NIFTY RETREATS FROM 20-DMA HURDLE
WORLD MARKETS
U.S. markets were closed
yesterday for a holiday.
European markets gained
0.2%-0.3%.
Brent as well as WTI
crude fell 1.3% each to $84.20 and $78.85 a barrel respectively.
AT HOME
After rising half a
percent at the open, benchmark indices plunged to end lower by a third of a
percent. This was the 7th red day in last 9 sessions. Sensex settled at 60092,
down 168 points while Nifty lost 61 points to finish at 17894. Nifty mid-cap
and small-cap indices fell 0.2% and 0.1% respectively. BSE Utilities and Power
indices climbed 1.5% and 1.3% respectively, becoming top gainers among the
sectoral indices, while Metal and Telecom indices were the top losers, down 1%
and 0.9% respectively.
FIIs net sold stocks,
index futures and stock futures worth Rs 751 cr, 1165 cr and 774 cr
respectively. DIIs were net buyers to the tune of Rs 686 cr.
Rupee depreciated 28
paise to end at 81.61/$.
India's December WPI
inflation eased to 4.95%, the lowest in 22-monhts, Vs 5.85% in the previous
month. Core WPI fell to 3.2% from 3.5%.
India's December trade
deficit rose 12.8% y-o-y to $23.76 bn Vs $ 21.10 bn.
OUTLOOK
Today morning, Nikkei is
up more than a percent but Hang Seng and Shanghai are down 0.6% and 0.2%
respectively. SGX Nifty is suggesting a marginally higher start for our market.
In yesterday's report we
had said that 20-DMA, placed around 18050, was the immediate hurdle, while
17761, the low made last week, was the immediate support.
Nifty, after touching a
high of 18050, slipped to end at 17894.
18050, the top made
yesterday, which exactly coincided with 20-DMA, is the immediate hurdle, upon
crossover of which, 18265, the top made on 30th December, would be the next
upside level to eye; 17761, the low made last week, continues to be immediate
support.
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