TRAIL STOP-LOSS TO 19850

 

TRAIL STOP-LOSS TO 19850

 

WORLD MARKETS

 

Dow ended marginally in the green while S & P 500 and Nasdaq fell 0.1% and 0.2% respectively.

 

U.S. third quarter GDP accelerated at a 5.2% annualized pace, better than the 5% forecast and above the initial estimate of 4.9%.

 

U.S. 10-year treasury yield fell 6 bps to 4.259%. Dollar index inched up 0.1% to 102.84. Gold rose 0.2% to $2044 per ounce.

 

The WTI crude for January rose 1.9% to settle at $77.86 a barrel, while the Brent crude rose 1.7% to $83.10 a barrel.

 

In Europe, FTSE fell 0.4% while DAX and CAC gained 1.1% and 0.2% respectively.  German inflation on an EU-harmonized basis slowed to 2.3% in November, significantly more than the 2.6% forecast in a Reuters poll.

 

AT HOME

 

Benchmark indices surged just over a percent and closed at the highest level after 18th September. Sensex settled at 66901, up 727 points while Nifty added 206 points to finish at 20096. Nifty mid-cap and small-cap indices climbed 0.8% and 1% respectively, with both hitting fresh record highs and the former rising for the 19th consecutive session. Nifty Auto and Bank indices were the top gainers among the sectoral indices, up 1.6% each, while Realty index was the top loser, down 0.5%, followed by 0.1% lower Media and Consumer Durables indices.

 

FIIs net bought stocks, index futures and stock futures worth Rs 72 cr, 1334 cr and 3301 cr respectively. DIIs were net buyers to the tune of Rs 2361 cr.

 

Rupee ended flat at 83.33/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of upto 0.6% and GIFT Nifty is suggesting a flattish start for our market.

 

In yesterday's report we had said that 20222, the top made in September, was the next major target to eye while 19750 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty surged to touch a high of 20104 before closing at 20096.

 

20222, the top made in September, continues to be next upside target to eye; 19850 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 44700 followed by 45400 are the next upside targets; 43800 is the immediate support, with the stop-loss of which, trading longs can be held on to.

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