TRAIL STOP-LOSS TO 18450

 

TRAIL STOP-LOSS TO 18450

 

WORLD MARKETS

 

Dow ended flat while S & P 500 and Nasdaq closed with cuts of 0.2% and 0.6% respectively, extending the losing streak to third straight session.  Markets are awaiting Fed Chair Jerome Powell's speech at the Brookings Institution on Wednesday.

 

Data showed that U.S. consumer confidence slipped to a four-month low in November. The S&P CoreLogic Case-Shiller national home price index rose 10.6% y-o-y in September, slowing from August’s increase of 12.9%.

 

US 10-year treasury yield rose 6 bps to 3.748%. Dollar index inched up 0.2% to 106.83. Gold rose half a percent to $1750 per ounce.

 

WTI crude rose 1.2% to $78.20 per barrel while Brent futures fell 16 cents to $83.03.

 

Earlier, Hang Seng and Shanghai surged 5% and 2% respectively after China reported the first decline in Covid infections within mainland China in more than a week and Chinese official told reporters that 65.8% of people “over age 80” had received booster shots.

 

In Europe, FTSE and CAC gained 0.5% and 0.1% respectively but DAX was down 0.2%.

 

AT HOME

 

Benchmark indices rose three tenth of a percent, extending the winning streak to sixth straight day and hitting a fresh record highs. Sensex settled at 62681, up 177 points while Nifty added 55 points to finish at 18618. Nifty mid-cap and small-cap indices however ended lower by half a percent each, snapping 5-day and 6-day winning streak respectively. Nifty FMCG and Metal indices climbed 1.9% 1% respectively, becoming top gainers among the sectoral indices while Realty and Auto indices were the top losers, down 0.3% and 0.2% respectively.

 

FIIs net bought stocks and index futures worth Rs 1242 cr and 340 cr respectively but net sold stock futures worth Rs 299 cr. DIIs were net sellers to the tune of Rs 744 cr.

 

Rupee depreciated 5 paise to end at 81.72/$.

 

OUTLOOK

 

Today morning, Hang Seng and Shanghai are up 0.9% and 0.1% respectively while Nikkei is down 0.6%. SGX Nifty is suggesting a flattish start for our market.

 

In yesterday's report we had said that 18700-18750 was the next target area for Nifty and that immediate support on the hourly chart had moved up to 18360, with the stop-loss of which, trading longs could be held on to.

 

Nifty surged to touch a high of 18678 before closing at 18618.

 

18750-18800 is the next target area for Nifty; Immediate support on the horly chart has moved up to 18450, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 43800-44000 is the next target area while 42600 continues to be immediate support on hourly chart, with the stop-loss of which, trading longs can be held on to.

NIFTY ACHIEVES 18604; TRAIL STOP-LOSS TO 18360

 

NIFTY ACHIEVES 18604; TRAIL STOP-LOSS TO 18360

 

WORLD MARKETS

 

US indices tumbled 1.4%-1.6% as prolonged Covid restrictions and social unrest in China raised supply chain concerns.

 

Apple fell 2.6% on reports that unrest at a factory in China could mean 6 million fewer iPhone Pro units for the year.

 

St. Louis Fed President James Bullard said that the Fed needs to raise interest rates quite a bit further and then hold them there throughout next year and into 2024 to gain control of inflation and bring it back down toward the Fed’s 2% goal.

 

US 10-year treasury yield was little changed at 3.683%. Dollar index rose 0.6% to 106.66. Gold fell 0.7% to $1741 per ounce.

 

WTI crude settled 1.3% higher at $77.24 while Brent crude closed half a percent lower at $83.19 a barrel. 

 

European markets fell 0.2%-1.1%

 

AT HOME

 

After starting around half a percent lower, benchmark indices soared to make a fresh record highs and ended higher by three tenth of a percent each. Sensex settled at 62504, up 211 points while Nifty added 50 points to finish at 18562. Nifty mid-cap and small-cap indices climbed 0.7% and 1.2% respectively. Nifty Oil & Gas index surged 1.6%, becoming top gainer among the sectoral indices, followed by 0.6% higher Auto index. Metal index tumbled 1.1% to become top loser, followed by 0.1% lower Financial Services, IT and Consumer Durables indices.

 

FIIs net bought stocks and index futures worth Rs 936 cr and 1414 cr respectively but net sold stock futures worth Rs 1464 cr. DIIs were net buyers to the tune of Rs 88 cr.

 

S&P cut India's FY23 GDP growth forecast by 30 bps to 7% and FY24 by 50 bps to 6%.

 

Rupee appreciated 2 paise to end at 81.67/$.

 

OUTLOOK

 

Today morning, Hang Seng and Sahnghai are up 2% and 0.8% respectively while Nikkei is down half a percent. SGX Nifty is suggesting around 40 points lower start for our market.

 

In yesterday's report we had said that 18604, the top made last year, continued to be upside level to eye while 18300 continued to be immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

Nifty surged to touch a high of 18614 before closing at 18562.

 

18700-18750 is the next target area for Nifty; Immediate support on the hourly chart has moved up to 18360, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 43800-44000 is the next target area while 42600-42500 is the immediate support area on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

18604 CONTINUES TO BE UPSIDE TARGET; 18300 IMMEDIATE SUPPORT

 

18604 CONTINUES TO BE UPSIDE TARGET; 18300 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow rose 0.4%, S & P 500 was little changed while Nasdaq fell half a percent on Friday.

 

US 10-year treasury yield rose 3 bps to 3.691%. Dollar index rose 0.4% to 106.06. Gold was flat at $1754 per ounce.

 

Brent crude futures dropped 1.6%, to $83.97 a barrel while WTI crude futures were down 1.7%, at $76.62a barrel.

 

European markets ended flat to modestly higher.

 

China on Friday reported a new daily record for COVID-19 infections, as cities across the country continued to enforce mobility measures and other curbs to control outbreaks.

 

For the week, US indices gained 0.7%-1.8%. US 10-year treasury yield fell 14 bps. Dollar index was down 0.8%. Gold inched up 0.2%. Oil fell 4%.

 

Over the weekend, the People’s Bank of China announced it would cut the reserve requirement ratio for banks by 25 bps to 7.8% and inject around 500 billion yuan in long-term liquidity.

 

AT HOME

 

Sensex and Nifty ended marginally higher after a rangebound session, extending the winning streak to fourth consecutive day. Sensex settled at 62293, up 21 points while Nifty added 28 points to finish at 18512. Nifty mid-cap and small-cap indices climbed 1% and 1.1% respectively. Nifty Media and Realty indices were the top gainers among the sectoral indices, up 2.5% and 1.2% respectively while FMCG and Financial Services indices were the top losers, down 0.3% each.

 

FIIs net bought stocks worth Rs 369 cr but net sold index futures and stock futures worth Rs 1657 cr and 285 cr respectively. DIIs were net sellers to the tune of Rs 296 cr.

 

Rupee depreciated 6 paise to end at 81.69/$.

 

For the week, Sensex and Nifty gained 1% and 1.1% respectively to register highest ever weekly close.

 

OUTLOOK

 

Today morning, Hang Seng and Shanghai have opened with deep cuts of 4% and 2% respectively amid unrest in China over its continued zero-Covid policy. Nikkei is down 0.8% and SGX Nifty is suggesting around 70 points lower start for our market.

 

In Friday's report we had said that 18604, the top made last year, was the next upside level to eye while 18300 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a high of 18534, closed at 18512.

 

18604, the top made last year, continues to be upside level to eye while 18300 continues to be immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 43800 is the next upside level to eye while 42600-42500 is the immediate support area on the hourly chart, with the stop-loss of which, trading longs can be held on to.

18604 NEXT; TRAIL STOP-LOSS TO 18300

 

18604 NEXT; TRAIL STOP-LOSS TO 18300

 

WORLD MARKETS

 

US markets were shut yesterday for Thanksgiving holiday.

 

Dollar index fell 0.2% to 105.85. Gold inched up 0.3% to $1754 per ounce.

 

Brent crude fell 0.4% to $85.11 and WTI rose 0.3% to $78.28 per barrel.

 

In Europe, FTSE was flat while DAX and CAC rose 0.8% and 0.4% respectively.

 

AT HOME

 

Benchmark indices surged 1.2% each, extending the winning streak to third consecutive day and with Sensex hitting a record high and Nifty too posting a highest ever close. Sensex settled at 62272, up 762 points while Nifty added 216 points to finish at 18484. Nifty mid-cap and small-cap indices rose 0.4% and 0.5% respectively. Except 0.02% lower Consumer Durables index, all the NSE sectoral indices ended higher, with IT index on the top, up 2.6%, followed by 1.3% higher Financial Services index.

 

FIIs net bought stocks, index futures and stock futures worth Rs 1232 cr, 3226 cr and 2249 cr respectively. DIIs were net sellers to the tune of Rs 236 cr.

 

Rupee appreciated 21 paise to end at 81.63/$.

 

OUTLOOK

 

Today morning, Nikkei and Shanghai are down 0.1% each while Hang Seng is off 1.3%. SGX Nifty is suggesting a modestly lower start for our market.

 

In yesterday's report we had said that 18330 continued to be immediate hurdle on the hourly chart, upon crossover of which, 18442, the top made last week, would be next resistance.

 

Nifty crossed 18330 and surged all the way to 18529 before closing at 18484.

 

18604, the top made last year, is the next upside level to eye; 18300 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

43300-43400, followed by 44000 are the next upside levels for Banknifty; 42600 is immediate support.

 

18442 ABOVE 18330; 18133 IS THE IMMEDIATE SUPPORT

 

18442 ABOVE 18330; 18133 IS THE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices rose 0.3%-1% as minutes of the latest Fed meeting signaled a potential slowdown in tightening ahead.

 

The minutes also showed an emerging debate within the Fed over the risks the rapid policy tightening could pose to economic growth and financial stability, even as policymakers acknowledged there had been little demonstrable progress on inflation and that rates still needed to rise.

 

Data showed U.S. business activity contracted for a fifth straight month in November, with a measure of new orders dropping to its lowest level in 2-1/2 years as higher interest rates slowed demand. Jobless claims increased more than expected last week, even though labor market conditions remain tight.  Durable goods orders for October came in at 1%, more than the 0.5% expected.

 

US 10-year treasury yield fell 6 bps to 3.698%. Dollar index tumbled a percent to 106.10. Gold rose half a percent to $1749 per ounce.

 

Oil tumbled as the G7 nations considered a price cap on Russian oil above the current market level and as US gasoline inventories built by more than expected. Brent January futures fell $3.57, or 4%, to $84.79 a barrel and WTI crude fell $3.50, or 4.3%, to $77.45.

 

European markets gained up to 0.3%. S&P Global's flash Composite PMI for Eurozone rose to 47.8 in November from 47.3 in October.

 

AT HOME

 

Benchmark indices ended marginally higher after a volatile session, extending the wining streak to second consecutive day. Sensex settled at 61510, up 91 points while Nifty added 23 points to finish at 18267. Nifty mid-cap and small-cap indices rose 0.3% and 0.5% respectively. Nifty Media and PSU Bank indices climbed 1.1% and 1% respectively, becoming top gainers among the sectoral indices while Metal and IT indices were the top losers, down 0.4% and 0.1% respectively.

 

FIIs net sold stocks worth Rs 790 cr but net bought index futures and stock futures worth Rs 283 cr and 1198 cr respectively. DIIs were net buyers to the tune of Rs 414 cr.

 

Rupee depreciated 18 paise to end at 81.84/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.2%-1.2% and SGX Nifty is suggesting around 50 points higher start for our market.

 

In yesterday's report we had said that 20-DMA, which had moved up to 18110, continued to be downside support to eye while 18330 continued to be immediate hurdle on the hourly chart.

 

Nifty after touching a high of 18325, slipped to end at 18267.

 

18330 continues to be immediate hurdle on the hourly chart, upon crossover of which, 18442, the top made last week, would be next resistance; 18133, the low made Monday, which now coincides with 20-DMA, is the immediate support.

 

For Banknifty, 43000-43200 continues to be target area; Immediate support on the hourly chart has moved up to 42400, with the stop-loss of which, trading longs can be held on to.

 

US markets will be closed for the Thanksgiving holiday today and will close early on Friday.

 

20-DMA CONTINUES TO BE IMMEDIATE SUPPORT; 18442 ABOVE 18330

 

20-DMA CONTINUES TO BE IMMEDIATE SUPPORT; 18442 ABOVE 18330

 

WORLD MARKETS

 

Dow rose 1.2% while S & P 500 and Nasdaq climbed 1.4% each, on the back of some strong earnings reports and likelihood for an easing in monetary policy from the Fed going forward. S & P 500 closed above key 4000 level for first time since September.

 

Cleveland Fed President Loretta Mester said recent inflation data is promising and that she’d support reduced interest rate hikes going forward.

 

US 10-year treasury yield eased 8 bps to 3.758%. Dollar index fell 0.6% to 107.15. Gold inched up 0.1% to $1740 per ounce.

 

Brent crude rose $1.08, or 1.2%, to $88.53 and WTI crude was up $1.14, or 1.4%, at $81.18.

 

European markets gained 0.3%-1%.

 

AT HOME

 

Benchmark indices rose nearly half a percent each, snapping a 3-day losing streak. Sensex settled at 61418, up 274 points while Nifty added 84 points to finish at 18244. Nifty mid-cap index gained 0.6% while small-cap index ended flat. Except 1.2% lower Realty index, all the NSE sectoral indices ended higher with PSU Bank and Metal indices being the top gainers, up 1.7% and 0.9% respectively.

 

FIIs net sold stocks worth Rs 698 cr but net bought index futures and stock futures worth Rs 1521 cr and 949 cr respectively. DIIs were net buyers to the tune of Rs 636 cr.

 

Rupee appreciated 17 paise to end at 81.67/$.

 

OUTLOOK

 

Nikkei is shut today while Hang Seng and Shanghai are little changed. SGX Nifty is suggesting around 50 points higher start for our market.

 

In yesterday's report we had said that 20-DMA, which had moved up to 18080, continued to be downside support to eye while 18330 was the immediate hurdle on the hourly chart.

 

Nifty, after touching a los of 18137, rebounded to end at 18244.

 

20-DMA, which has now moved up to 18110, continues to be downside support to eye; 18330 continues to be immediate hurdle on the hourly chart, upon crossover of which, 18442, the top made last week, would be next resistance.

 

For Banknifty, 42000 continues to be immediate support; 43000-43200 continues to be target area.

20-DMA LANDS SUPPORT AROUND 18100; 18330 IS IMMEDIATE HURDLE

 

20-DMA LANDS SUPPORT AROUND 18100; 18330 IS IMMEDIATE HURDLE

 

WORLD MARKETS

 

US indices fell 0.1%-1.1% with Nasdaq leading the losses amid fears that China may again ramp up Covid restrictions after reporting first deaths from Covid since May over the weekend.

 

Shares of Disney surged 6.3% after the company announced that former CEO Bob Iger would return to the helm.

 

US 10-year treasury yield were little changed at 3.833%. Dollar index jumped 0.75% to 107.77. Gold fell 0.7% to $1738 per ounce.

 

Oil prices rebounded from early losses on after Saudi Arabia denied a report it was discussing an increase in oil supply with OPEC and its allies. Brent crude futures for January settled 17 cents lower at $87.45. WTI crude futures for December fell 35 cents to $79.73 a barrel.

 

European markets fell 0.1%-1.3%.

 

AT HOME

 

Benchmark indices slipped eight tenth of a percent, extending the losing streak to third straight day. Sensex settled at 61144, down 518 points while Nifty lost 147 points to finish at 18159. Nifty mid-cap index was little changed while small-cap index rose 0.24%. Nifty IT and Realty indices were the top losers among the sectoral indices, down 1.6% and 1.3% respectively while PSU Bank index was the top gainer, up 1.4%, followed by 0.25% higher Media index.

 

FIIs net sold stocks and index futures worth Rs 1594 cr and 761 cr respectively but net bought stock futures worth Rs 194 cr. DIIs were net buyers to the tune of Rs 1263 cr.

 

Rupee depreciated 15 paise to end at 81.84/$.

 

OUTLOOK

 

Today morning, Nikkei is up 0.9% while Hang Seng and shanghai are modestly lower. SGX Nifty is suggesting around 40 points higher start for our market.

 

In yesterday's report we had said that 18209, the low made last week, is the immediate support on the hourly chart, upon breach of which, 20-DMA, placed around 18050, would be the next support.

 

Nifty broke 18209 and plunged all the way to 18133 before closing at 18159.

 

20-DMA, which has moved up to 18080, continues to be downside support to eye; 18330 is the immediate hurdle on the hourly chart, upon crossover of which, 18442, the top made last week, would be next resistance.

 

For Banknifty, 42000 continues to be immediate support; 43000-43200 continues to be target area.

 

18209 IS IMMEDIATE SUPPORT; 18442 IMMEDIATE HURDLE

 

18209 IS IMMEDIATE SUPPORT; 18442 IMMEDIATE HURDLE

 

WORLD MARKETS

 

Dow and S & P 500 gained 0.6% and 0.5% respectively while Nasdaq ended flat on Friday.

 

Boston Fed President Susan Collins expressed confidence that policymakers can tame inflation without doing too much damage to employment.

 

US 10-year treasury yield rose 6 bps to 3.83%. Dollar index inched up 0.3% to 106.97. Gold fell 0.6% to $1750 per ounce.

 

Brent crude tumbled 2.4% to $87.82 per barrel while WTI crude fell 1.9% to $80.08.

 

European markets gained 0.5%-1.2%.  U.K. announced a new fiscal strategy centered on tax hikes and spending cuts as the government looks to plug a massive hole in its public finances.

 

For the week, Dow was flat while S & P 500 and Nasdaq slipped 0.7% and 1.6% respectively. US 10-year treasury yield fell 2 bps to 3.83%. Dollar index inched up half a percent, recouping some of last week's 4% plunge. Gold fell 1.2%. Brent and WTI crude plunged nearly 9% and 10% respectively.

 

AT HOME

 

After falling seven tenth of a percent, benchmark indices recouped most of the losses in late noon surge to end just marginally lower. Sensex settled at 61663, down 87 points while Nifty fell 36 points to finish at 18307. Nifty mid-cap and small-cap indices fell half a percent each. Except 1.5% higher PSU Bank index, all the NSE sectoral indices ended in red, with Auto index leading the losses, down 1.2%, followed by 0.7% lower Pharma index.

 

FIIs net sold stocks and stock futures worth Rs 751 cr and 96 cr respectively but net bought index futures worth Rs 85 cr. DIIs were net buyers to the tune of Rs 890 cr.

 

Rupee depreciated 4 paise to end at 81.69/$.

 

For the week, Sensex and Nifty fell 0.2% each, snapping a 4-week win streak.

 

OUTLOOK

 

Today morning, Nikkei is flat while Hang Seng and Shanghai are down 2.4% and 0.9% respectively. SGX Nifty is suggesting around 70 points lower start for our market.

 

In Friday's report we had said that 18604, the all-time high made in October 2021, continues to be upside target to eye while 18250-18200 wass the immediate support area, with the stop-loss of which, trading longs could be held on to.

 

Nifty slipped to touch a low of 18209 before closing at 18307.

 

18209, the low of the week made on Friday, is the immediate support on the hourly chart, upon breach of which, 20-DMA, placed around 18050, would be the next support; On the way up, 18442, the top made last week, is the immediate hurdle, upon crossover of which, 18604, the  all-time high made in October 2021, would be the next upside level to eye; Meanwhile, trading longs can be held on to with the stop-loss of 18209.

 

For Banknifty, 43000-43200 is the next target area. 42000 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.