3% rise. Meanwhile, Hong Kong’s Hang Seng index plunged 5.7% to its lowest since Feb. 2016. Sentiment on Chinese tech shares took a hit following a report that Tencent could face a record fine for violating anti-money laundering rules.

 

AT HOME

 

After opening higher by a third of a percent, benchmark indices nosedived a percent and half from the top to end lower by 1.25% each, snapping a 5-day winning streak. Sensex settled at 55776, down 709 points while Nifty lost 208 points to finish at 16663. Nifty mid-cap and small-cap indices fell 0.9% and 1.4% respectively, also falling for the first time in 6 days.. Except 0.6% higher Auto index, all the BSE sectoral indices ended in red, with Metal index leading the losses, down 4.3%, followed by 2.6% lower Oil & Gas index.

 

FIIs net sold stocks, index futures and stock futures worth Rs 1250 cr, 1229 cr and 1064 cr respectively. DIIs were net buyers to the tune of Rs 98 cr.

 

Rupee depreciated 5 paise to end at 76.61/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.8%-2.6% and SGX Nifty is suggesting more than 200 points higher start for our market.

 

In yesterday's report we had said that 17000 continued to be next upside target while immediate support on the hourly chart had moved up to 16450, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a high of 16927, slipped to 16555 before closing at 16663. The benchmark is set to open near 16850 today.

 

17000, around which 200 as well as 34-DMA are placed, continues to be next upside target; 16450 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 35644, the top made yesterday, coincided with 20-DMA and is immediate hurdle, upon crossover of which, 36300-36800 would be next target zone; 34100 continues to be immediate support.

 

Meanwhile, Fed, at the end of its two-day meeting, is widely expected to raise rates by a quarter-point, the first hike since 2018. the Fed is also set to share its updated forecasts on inflation and the economy.

 

TRAIL STOP-LOSS TO 16450

 

TRAIL STOP-LOSS TO 16450

 

WORLD MARKETS

 

Dow ended flat while S & P 500 and Nasdaq fell 0.7% and 2% respectively, getting ready for Fed rate hike and watching Ukraine developments. S & P 500 and Nadaq had their seventh negative session in the past eight.

 

US Fed commences a two-day session today and is widely expected to raise its target fed funds rate by a quarter percentage point from zero.

 

Ukraine and Russia started a fresh round of ceasefire talks yesterday. Meanwhile, Russia is approaching a series of deadlines to make payments on its debt.

 

US 10-year treasury yield jumped 12 bps to 2.142%, hitting its highest level since July 2019. Dollar index was little changed at 99.09. Spot gold fell nearly 1.6% to $1,953.40 per ounce

 

Oil tumbled amid talks between Russia and Ukraine as well as new Covid-19 lockdowns in China — which could dent demand. WTI crude settled 5.8% lower at $103 per barrel while Brent crude shed 5% to $106.90 per barrel.

 

AT HOME

 

Sensex and Nifty surged 1.7% and 1.4% respectively, extending the winning streak to fifth consecutive day and closing at the highest level after 23rd February, 2022. Sensex settled at 56486, up 935 points while Nifty added 240 points to finish at 16871. Nifty mid-cap and small-cap indices inched up 0.2% each, significantly underperforming main indices.

 

BSE Bankex climbed 2.3%, becoming top gainer among the sectoral indices, followed by 2.2% higher IT and Teck indices. Realty index slipped 1.7%, becoming top loser, followed by 0.8% lower Oil & Gas index.

 

FIIs net sold stocks and stock futures worth Rs 177 cr and 840 cr respectively but net bought index futures worth Rs 569 cr. DIIs were net buyers to the tune of Rs 1099 cr.

 

Rupee appreciated 3 paise to end at 76.56/$.

 

February retail inflation rose to 6.07% VS 6.01% in January.

 

OUTLOOK

 

Today morning, Nikkei is up 0.2% but Hang Seng and Shanghai are down 3.6% and 2.5% respectively. SGX Nifty is suggesting around 90 points lower start for our market.

 

In yesterday's report we had said that 16757, the top made last week,  continued to be immediate hurdle, upon crossover of which, 16960 around which 200 as well as 34-DMA are placed, would be the next upside level to eye. We had also advised holding on to long positions witht he stop-loss of 16150.

 

Nifty crossed 16757 and surged all the way to 16888 before closing at 16871. The benchmark is set to open below 16800 today.

 

17000, around which 200 as well as 34-DMA are placed, continues to be next upside target; Immediate support on the hourly chart has moved up to 16450, with the stop-loss of which, trading longs can be held on to.

 

35800 is the next upside target for Banknifty; 34100 is immediate support.

 

16757 IS THE IMMEDIATE HURDLE; 16150 IMMEDIATE SUPPORT

 

16757 IS THE IMMEDIATE HURDLE; 16150 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices fell 0.7%-2.2% on Friday dragged down by losses in Nike and Apple.

 

Russian President Putin said “certain positive shifts” have occurred in the talks between the Kremlin and Ukraine. However, a ceasefire has not been negotiated. Meanwhile, U.S. President Biden called for an end to Russia’s status as a preferred trade partner, while Congress passed a funding bill that includes $14 billion of Ukraine aid.

 

University of Michigan consumer sentiment index sunk to 59.7 in March, down from 62.8 in February and marking the weakest print since September 2011.

 

US 10-year treasury yield rose 1 bps to 2.016%. dollar index jumped 0.6% to 99.13. Spot gold fell 0.3% to $1,991.20 per ounce.

 

Brent crude futures rose $3.34, or 3.1%, to $112.67 a barrel and WTI crude futures rose $3.31, or 3.1%, to $109.33.

 

European markets gained 0.8%-1.4%. UK GDP grew 0.8% month on month in January after a 0.2% decline in December, vastly outstripping expectations of 0.2% growth. German inflation accelerated in February, with harmonized consumer prices rising 5.5% year on year.

 

For the week, Dow fell 2%, extending the losing streak to fifth consecutive week. S & P 500 and Nasdaq plunged 2.9% and 3.5% respectively, falling for the second straight week. Brent and WTI fell 4.8% and 5.7% respectively for their biggest weekly decline since November.

 

AT HOME

 

Benchmark indices ended higher by a fifth of a percent, extending the winning streak to fourth consecutive day. Sensex settled at 55550, up 86 points while Nifty added 35 points to finish at 16630. Nifty mid-cap and small-cap indices gained 0.6% and 0.9% respectively. BSE Healthcare index climbed 2.1%, becoming top gainer among the sectoral indices, followed by 1% higher Oil & Gas index. Auto index was the top loser, down 0.4%, followed by 0.1% lower Telecom, Teck and IT indices.

 

FIIs net sold stocks worth Rs 2264 cr but net bought index futures and stock futures worth Rs 428 cr and 848 cr respectively. DIIs were net buyers to the tune of Rs 1687 cr.

 

Rupee depreciated 28 paise to end at 76.59/$.

 

OUTLOOK

 

Today morning, Nikkei is up a percent while Hang Seng and Shanghai are down 2% and 0.7% respectively as covid wave in China weighed on the sentiment. SGX Nifty is suggesting around 70 points lower start for our market.

 

In Friday's report we had said that 16757, the top made Thursday, which roughly coincided with the top made on 3rd March and 20-DMA, was the immediate hurdle to eye and that 16150 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty rose 35 points to finish at 16630 and is set to open near 16550 today.

 

16757, the top made last week, which roughly coincided with the top made on 3rd March as well as 20-DMA, continues to be immediate hurdle to eye; 16150 continues to be immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 35374, the top made last week, is the immediate hurdle while 33700 is the immediate support.

 

16960 ABOVE 16757; 16150 IS IMMEDIATE SUPPORT

 

16960 ABOVE 16757; 16150 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices fell 0.3%-1% as negotiations between Russia and Ukraine came to a halt without progress on a cease-fire.

 

CPI hit a fresh 40-year high of 7.9% in February, slightly higher than the expected 7.8%. Month-over-month rise stood at 0.8%, above estimates of 0.7%. U.S. Treasury Secretary Janet Yellen warned that America is set for another year of “very uncomfortably high” inflation amid the Russia-Ukraine war.

 

US 10-year Treasury yield rose 4 basis points to 1.99%, after topping 2% for the first time since Feb. 25. Dollar index rose half a percent to 98.52. Spot gold rose 0.2% to $1,996.30 per ounce.

 

Oil prices settled lower as Russia pledged to fulfil contractual obligations. Brent futures, after gaining as much as 6.5% earlier in the session, settled 1.6% lower at $109.33 a barrel. WTI crude fell $2.68, or 2.5%, to settle at $106.02 a barrel, giving up over 5.7% of intraday gains.

 

European markets slipped 1.3%-4.2% with Italy leading the losses. ECB opted to keep interest rates steady, but said it will wind down asset purchases faster than planned, before adding that it stands ready to revisit this decision if the outlook changes.

 

AT HOME

 

Benchmark indices surged a percent and half, extending the winning streak to third straight day. Sensex settled at 55464, up 817 points while Nifty added 249 points to finish at 16594. Nifty mid-cap and small-cap indices rose 0.9% and 1.4% respectively. All the BSE sectoral indices ended higher, with FMCG and Realty indices leading the gains, up 2.7% and 2.2% respectively.

 

FIIs net sold stocks worth Rs 1981 cr but net bought index futures and stock futures worth Rs 1570 cr and 729 cr respectively. DIIs were net buyers to the tune of Rs 946 cr.

 

Rupee appreciated 26 paise to end at 76.30/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of 1.2%-2.7% and SGX Nifty is suggesting around 100 points lower start for our market.

 

In yesterday's report we had said that 16600 followed by 16800 were the next upside levels to eye for Nifty while 16100 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty soared to touch a high of 16757 before closing at 16594 and is set to open near 16500 today.

 

16757, the top made yesterday, which roughly coincides with the top made on 3rd March and 20-DMA, is the immediate hurdle to eye, upon crossover of which, 16960 around which 200 as well as 34-DMA are placed, would be the next upside level to eye; 16150 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

35800 is immediate hurdle for Banknifty; 33600 is immediate support.

 

16800 ABOVE 16600; 16100 IS THE IMMEDIATE SUPPORT

 

16800 ABOVE 16600; 16100 IS THE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices surged 2%-3.6%, with the S & P 500 and Nasdaq Composite rising the most since June 2020 and November 2020 respectively, as commodity prices cooled.

 

WTI crude oil tumbled more than 12%, or $15, to $108.7 per barrel, registering its worst day since Nov. 26 and Brent crude fell 13% or $16.8 to $111.1, for its biggest one-day drop since April 2020.

 

US 10-year treasury yield rose 7 bps to 1.943%. Dollar index plunged 1.1% to 98. Spot gold fell 3.3% to $1,983.96 per ounce.

 

Euorpean markets soared 3.2%-7.9%.

 

AT HOME

 

Sensex and Nifty soared 2.3% and 2.1% respectively, extending the winning streak to second straight day. Sensex settled at 54647, up 1223 points while Nifty finished at 16345, up 331 points. Nifty mid-cap and small-cap indices climbed 2.2% and 2.4% respectively. BSE Energy and Realty indices were the top gainers among the sectoral indices, rising 3.6% and 3.2% respectively whereas Metal and Utilities indices were the top losers, down 0.7% and 0.1% respectively.

 

FIIs net sold stocks and stock futures worth Rs 4819 cr and 179 cr respectively but net bought index futures worth Rs 678 cr. DIIs were net buyers to the tune of Rs 3276 cr.

 

Rupee appreciated 35 paise to end at 76.56/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 1.5%-3.5% and SGX Nifty is suggesting more than 200 points higher start for our market.

 

In yesterday's report we had said that immediate hurdle on the hourly chart had come down to 16400.

 

Nifty soared to touch a high of 16418 before closing at 16345 and is set to open near 16550 today.

 

16600 followed by 16800 are the next upside levels to eye for Nifty; 16100 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

34400 is the immediate hurdle for Banknifty, above which, 36000 would be the next upside level to eye; 32950 is the immediate support.