15431 ABOVE 15336; TRAIL STOP-LOSS TO 15090

 

15431 ABOVE 15336; TRAIL STOP-LOSS TO 15090

 

WORLD MARKETS

 

US indices rose 0.5%-1.4% led by technology shares and reopening plays as Covid cases drop to their lowest level since June.

 

Bitcoin, after dropping below $32,000 on Sunday, rebounded about 17% to above $39,000 yesterday.

 

Brent crude rose $1.95, or 2.9%, to $68.40 a barrel, while WTI crude rose $2.36, or 3.7% to $65.94 a barrel.

 

U.S 10-year Treasury yields fell to 1.617%, its lowest in nearly two weeks. The dollar was down 0.2%. Spot gold was up 0.1% at $1,882.83 per ounce.

 

In Europe, DAX was shut for a holiday while FTSE and CAC gained nearly half a percent.

 

AT HOME

 

Benchmark indices ended higher by a fifth of a percent after a rangebound but choppy session, extending the rising streak to second straight day. Sensex settled at 50651, up 111 points while Nifty added 22 points to finish at 15197. Nifty mid-cap and small-cap indices gained 0.7% and 1% respectively. BSE Power and Oil & Gas indices climbed 1.9% and 1.7% respectively, becoming top gainer among the sectoral indices. Telecom and Metal indices were the top losers, down 0.9% and 0.6% respectively.

 

FIIs net bought stocks worth Rs 585 cr but net sold index futures and stock futures worth Rs 370 cr and 1791 cr respectively. DIIs were net sellers to the tune of Rs 708 cr.

 

Rupee depreciated 13 paise to end at 72.96/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.5%-0.8% and SGX Nifty is suggesting around 100 points higher start for our market.

 

In yesterday's report we had said that 15336, the top made in March, was the next upside target to eye while 15030 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty touched a high of 15256 before closing at 15197 and is set to open near 15300 today.

 

15336, the top made in March, continues to be next upside target, above which, 15431, the top made in February, would be the next upside level to eye.

 

Immediate support on the hourly chart has moved up to 15090, with the stop-loss of which, trading longs should be held on to.