34-DMA CONTINUES TO BE IMMEDIATE HURDLE; 17050 IMMEDIATE SUPPORT

 

34-DMA CONTINUES TO BE IMMEDIATE HURDLE; 17050 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices fell 0.2%-0.3% with the Dow snapping a six-day winning streak.

 

Jobless claims for last week came in at 198,000, lower than the expected 205,000 figure.

 

US 10-year treasury yield fell 3.5 bps to 1.508%. Dollar index inched up 0.1% to 96. Gold rose half a percent to $1814 per ounce.

 

Brent crude advanced 0.11% to $79.32 per barrel and WTI crude futures settled 0.56% higher at $76.99 per barrel.

 

In Europe, FTSE fell 0.2% while DAX and CAC gained 0.2% each.

 

AT HOME

 

Benchmark indices ended little changed after a rangebound trade on the expiry day of the December derivative series. Sensex settled at 57794, down 12 points while Nifty eased 10 points to finish at 17204. Nifty mid-cap index fell 0.4% while small-cap index inched up 0.24%. BSE IT and Teck indices climbed 1% and 0.8% respectively, becoming top gainers among the sectoral indices while Energy and Oil & Gas indices were the top losers, down 1.6% and 1.4% respectively.

 

FIIs net sold stocks worth Rs 986 cr but net bought index futures and stock futures worth Rs 425 cr and 1153 cr respectively. DIIs were net buyers to the tune of Rs 577 cr.

 

Rupee appreciated 32 paise to end at 74.41/$.

 

For the December derivative series, Nifty fell 1.9%.

 

OUTLOOK

 

Nikkei is shut today while Hang Seng and Shanghai are up 1.8% and 0.4% respectively. SGX Nifty is suggesting around 25 points higher start for our market.

 

In yesterday's report we had said that 34-DMA, placed around 17320 was the upside hurdle to eye and that 17000 continued to be immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a low of 17146 closed at 17204.

 

34-DMA, which has now moved closer to 17300, is the upside hurdle to eye, upon crossover of which, 17500, where a trendline adjoining tops made in October and November is placed, would be the next upside level to eye; 17050 is the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

For Banknifty, 35535, the upper end of the gap created by last week's gap-down opening, continues to be immediate hurdle, upon crossover of which, 20-DMA, placed around 35900, would be the next upside level to eye; 34233, the low made Monday, is the immediate support.

34-DMA CONTINUES TO BE IMMEDIATE HURDLE; 17000 IMMEDIATE SUPPORT

 

34-DMA CONTINUES TO BE IMMEDIATE HURDLE; 17000 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow and S & P 500 saw modest gains to close at new records while Nasdaq inched lower by 0.1%.

 

The U.S. goods trade deficit hit a record in November at $97.8 billion, up $14.6 billion from $83.2 billion in October.

 

US 10-year treasury yield jumped 7 bps to 1.55%. Dollar index fell 0.3% to 95.88. Gold, after hitting an intraday low of $1789, rebounded to end flat at $1804 per ounce.

 

Brent crude climbed 29 cents, or 0.4%, to settle at $79.23 per barrel and WTI crude settled 58 cents, or 0.8%, higher at $76.56 per barrel.

 

In Europe, FTSE gained 0.7% while DAX and CAC eased 0.7% and 0.3% respectively.

 

AT HOME

 

After rising three tenth of a percent in the initial trade, benchmark indices slipped to end marginally in the red, snapping 2-day winning streak. Sensex settled at 57806, down 90 points while Nifty lost 19 points to finish at 17213. Nifty mid-cap and small-cap indices however gained 0.1% and 0.6% respectively, extending the winning streak to third straight day. BSE Metal index was the top loser among the sectoral indices, down 1%, followed by 0.6% lower Power and Utilities indices. Healthcare index was the top gainer, up 1.7%, followed by 0.4% higher Auto index.

 

FIIs net sold stocks, index futures and stock futures worth Rs 975 cr, 162 cr and 264 cr respectively. DIIs were net buyers to the tune of Rs 1007 cr.

 

Rupee depreciated 8 paise to end at 74.73/$.

 

OUTLOOK

 

Today morning, Hang Seng and Shanghai are up 0.6% and 0.2% respectively while Nikkei is down 0.1%. SGX Nifty is suggesting around 25 points higher start for our market.

 

In yesterday's report we had said that 34-DMA, placed around 17350, continued to be next upside level to eye and that immediate support on the hourly chart had moved up to 17000, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a high of 17285, slipped to end at 17213.

 

34-DMA, placed around 17320 is the upside hurdle to eye; 17000 continues to be immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

For Banknifty, 35535, the upper end of the gap created by last week's gap-down opening, continues to bee immediate hurdle, upon crossover of which, 20-DMA, placed around 36000, would be the next upside level to eye; 34233, the low made Monday, is the immediate support.

 

17350 IS THE UPSIDE LEVEL TO EYE; 17000 IMMEDIATE SUPPORT

 

17350 IS THE UPSIDE LEVEL TO EYE; 17000 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow inched up 0.3% while S & P 500 and Nasdaq fell 0.1% and 0.6% respectively

 

The Centers for Disease Control and Prevention announced that it was shortening its isolation recommendation for people who test positive to five days from 10 if those people do not have symptoms. Also, research out of South Africa indicated that omicron infections can help boost immunity to the earlier delta strain of Covid.

 

US 10-year treasury yield was little changed at 1.484%. Dollar index inched up 0.1% to 96.15. Gold fell 0.3% to $1806 per ounce.

 

Brent crude settled 0.43% higher at $78.94 per barrel while WTI crude advanced 0.54% to end the day at $75.98 per barrel.

 

In Europe, FTSE was shut while DAX and CAC gained 0.8% and 0.6% respectively.

 

AT HOME

 

Benchmark indices climbed eight tenth of a percent, extending the winning streak to second straight day and closing at the highest level after 16th December. Sensex added 477 points to settle at 57897 while Nifty added 147 points to finish at 17233. Nifty mid-cap and small-cap indices gained 1.2% and 1.6% respectively. All the BSE sectoral indices ended higher, with Capital Goods index on the top, up 1.6%, followed by 1.5% higher Basic Materials and Industrials indices.

 

FIIs net bought stocks and stock futures worth Rs 207 cr and 1102 cr respectively but net sold index futures worth Rs 34 cr. DIIs were net buyers to the tune of Rs 567 cr.

 

Rupee appreciated 35 paise to end at 74.65/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of 0.4%-0.8% and SGX Nifty is suggesting around 30 points lower start for our market.

 

In yesterday's report we had said that 17155, the top made Friday, which coincided with 20-DMA, is the immediate hurdle, upon crossover of which, 34-DMA, placed around 17370, would be the next upside level to eye.

 

Nifty touched a high of 17250 before closing at 17233.

 

34-DMA, placed around 17350, continues to be next upside level to eye.

 

Immediate support on the hourly chart has moved up to 17000, with the stop-loss of which, trading longs could be held on to.

 

For Banknifty, 35535, the upper end of the gap created by last week's gap-down opening, continues to bee immediate hurdle, upon crossover of which, 20-DMA, placed around 36000, would be the next upside level to eye; 34233, the low made Monday, is the immediate support.

17370 ABOVE 17155; 16833 IS THE IMMEDIATE SUPPORT

 

17370 ABOVE 17155; 16833 IS THE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow rose 1% while S & P 500 and Nasdaq climbed 1.4% each, with the S & P 500 closing at a record as technology, energy and retail stock led the gainers.

 

Holiday sales rose 8.5% in 2021 from last year, the fastest pace in 17 years, according to Mastercard data.

 

US 10-year treasury yield eased 1.4 bps to 1.479%. Dollar index was flat at 96.07. Gold rose half a percent to $1811 per ounce.

 

Brent crude surged 3.2%, to $78.60 per barrel while WTI crude settled 2.4% higher at $75.57 per barrel.

 

In Europe, FTSE was shut while DAX and CAC gained 0.5% and 0.8% respectively.

 

AT HOME

 

After falling a percent in the initial trade, benchmark indices surged a percent and half from the bottom of the day to end higher by half a percent. Sensex settled at 57420, up 295 points while Nifty added 82 points to finish at 17086. Nifty mid-cap and small-cap indices gained 0.4% and 0.2% respectively. BSE Healthcare and Consumer Durables were the top gainers among the sectoral indices, rising 1.4% and 0.8% respectively. Metal index was the top loser, down 0.4%, followed by marginally lower Telecom, FMCG and Energy indices.

 

FIIs net sold stocks worth Rs 1038 cr but net bought index futures and stock futures worth Rs 55 cr and 537 cr respectively. DIIs were net buyers to the tune of Rs 956 cr.

 

Rupee appreciated 2 paise to end at 74.99/$.

 

OUTLOOK

 

Today morning, Nikkei is up 1% while Hang Seng and Shanghai are modestly lower. SGX Nifty is suggesting around 90 points higher start for our market.

 

In yesterday's report we had said that 16850 was the immediate support on the hourly chart while 20-DMA, placed around 17155, continued to be immediate hurdle to eye.

 

Nifty, after touching a low of 16833, rebounded to end at 17086. The benchmark is set to open near 17150 today.

 

17155, the top made Friday, which coincided with 20-DMA, is the immediate hurdle to eye, upon crossover of which, 34-DMA, placed around 17370, would be the next upside level to eye; On the way down, 16833, the low made yesterday, is the  immediate support.

 

For Banknifty, 35535, the upper end of the gap created by last week's gap-down opening, is the immediate hurdle, upon crossover of which, 20-DMA, placed around 36000, would be the next upside level to eye; 34233, the low made yesterday, is the immediate support.

 

17155 IS THE IMMEDIATE HURDLE; 16850 IMMEDIATE SUPPORT

 

17155 IS THE IMMEDIATE HURDLE; 16850 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US markets were shut on Friday for Christmas holiday.

 

In Europe, markets in Germany, Italy and Switzerland were closed to mark the Christmas holiday. FTSE was flat while CAC fell 0.3%.

 

Gold fell 0.4% to $1802 per ounce.

 

Brent crude fell 1.1% to $75.88 a barrel snapping a 3-day winning streak.

 

AT HOME

 

Sensex and Nifty slipped 0.3% and 0.4% respectively, snapping 3-day winning streak. Sensex settled at 57124, down 190 points while Nifty lost 68 points to finish at 17003. Nifty mid-cap and small-cap indices tumbled 1% and 0.5% respectively. Except 0.7% and 0.5% higher IT and Teck indices respectively, all the BSE sectoral indices ended in red, with Power and Utilities indices leading the losses, down 2% each.

 

FIIs net sold stocks worth Rs 715 cr but net bought index futures and stock futures worth Rs 70 cr and 395 cr respectively. DIIs were net sellers to the tune of Rs 43 cr.

 

Rupee appreciated 21 paise to end at 75.02/$.

 

For the week, Sensex inched up 0.2% while Nifty was little changed.

 

OUTLOOK

 

Hang Seng is shut today, Nikkei is down 0.2% while Shanghai is up 0.2%. SGX Nifty is suggesting around 35 points lower start for our market.

 

In Friday's report we had said that 20-DMA, placed around 17140, continues to be upside level to eye, upon decisive crossover of which, 34-DMA, placed around 17400, would be the next major target as well as resistance to eye.

 

Nifty, after touching a high of 17155, slipped to end at 17003.

 

17155, the top made Friday, which coincided with 20-DMA, is the immediate hurdle to eye, upon crossover of which, 34-DMA, placed around 17400, would be the bigger hurdle to negoitate; On the way down, 16850 is the immediate support on the hourly chart.

 

For Banknifty, 35535, the upper end of the gap created by Monday's gap-down opening, is the immediate hurdle, a crossover of which is required for a fresh upmove. If that happens, 20-DMA, placed around 36000, would be the next upside level to eye; 34390, the low made Tuesday, is the immediate support, below which, 34018, the low made on Monday would be the next downside level to eye.

 

17400 ABOVE 17140; 16850 IS IMMEDIATE SUPPORT

 

17400 ABOVE 17140; 16850 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow and S & P 500 gained 0.6% each while Nasdaq rose 0.8%, with all of them extending the winning streak to third consecutive day and S & P 500 closing at a record as investor confidence grew on signs that Omicron might be less severe than feared, as well as robust U.S. economic data.

 

New studies suggested that omicron has a lower risk of hospitalization than other Covid variants. The USFDA authorized Merck’s antiviral pill for Covid-19.

 

Weekly jobless claims came in about as expected at 205,000. Durable goods for November rose 2.5%, compared to the 1.5% estimate. Personal income and spending showed increases for November. But on the inflation side, the Federal Reserve’s closely watched core personal consumption expenditures index rose 0.6% in November from the month prior. Core PCE rose 4.7% y-o-y in November, higher than the 4.5% rate expected.

 

US 10-year treasury yield rose 4 bps to 1.494%. Dollar index fell 0.4% to 96.12. Gold rose a third of a percent to $1808 per ounce.

 

Brent crude futures advanced 2.1%, or $1.56, to $76.85 per barrel and WTI crude futures settled $1.03, or 1.4%, higher at $73.79.

 

European markets gained 0.4%-1.2%

 

US markets are shut today for the Christmas holiday. For the week, US indices gained 1.7%-3.2%.

 

AT HOME

 

Benchmark indices climbed 0.7% each, extending the winning streak to third straight day and closing at one week high. Sensex settled at 57315, up 384 points while Nifty added 117 points to finish at 17072. Nifty mid-cap and small-cap indices climbed 0.9% and 1.3% respectively. Except 0.8% and 0.3% lower Telecom and Metal indices respectively, all the BSE sectoral indices ended higher, with Realty and Oil & Gas indices on the top, up 2.2% and 1.5% respectively.

 

FIIs net sold stocks worth Rs 272 cr but net bought index futures and stock futures worth Rs 989 cr and 1770 cr respectively. DIIs were net buyers to the tune of Rs 1196 cr.

 

Rupee appreciated 31 paise to end at 75.24/$.

 

OUTLOOK

 

Today morning, except 0.1% lower Shanghai, other Asian markets are trading with modest gains and SGX Nifty is suggesting around 60 points higher start for our market.

 

In yesterday's report we had said that 20-DMA, placed around 17150, was the next upside level to eye and that 16688, the bottom made Tuesday, would now act as immediate support.

 

Nifty surged to touch a high of 17118 before closing at 17072. The benchmark is set to open above 17100 today.

 

20-DMA, placed around 17140, continues to be upside level to eye, upon decisive crossover of which, 34-DMA, placed around 17400, would be the next major target as well as resistance to eye.

 

Immediate support on the hourly chart has moved up to 16850, with the stop-loss of which, trading longs could be held on to.

 

For Banknifty, 35535, the upper end of the gap created by Monday's gap-down opening, is the immediate hurdle to eye, upon crossover of which, 20-DMA, placed around 36000, would be the next level to eye; 34390, the low made Tuesday, is the immediate support.

 

17150 IS THE NEXT UPSIDE LEVEL TO EYE; 16688 IMMEDIATE SUPPORT

 

17150 IS THE NEXT UPSIDE LEVEL TO EYE; 16688 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices gained 0.7%-1.2% after the U.S. Food and Drug Administration granted authorization for Pfizer’s Covid treatment pill, the first oral antiviral drug cleared during the pandemic.

 

On the data front, 3rd (final) estimate showed that the U.S. economy grew by +2.3% in Q3CY21, slightly higher than +2.1% in the 2nd estimate and +6.7% printed in Q2CY21. Another data shows that the U.S. Conference Board Consumer Confidence surged to 115.8 in December against November reading 111.9, higher than the market expectations 110.8.

 

US 10-year treasury yield eased 1 bps to 1.455%. Dollar index slipped 0.4% to 96.12. Gold gained 0.8% to reach $1802 per ounce.

 

Brent crude settled $1.31, or 1.77%, higher at $75.29 a barrel while WTI crude futures advanced $1.64, or 2.3%, to settle at $72.76 per barrel.

 

European markets rose 0.6%-1.2%.

 

AT HOME

 

Benchmark indices soared 1.1% each, extending the winning streak to second straight day. Sensex settled at 56930, up 611 points while Nifty added 184 points to finish at 16955. Nifty mid-cap and small-cap indices surged 1.6% and 2.2% respectively. All the BSE sectoral indices ended higher with Realty index leading the tally, up 2.9%, followed by 2% higher Capital Goods, Industrials and Energy indices.

 

FIIs net sold stocks and index futures worth Rs 827 cr and 810 cr respectively but net bought stock futures worth Rs 2130 cr. DIIs were net buyers to the tune of Rs 1593 cr.

 

Rupee appreciated 5 paise to end at 75.55/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.1%-0.3% and SGX Nifty is suggesting around 70 points higher start for our market.

 

In yesterday's report we had said that 16966, the upper end of the gap created by Monday's gap-down opening, continues to be immediate hurdle to eye, upon crossover of which, 20-DMA, placed around 17150, would be the next hurdle.

 

Nifty touched a high of 16971 before closing at 16955. The benchmark is set to open near 17000 today.

 

20-DMA, placed around 17150, is the next upside level to eye; 16688, the bottom made Tuesday, would now act as immediate support.

 

For Banknifty, 35231-35535, the gap created by Monday's gap-down opening, continues to be immediate resistance zone; 34390, the low made Tuesday, is the immediate support.

 

16966 IS THE IMMEDIATE HURDLE; 16265 BELOW 16410

 

16966 IS THE IMMEDIATE HURDLE; 16265 BELOW 16410

 

WORLD MARKETS

 

US indices climbed 1.6%-2.4%, snapping 3-day losing streak.

 

President Joe Biden in a press conference urged Americans to get their booster shots and also reiterated that the U.S. will not bring back the strict lockdowns that were imposed at the start of the pandemic.

 

Some economists lowered their growth forecasts for the United States after Democratic lawmaker Sen. Joe Manchin’s refusal to approve Biden’s $1.75 trillion spending plan.

 

US 10-year treasury yield rose 4 bps to 1.47%. Dollar index was little changed at 96.48. Gold eased 0.1% to $1788 per ounce.

 

Brent crude settled $2.46, or 3.4%, higher at $73.98 per barrel, and WTI crude rose $2.51, or 3.66%, to settle at $71.12 per barrel.

 

European markets gained 1.4%-1.8%.

 

AT HOME

 

After climbing just under 2%, benchmark indices gave away half of the gains in noon to end 0.9% higher. Sensex settled at 56319, up 497 points while Nifty added 156 points to finish at 16770. Nifty mid-cap and small-cap indices gained 1.3% each.

 

All the BSE sectoral indices ended in green, with Metal and Consumer Durables indices leading the tally, up 3% and 2.2% respectively.

 

FIIs net sold stocks worth Rs 1210 cr but net bought index futures and stock futures worth Rs 3068 cr and 2165 cr respectively. DIIs were net buyers to the tune of Rs 1405 cr.

 

Rupee appreciated 31 paise to end at 75.60/$.

 

OUTLOOK

 

Today morning, Hang Seng is up 0.7% while Nikkei and Shanghai are little changed. SGX Nifty is suggesting around 70 points higher start for our market.

 

In yesterday's report we had said that 16840-16966, the gap created by Monday's gap-down opening, would now act as the immediate resistance zone and that trading shorts can be held on to with the stop-loss of 16966.

 

Nifty, after touching a high of 16936, slipped to end at 16770.

 

16966, the upper end of the gap created by Monday's gap-down opening, continues to be immediate hurdle to eye, upon crossover of which, 20-DMA, placed around 17150, would be the next hurdle.

 

16410, the bottom made Monday, is the immediate support, below which, 200-DMA, placed around 16265, would be the next level to eye.

 

For Banknifty, 35231-35535, the gap created by Monday's gap-down opening, is the immediate resistance zone; 34018, the bottom made Monday, is the immediate support, below which, 33800 would be next support.