15513 IS THE IMMEDIATE SUPPORT; 15817 IMMEDIATE HURDLE

 

15513 IS THE IMMEDIATE SUPPORT; 15817 IMMEDIATE HURDLE

 

WORLD MARKETS

 

Dow and S & P 500 rose 0.4% each and hit record intraday highs while Nasdaq inched up 0.1%.

 

U.S. second-quarter GDP accelerated 6.5% from the year prior, slightly stronger than the 6.3% annualized gain in the first quarter, but well below 8.4% expectation. Weekly jobless claims stood at 400,000, nearly double the pre-pandemic norm.

 

US 10-year treasury yield was little changed at 1.264%. Dollar index slipped 0.5% to 91.98, its lowest since June 29. Spot gold climbed 1.3% to $1,830.11 per ounce.

 

Brent oil futures advanced $1.31, or 1.8%, to $76.05 per barrel while WTI crude oil futures settled $1.23, or 1.7%, higher at $73.62 per barrel.

 

European markets gained 0.4%-1%. Euro zone economic sentiment index rose to 119.0 points in July, the highest since data collection began in 1985 and up from 117.9 in June.

 

Amazon shares sank nearly 7% in extended trading after it reported its first quarterly revenue miss in three years and gave weaker guidance.

 

AT HOME

 

Benchmark indices gained four tenth of a percent each, snapping 3-day losing streak. Sensex settled at 52653, up 209 points while Nifty added 69 points to finish at 15778. Nifty mid-cap and small-cap indices climbed 0.7% and 0.9% respectively. BSE Metal index surged 5.5%, becoming top gainer among the sectoral indices, followed by 2.7% higher Basic Materials indices. FMCG and Telecom indices were the top losers, down 0.9% and 0.6% respectively.

 

FIIs net sold stocks worth Rs 866 cr but net bought index futures and stock futures worth Rs 1054 cr and 1877 cr respectively. DIIs were net buyers to the tune of Rs 2047 cr.

 

Rupee appreciated 8 paise to end at 74.28/$.

 

Tech Mahindra exceeded expectation on revenue as well as margin front with highest constant currency revenue growth in six quarters.

 

OUTLOOK

 

Today morning, Nikkei is down 1.6% while Hang Seng and Shanghai are off 1.1% each. SGX Nifty is suggesting around 80 points lower start for our market.

 

In yesterday's report we had said that 15513, the low made Wednesday, which also coincided with a downward sloping trendline adjoining recent bottoms on the hourly chart, was the immediate support while 15800 was the immediate hurdle on the hourly chart.

 

Nifty, after touching a high of 15817, closed at 15778 and is set to open near 15700 today.

 

15513, the low made Wednesday, continues to be immediate support to eye.

 

15817, the top made yesterday, is the immediate hurdle, upon crossover of which, 15900-15962 would be the bigger resistance zone to eye.

 

Britannia, Sun Pharma, IPC and UPL will report theri quarterly earnings today.

 

15513 IS THE IMMEDIATE SUPPORT; 15800 IMMEDIATE HURDLE

 

15513 IS THE IMMEDIATE SUPPORT; 15800 IMMEDIATE HURDLE

 

WORLD MARKETS

 

Dow fell 0.4%, S & P 500 ended flat while Nasdaq gained 0.7%.

 

Federal Reserve keeping interest rates in a target range near zero and made no move on asset purchases. Fed Chairman Powell cautioned in a press conference that while the economy is making progress toward its goals, there’s a ways to go before the central bank will adjust its easy policies.

 

The yield on the benchmark 10-year Treasury note was little changed at 1.229%. Spot gold inched up 0.1% to $1,801.10 per ounce.

 

Brent crude rose 26 cents, or 0.4%, to settle at $74.74 per barrel, while WTI crude settled 74 cents, or 1%, higher at $72.39 per barrel after data showed Crude inventories fell by 4.1 million barrels in the week to July 23.

 

In Europe, FTSE and DAX gained 0.3% each while CAC climbed 1.2%.

 

AT HOME

 

After falling a percent and half, benchmark indices recouped most of the losses to end lower by just a fourth of a percent, extending the losing streak to third straight day. Sensex settled at 52443, down 135 points while Nifty lost 37 points to finish at 15709. Nifty mid-cap and small-cap indices fell 0.3% and 0.5% respectively. BSE Telecom index soared 4.4%, becoming top gainer among the sectoral indices, followed by 1.4% higher Metal index. Auto index and Bankex were the top losers, down 1% and 0.8% respectively.

 

FIIs net sold stocks and index futures worth Rs 2275 cr and 356 cr respectively but net bought stock futures worth Rs 435 cr. DIIs were net buyers to the tune of Rs 921 cr.

 

Rupee appreciated 8 paise to end at 74.38/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.4%-1.8%, with Hang Seng on the top. SGX Nifty is suggesting a marginally higher start for our market.

 

In yesterday's report we had said that 15701, the low made Tuesday, was the immediate support, upon breach of which, 15578, the low made last week, would be the next downside level to eye.

 

Nifty broke 15701 support and plunged all the way to 15513, but rebounded smartly from there to end at 15709.

 

15513, the low made yesterday, which also coincided with a downward sloping trendline adjoining recent bottoms on the hourly chart, is the immediate support to eye.

 

15800 is the immediate hurdle on the houlry chart, upon crossover of which, 15900-15962 would be the next target/resistance zone.

 

15700 IS THE IMMEDIATE SUPPORT; 15900-15962 IS THE RESISTANCE ZONE

 

15700 IS THE IMMEDIATE SUPPORT; 15900-15962  IS THE RESISTANCE ZONE

 

WORLD MARKETS

 

US indices fell 0.2%-1.2%, snapping a five-day winning streak. Nasdaq fell the most.

 

US Fed wraps up it's two-day meeting today and markets would watch out for any comments on when tapering of the central bank’s asset purchases could begin.

 

3 big Tech companies reported quarterly results after market closed. Apple beat top- and bottom-line estimates and said iPhone sales jumped 50% y-o-y. Google-parent Alphabet registered a 69% jump in advertising revenue, while Microsoft beat earnings despite a dip in revenue from its Windows division.

 

The IMF warned that there’s a risk inflation will prove to be more than just transitory, pushing central banks to take pre-emptive action.

 

The yield on the benchmark 10-year Treasury note fell 4 basis points to 1.236%. The dollar index slipped 0.3%. Spot gold rose 0.2% to $1,800.46 per ounce.

 

Brent crude futures climbed 26 cents, or 0.35%, to $74.76 per barrel while WTI crude futures rose 8 cents to $71.99 a barrel.

 

European markets slipped 0.4%-0.9%

 

AT HOME

 

Benchmark indices slipped half a percent, extending the losing streak to second straight day. Sensex settled at 52578, down 273 points while Nifty lost 78 points to finish at 15746. Nifty mid-cap index fell 0.4% while small-cap index ended flat. BSE Heatlhcare index tumbled 2.9%, becoming top loser among the sectoral indices, followed by 1.5% lower Power index. Metal index climbed 1.7%, becoming top gainer, followed by 0.2% higher Consumer Durables index.

 

FIIs net sold stocks, index futures and stock futures worth Rs 1459 cr, 608 cr and 105 cr respectively. DIIs were net buyers to the tune of Rs 730 cr.

 

Rupee depreciated 4 paise to end at 74.46/$.

 

Dr Reddy plunged after reporting a lower-than-expected quarterly earnings for Q1FY22 and US market regulator SEC's subpoena of documents for CIS geographies.

 

The IMF cut India's FY22 GDP growth forecast to 9.5%, a 300 bps cut from it's April forecast.

 

OUTLOOK

 

Today morning, Nikkei and Shanghai are down nearly a percent each while Hang Seng is up a percent. SGX Nifty is suggesting around 30 points higher start for our market.

 

In yesterday's report we had said that 15726, the low made Thursday, continued to be immediate support,

 

Nifty, after touching a low of 15701, closed at 15746.

 

15701, the low made yesterday, is the immediate support, upon breach of which, 15578, the low made last week, would be the next downside level to eye.

 

15900-15962 is the resistance zone on the way up.

 

Maruti and Nestle will report their quarterly earnings today.

 

15726 CONTINUES TO BE IMMEDIATE SUPPORT; 15962 IMMEDIATE HURDLE

 

15726 CONTINUES TO BE IMMEDIATE SUPPORT; 15962 IMMEDIATE HURDLE

 

WORLD MARKETS

 

Dow and S & P 500 gained 0.24% each while Nasdaq inched up 0.03%, all extending the winning streak to fifth straight day and hitting fresh record highs.

 

The Fed begins a two-day meeting Tuesday, followed by a news conference by Chair Powell on Wednesday, where markets would watch out for for any comments on when tapering of the central bank’s asset purchases could begin.

 

June new home sales were weaker by 6.6% compared to the 3% increase initially estimated.

 

US 10-year treasury yield was little changed at 1.291%. The dollar index fell 0.261% to 92.654. Spot gold too fell 0.2% to $1,798.41 per ounce.

 

Brent futures rose 18 cents to $74.28 a barrel, while WTI crude gained 5 cents to trade at $72.12 per barrel.

 

In Europe, CAC inched up 0.2%, FTSE was flat while DAX fell 0.3%. German Ifo July business climate index fell to 100.8 from June’s revised 101.7, missing a projection of 102.

 

Earlier stocks in Hong Kong tumbled amid regulatory fears in China’s technology and private education sectors. Also, later in the day, a high-level meeting between U.S. and Chinese officials ended with criticism on both sides.

 

AT HOME

 

Benchmark indices ended lower by a fifth of a percent, snapping 2-day winning streak. Sensex settled at 52852, down 123 points while Nifty lost 32 points to finish at 15824. Nifty mid-cap index was little changed while small-cap index gained 0.3%. BSE Energy index was the top loser among the sectoral indices, down 1.1%, followed by 0.8% lower Realty and Power indices. Basic Materials and Consumer Durables indices were the top gainers, up 0.8% and 0.7% respectively.

 

FIIs net sold stocks worth Rs 2379 cr but net bought index futures and stock futures worth Rs 74 cr and 709 cr respectively. DIIs were net buyers to the tune of Rs 1551 cr.

 

Rupee depreciated 2 paise to end at 74.42/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.1%-0.6% and SGX Nifty is suggesting around 50 points higher start for our market.

 

In yesterday's report we had said that 15726, the low made Thursday, was the immediate support.

 

Nifty, after touching a low of 15797, closed at 15824.

 

15726, the low made Thursday, continues to be immediate support, below which, 15578, the bottom made last week, would be the important support to eye.

 

15962, the top made last week, continues to be the resistance to eye.

 

34357, the low made last week, is the immediate support for Banknifty; 35300-35500 is the resistance zone.

 

15726 IS THE IMMEDIATE SUPPORT; 15962 IS THE HURDLE

 

15726 IS THE IMMEDIATE SUPPORT; 15962 IS THE HURDLE

 

WORLD MARKETS

 

On Friday, Dow rose 0.7% while S & P 500 and Nasdaq climbed 1% each to hit new records.

 

The yield on the benchmark 10-year Treasury note added 3 bps to reach 1.288%. Dollar index was slightly higher at 92.894. Spot gold fell 0.3% to $1,800.72 per ounce.

 

Brent crude advanced 31 cents, or 0.4%, to settle at $74.10 while WTI settled 16 cents, or 0.2%, higher at $72.07 per barrel.

 

European market rose 0.8%-1.4%. July’s flash PMI readings showed euro zone business activity growing at its fastest pace in more than two decades. U.K. retail sales grew 0.5% in June after a surprise pullback in May, however the IHS Markit/CIPS flash PMI dropped to 57.7 in July from 62.2 in June as the number of people instructed to isolate by the government’s test-and-trace app soared due to rising infections.

 

For the week, US indices gained 1%-2.8%. U.S. crude ended the week little changed while Brent gained 0.4%.  Gold shed 0.7%. Dollar index inched up 0.1%.

 

AT HOME

 

Sensex and Nifty gained 0.3% and 0.2% respectively, extending yesterday's mammoth upmove. Sensex settled at 52975, up 138 points while Nifty added 32 points to finish at 15856. Nifty mid-cap index rose 0.2% while small-cap index fell half a percent. BSE Realty index and Bankex climbed 1.5% and 1.2% respectively, becoming top gainers among the sectoral indices while Capital Goods index slipped 0.8%, becoming top loser, followed by 0.7% lower Industrials and Telecom indices.

 

FIIs net sold stocks worth Rs 163 cr but net bought index futures and stock futures worth Rs 697 cr and 149 cr respectively. DIIs were net buyers to the tune of Rs 2188 cr.

 

Rupee appreciated 6 paise to end at 74.40/$.

 

For the week, Sensex and Nifty fell 0.3% and 0.4% respectively.

 

Reliance Industries' Net profit and margin came in higher-than-expected but topline was a miss. ITC's revenue beat estimates and Cigarette volume climbed 32%%. ICICI posted big beat on NII front and NIM's were highest ever.

 

OUTLOOK

 

Nikkei, which has opened after holidays, is up 1.4% while Hang Seng and Shanghai are down 1.7% and 1.1% respectively. SGX Nifty is suggesting around 80 points lower start for our market.

 

In Friday's report we had said that 15840 continued to be immediate hurdle on the hourly chart, upon sustained trading above which, 15962, the top made last week, would be the next upside level to eye.

 

Nifty crossed 15840 hurdle and touched a high of 15900 and closed at 15856. The benchmark is set to open below 15800 today.

 

15726, the low made Thursday, is the immediate support, below which, 15578, the bottom made last week, would be the important support to eye.

 

15962, the top made last week, is the resistance to eye.

 

Axis Bank, Kotak Mahindra Bank, L & T and Tata Motors will report their quarterly earnings today.

 

15962 ABOVE 15840; 15726 IS IMMEDIATE SUPPORT

 

15962 ABOVE 15840; 15726 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices gained 0.1%-0.4%, extending the winning streak to third straight day.

 

Jobless claims for the week ended July 17 increased 51,000 to 419,000, the highest level since mid-May and higher than the expected figure of 350,000. Existing home sales rose slightly in June, breaking a four-month slide.

 

The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.263%. The dollar index rose 0.1% to 92.87. Spot gold inched up 0.1% to $1,804.45 per ounce.

 

Brent crude rose $1.56, or 2.2%, to $73.79 per barrel while WTI added $1.61, or 2.3%, to settle at $71.91 per barrel.

 

In Europe, except 0.4% lower FTSE, other markets gained 0.3%-0.6%. ECB held monetary policy steady, but tweaked guidance to reflect its recently-hiked inflation target. The bank vowed to maintain a “persistently accommodative” stance until its target is met consistently.

 

AT HOME

 

Benchmark indices soared 1.2% each, registering biggest gain in 2-months. Sensex added 638 points to settle at 52837 while Nifty finished at 15824, up 192 points. Nifty mid-cap and small-cap indices gained 1.1% and 1.5% respectively. Except 0.2% lower FMCG index, all the BSE sectoral indices ended in green, with Metal and Telecom indices leading the tally, up 3.3% and 3.1% respectively.

 

FIIs net sold stocks worth Rs 248 cr but net bought index futures and stock futures worth Rs 1152 cr and 1497 cr respectively. DIIs were net buyers to the tune of Rs 943 cr.

 

Rupee appreciated 15 paise to end at 74.46/$.

 

OUTLOOK

 

Today, Nikkei continues to be shut while Hang Seng and Shanghai are down 0.5% and 0.3% respectively. SGX Nifty is suggesting around 20 points higher start for our market.

 

In yesterday's report we had said that 15840 was the immediate hurdle on the hourly chart while 15578, the low made Tuesday, was the immediate support.

 

Nifty surged to 15834 before closing at 15824.

 

15840 continues to be immediate hurdle on the hourly chart, upon sustained trading above which, 15962, the top made last week, would be the next upside level to eye.

 

15726, the bottom made yesterday, would work as immediate support, below which, 15578, the low made Tuesday, would be the crucial support to eye.

 

Reliance Industries and JSW Steel will report their quarterly earnings today.

 

15840 IS IMMEDIATE HURDLE

 

15840 IS IMMEDIATE HURDLE

 

WORLD MARKETS

 

US indices surged 1.5%-1.6% on Tuesday, recouping much of their losses from Monday’s sell-off.

 

Yesterday, US indices gained 0.8%-0.9%, extending previous session's solid gains and turning positive for the week.

 

Coca-Cola and Johnson & Johnson reported better-than-expected earnings.

 

US 10-year Treasury yield jumped 8 bps to 1.29%. Dollar index inched lower by 0.2% to 92.755, pulling back from more than three-month high. Spot gold fell 0.4% to $1,803.41 per ounce.

 

Brent crude futures climbed 4.2% to $72.23 per barrel while WTI futures gained 4.6% to settle at $70.30 per barrel

 

European markets climbed 1.4%-2.5%

 

Japan’s exports rose 48.6% in June as compared with a year earlier, higher than a 46.2% increase expected.

 

AT HOME

 

After falling more than a percent in the morning, Sensex and Nifty recouped some of the losses in noon to end lower by 0.7% and 0.8% respectively, extending the losing streak to third consecutive day and closing at the lowest level after 9th June and 2nd June respectively. Sensex settled at 52198, down 355 points while Nifty lost 120 points to finish at 15632. Nifty mid-cap and small-cap indices tumbled 1.4% each. All the BSE sectoral indices ended in red with Realty and Metal indices leading the losses, down 2.4% each.

 

FIIs net sold stocks, index futures and stock futures worth Rs 2835 cr, 1785 cr and 365 cr respectively. DIIs were net buyers to the tune of Rs 873 cr.

 

Rupee appreciated 25 paise to end at 74.62/$.

 

OUTLOOK

 

Nikkei is shut today while Hang Seng is up nearly 1.5% and Shanghai is up 0.1%. SGX Nifty is trading around 15735, suggesting nearly 100 points higher start when compared to Tuesday's close of Nifty futures.

 

In Tuesday's report we had said that 15632, the low made on 9th July was the next important support to eye.

 

Nifty, after achieving 15632 level, fell further to 15578, but recovered from there to end at 15632. The benchmark is set to open above 15700 today.

 

15578, the low made Tuesday, is the immediate support to eye, below which, 15450, the low made in June, would be the crucial support.

 

15840 is the immediate hurdle on the hourly chart, with the stop-loss of which, trading shorts can be held on to.

 

33900, the low made in June, is the next support for Banknifty; 35400-35500 is the immediate resistance zone.

 

HUL and Bajaj Auto will report their quarterly earnings today.

 

15632 IS NEXT SUPPORT; 15836-15882 IMMEDIATE RESISTANCE ZONE

 

15632 IS NEXT SUPPORT; 15836-15882 IMMEDIATE RESISTANCE ZONE

 

WORLD MARKETS

 

US indices tumbled 1.1%-2.1% as concerns grew over the potential impact of a Covid resurgence on the global economic recovery.

 

The U.S. is averaging about 26,000 daily cases in the last seven days, more than double the average from a month ago. Several countries in Southeast Asia have also been battling a resurgence in infections, and Goldman Sachs recently slashed its 2021 growth forecasts for most of the region. Several major European countries have reimposed social restrictions, while the U.K. lifted most remaining restrictions on Monday despite reporting a high number of daily cases.

 

The yield on the benchmark 10-year Treasury note fell 11 basis points to 1.189%, its lowest level since February, intensifying fears of an economic slowdown. Dollar index inched up 0.2% to 92.868.Spot gold shed 0.2% to $1,807.59.

 

U.S. oil plunged 7.5% to $66.42 per barrel for its worst day since September 2020 while Brent dipped 6.8% to $68.62 per barrel as OPEC and its allies agreed to raise output, and as the delta Covid variant threatens global demand.

 

European markets plunged 2.3%-3.3%.

 

AT HOME

 

Benchmark indices nosedived 1.1% each, suffering the biggest fall after 30th April, 2021. Sensex settled at 52553, down 586 points while Nifty lost 171 points to finish at 15752. Nifty mid-cap index fell 0.8% while small-cap index managed to end marginally in the green.  BSE Bankex and Finance indices nosedived 1.8% each, becoming top gainers among the sectoral indices while Realty and Healthcare indices were the top gainers, up 0.2% each.

 

FIIs net sold stocks, index futures and stock futures worth Rs 2199 cr, 2069 cr and 808 cr respectively. DIIs were net buyers to the tune of Rs 1048 cr.

 

Rupee depreciated 31 paise to close at 74.87/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of 0.2%-0.6% and SGX Nifty is suggesting around 20 points lower start for our market.

 

In yesterday's report we had said that the low made during first hour would be the important support to eye, upon breach of which, 15632, the low made on 9th July, would be the crucial support to eye.

 

Nifty broke first hour low and plunged all the way to 15707 before closing at 15752.

 

15632, the low made on 9th July is the next important support to eye.

 

15836-15882, the gap created by yesterday's gap-down opening, would work as immediate resistance zone.