15044 IS THE UPSIDE LEVEL TO EYE; 14660 IS IMMEDIATE SUPPORT

 

15044 IS THE UPSIDE LEVEL TO EYE; 14660 IS IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices gained 0.7%-0.8% on Friday despite disappointing April jobs report as the weak number made markets believe easy monetary policies will stay in place for longer. S & P 500 and Dow both hit fresh record highs.

 

Nonfarm payrolls increased by only 266,000 jobs last month after rising by 770,000 in March. Expected figure was 978,000. The unemployment rate rose to 6.1%.

 

US 10-year treasury yield, after initially falling to 1.484%, rebounded to end flat at 1.579%. The dollar index fell 0.34% to 90.561, its lowest since Feb. 26. Spot gold jumped 1.2% to $1,837.54 per ounce.

 

Brent as well as WTI crude settled 0.3% higher at $68.28 and $64.90 per barrel.

 

European markets rose 0.4%-1.3%. German exports grew 1.2% in March to notch an 11th consecutive month of expansion, while industrial output grew 2.5% month-on-month. French industrial output grew 0.8% in March.

 

China’s exports unexpectedly accelerated in April and import growth hit a decade high. A private survey pointed to strong expansion in service sector activity.

 

For the week, the Dow rallied 2.7% to break a two-week losing streak. The S&P 500 gained 1.2%, while the Nasdaq Composite shed 1.5%.

 

AT HOME

 

Sensex and Nifty rose 0.7% and 0.5% respectively, extending the winning streak to third straight day and closing at the highest level since 29th April. Sensex settled at 49206, up 256 points while Nifty added 98 points to finish at 14823. Nifty small-cap index rose 0.7% but mid-cap index fell 0.4%. BSE Metal index soared 5.3%, becoming top gainer among the sectoral indices, followed by 2% higher Basic Materials index. Consumer Durables and Capital Goods indices were the top losers, down 0.4% and 0.1% respectively.

 

FIIs net sold stocks and stock futures worth Rs 1143 cr and 285 cr respectively but net bought index futures worth Rs 402 cr. DIIs were net buyers to the tune of Rs 1468 cr.

 

Rupee appreciated 25 paise to end at 73.51/$.

 

For the week, Sensex and Nifty gained 0.9% and 1.3% respectively, extending the winning streak to second consecutive week.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are up 0.9% and 0.3% respectively while Shanghai is marginally in the red. SGX Nifty is suggesting around 140 points higher start for our market.

 

In Friday's report we had said that 14850-14875 would be next target zone while 14610, the low made Thursday, would work as immediate support.

 

Nifty, after touching a high of 14863 in the initial trade, eased to end at 14823 and is set to open near 14950 today.

 

15044 the top made on 29^th April would be next upside target to eye after today’s gap up opening.

 

14660 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

14850-14875 IS THE NEXT TARGET ZONE; 14610 IMMEDIATE SUPPORT

 

14850-14875 IS THE NEXT TARGET ZONE; 14610 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices rose 0.4%-0.9% following a better-than-expected reading on jobless claims.

 

First-time claims for unemployment insurance totaled 498,000 for the week ended May 1, hitting a fresh pandemic-era low and better than the estimate of 527,000.

 

Brent crude fell by 43 cents, or 0.6%, to $68.54 a barrel while WTI crude futures slipped 92 cents, or 1.4%, to settle at $64.71 per barrel on worries of pandemic surge in India.

 

The yield on the benchmark 10-year Treasury note dipped one basis point to 1.58%. The dollar index fell 0.4%. Spot gold climbed 1.6% to $1,814.50 per ounce, its highest since Feb. 16.

 

European markets gained 0.1%-0.5%. The Bank of England kept its benchmark lending rate and quantitative easing program unchanged, while noting that the U.K.’s economic recovery is accelerating. It upgraded its 2021 growth outlook to 7.25%, slightly above expectations

 

AT HOME

 

Sensex and Nifty gained 0.6% and 0.7% respectively, extending the winning streak to second consecutive day. Sensex added 272 points to settle at 48950 while Nifty finished at 14725, up 107 points. Nifty mid-cap and small-cap indices gained 0.9% and 0.7% respectively. All the BSE sectoral indices ended in green, with Metal and Auto indices leading the tally, up 2.7% and 1.8% respectively.

 

FIIs net bought stocks and stock futures worth Rs 1222 cr and 19 cr respectively but net sold index futures worth Rs 251 cr. DIIs were net sellers to the tune of Rs 633 cr.

 

Rupee appreciated 15 paise to end at 73.76/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.2%-0.7% and SGX Nifty is suggesting around 80 points higher start for our market.

 

In yesterday's report we had reiterated that 14750 continued to be immediate hurdle on the hourly chart while 14416, the bottom made Monday, continued to be immediate support.

 

Nifty, after touching a high of 14744, closed at 14725 and is set to open near 14800 today.

 

14850-14875 would be next target zone after today's gap-up opening.

 

14610, the low made yesterday, would work as immediate support below which, 14416, the bottom made on Monday, would be the bigger support to eye.

14850 ABOVE 14750; 14416 CONTINUES TO BE IMMEDIATE SUPPORT

 

14850 ABOVE 14750; 14416 CONTINUES TO BE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

Dow and S & P 500 rose 0.3% and 0.1% respectively while Nasdaq fell 0.4%.  Dow closed at a record high while for Nasdaq, it was the fourth consecutive down day as Netflix, Amazon and Facebook were among the tech names that declined more than 1% each.

 

Data from ADP showed private payrolls rose 742,000 in April, up from March’s upwardly revised 565,000 but lower than the 800,000 forecast.

 

Brent crude eased 5 cents to $68.83 a barrel while WTI crude settled 6 cents, or 0.1%, lower at $65.63 per barrel.

 

U.S. Treasury yields held steady. The dollar index eased 0.1%. Spot gold rose 0.25% to $1,782 per ounce.

 

European markets climbed 1.4%-2.1%. Eurozone IHS Markit final composite PMI for April came in at 53.8 compared 53.2 in March. Euro zone producer prices rose 1.1% month-on-month in March, in line with expectations.

 

AT HOME

 

Benchmark indices rose nearly nine tenth of a percent, recouping most of yesterday's losses. Sensex settled at 48677, up 424 points while Nifty added 121 points to finish at 14617. Nifty mid-cap and small-cap indices rose 1% and 0.4% respectively. Except 1.2% lower Realty index, all the BSE sectoral indices ended in green, with Healthcare index leading the tally, up 3.1%, followed by 1.7% higher Bankex.

 

FIIs net sold stocks worth Rs 1110 cr but net bought index futures and stock futures worth Rs 10 cr and 722 cr respectively. DIIs were net sellers to the tune of Rs 241 cr.

 

Rupee depreciated 6 paise to end at 73.91/$.

 

RBI unveiled a host of measures to boost fund flow to the healthcare sector and ease the pain of small borrowers and units. The RBI has opened an on-tap liquidity window of Rs 50,000 crore with tenors of up to three years at the repo rate – four per cent — till March 31, 2022 to boost provision of immediate liquidity for ramping up Covid-related healthcare infrastructure and services in the country. Also, the RBI has decided to conduct special three-year long-term repo operations (SLTRO) of Rs 10,000 crore at repo rate for small finance banks, to be deployed for fresh lending of up to Rs. 10 lakh per borrower. SFBs will be permitted to reckon fresh lending to smaller MFIs (with asset size of up to Rs 500 crore) for on-lending to individual borrowers as priority sector lending.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.3%-2% and SGX Nifty is suggesting around 70 points higher start for our market.

 

In yesterday's report we had said that, 14750 continued to be immediate hurdle on the hourly chart while 14416, the bottom made Monday, continued to be immediate support.

 

Nifty touched a high of 14638 and closed at 14617. The benchmark is set to open near 14700 today.

 

14750 continues to be immediate hurdle on the hourly chart, upon crossover of which, 14850-14875 would be next target zone.

 

14416, the bottom made Monday, continues to be immediate support.

 

Hero MotoCorp will declare its quarterly earnings today.

 

14750-14416 CONTINUES TO BE IMMEDIATE RANGE

 

14750-14416 CONTINUES TO BE IMMEDIATE RANGE

 

WORLD MARKETS

 

Dow inched up 0.1% while S & P 500 and Nasdaq slipped 0.7% and 1.9% respectively as Big Tech and other high-growth stocks fell following treasury Secretary Janet Yellen’s comments that interest rates may have to rise somewhat to keep economy from overheating.

 

Dollar index rose 0.4% to 91.34, it's highest in nearly two weeks. 10-year treasury yield, after making a low of 1.557, rebounded to end at 1.594. Spot gold fell over 1% to $1774.70.

 

Brent crude rose $1.01, or 1.5%, to $68.50 a barrel while WTI settled $1.20, or 1.9%, higher at $65.69 per barrel after more U.S. states eased lockdowns and the European Union sought to attract travellers.

 

European markets fell 0.7%-2.5%.

 

Markets in China and Japan remain closed for public holidays.

 

AT HOME

 

After rising more than half a percent in the initial trade, benchmark indices nosedived a percent and half from the top of the day to end lower by nearly a percent. Sensex settled at 48253, down 465 points while Nifty lost 137 points to finish at 14496. Nifty mid-cap and small-cap indices fell 0.4% and 0.9% respectively. BSE Healthcare and Telecom indices tumbled 1.5% and 1.3% respectively, becoming top losers among the sectoral indices while Oil & Gas and Utilities indices were the top gainers, up 0.7% and 0.2% respectively.

 

FIIs net sold stocks and index futures worth Rs 1772 cr and 288 cr respectively but net bought stock futures worth Rs 1178 cr. DIIs were net buyers to the tune of Rs 987 cr.

 

Rupee appreciated 7 paise to end at 73.85/$.

 

OUTLOOK

 

Markets in China and Japan remain closed for public holidays. Hang Seng is up 0.4%. SGX Nifty is suggesting around 20 points higher star for our market.

 

In yesterday's report we had said that 14750 was the immediate hurdle on the hourly chart while 14416, the low made Monday, was the immediate support.

 

Nifty, after touching a high of 14723 in the initial trade, slipped to end at 14507.

 

14750 continues to be immediate hurdle on the hourly chart.

 

14416, the bottom made Monday, continues to be immediate support, below which, 14273 and 14151 would be next downside levels to eye.

 

14416 IS THE IMMEDIATE SUPPORT; 14750 IMMEDIATE HURDLE

 

14416 IS THE IMMEDIATE SUPPORT; 14750 IMMEDIATE HURDLE

 

WORLD MARKETS

 

Dow and S & P 500 gained 0.7% and 0.3% respectively while Nasdaq fell half a percent as shares of companies that would benefit the most from an economic reopening rose.

 

Retail stocks led the market advance with Gap and Macy’s rallying more than 7%.

 

New York Gov. Andrew Cuomo announced that most capacity restrictions will be lifted across New York, New Jersey and Connecticut, while 24-hour subway service will resume in New York City later this month. Florida Gov. Ron DeSantis signed an executive order on Monday that immediately suspends the state’s remaining health restrictions.

 

US ISM Manufacturing PMI for April came in at 60.7, lower than the expected 65.0 and March’s level of 64.7. IHS Markit Manufacturing Business Activity PMI Index came in at 60.5, above the 59.1 print in March.

 

The yield on the benchmark 10-year Treasury note fell about 3 basis points to 1.608%. Dollar index fell 0.4% to 90.88. Spot gold rose 1.3% to $1,791 per ounce.

 

Brent crude rose 80 cents, or 1.2%, to $67.56 per barrel while WTI settled 91 cents, or 1.4%, higher at $64.49 per barrel.

 

European markets gained 0.6%-1.1%. Euro zone factory activity growth surged to a record high in April. German retail sales posted their biggest year-on-year increase in March since the start of the Covid pandemic.

 

AT HOME

After starting with a cut of a percent and half, benchmark indices recouped all the losses through the session to end little changed. Sensex settled at 48718, down 63 points while Nifty added 3 points to finish at 14634. Nifty mid-cap and small-cap indices gained 0.3% and 1.1% respectively. BSE Telecom index surged 3.5%, becoming top gainer among the sectoral indices, followed by 1.5% higher Metal index. Consumer Durables and Energy indices were the top losers, down 2% and 1.1% respectively.

 

FIIs net sold stocks, index futures and stock futures worth Rs 2289 cr, 1916 cr and 193 cr respectively. DIIs were net buyers to the tune of Rs 553 cr.

 

Rupee appreciated 14 paise to end at 73.91/$.

 

OUTLOOK

 

Markets in Japan and China continue to be closed for holidays. Hang Seng is little changed and SGX Nifty is suggesting around 15 points lower start for our market.

 

In yesterday's report we had said that 14446, the 67% retracement level of the recent 14151-15044 upmove, would be the next downside level to eye after gap-down opening.

 

Nifty, after touching a low of 14416 in the initial trade, rebounded to end at 14634.

 

14750 is the immediate hurdle on the hourly chart, upon crossover of which, 14855, the top made on Friday, would be the next upside level to eye.

 

14416, the low made yesterday, is the immediate support.

 

14446 IS THE NEXT SUPPORT; 14855 IMMEDIATE HURDLE

 

14446 IS THE NEXT SUPPORT; 14855 IMMEDIATE HURDLE

 

WORLD MARKETS

 

US indices fell 0.5%-0.8% on Friday, the last trading day of the month, as one of the busiest weeks of the first quarter earnings reporting season came to a close.

 

Economic data came strong. March spending jumped a better-than-expected 4.2%, while personal incomes surged by a massive 21.1%. The PCE Price Index rose 0.5%, while the core PCE Index, which excludes food and energy, rose 0.4% in the month. Chicago PMI for April showed a reading of 72.1, the highest in almost four decades, amid more fiscal stimulus.

 

Brent crude fell 1.91%, or $1.31, to settle at $67.25 per barrel while WTI settled 2.2%, or $1.43, lower at $63.58 per barrel.

 

The yield on the benchmark 10-year Treasury note fell slightly to 1.629%. Dollar index jumped 0.7% at 91.263, the largest daily gain since late February. Spot gold fell 0.1% to $1,770.41 per ounce.

 

In Europe, except 0.1% higher FTSE, other markets fell 0.1%-0.6%

 

China’s official manufacturing purchasing managers index declined to 51.1 in April from 51.9 in March. Japan’s factory activity expanded in April at the fastest pace since early 2018 on a global demand recovery. China’s factory activity growth, however, slowed more than expected.

 

For the week, Dow and Nasdaq fell 0.5% and 0.4% respectively while S & P 500 was flat. Brent and WTI crude gained For the week Gold fell 0.3%. Dollar index ended the week up 0.5%.

 

For the month, US indices climbed 2.7%-5.4%. Brent and WTI crude climbed 8% and 10% respectively in April, marking the fifth monthly gains in six months. The dollar index was down 2.1% for the month of April, its largest monthly loss since December.

 

AT HOME

 

Sensex and Nifty nosedived 2% and 1.8% respectively on Friday, snapping 4-day winning streak. Sensex settled at 48782, down 983 points while Nifty lost 263 points to finish at 14631. Nifty mid-cap and small-cap indices fell 0.4% each. BSE Finance index and Bankex tumbled 2.7% and 2.6% respectively, becoming top losers among the sectoral indices while Oil & Gas and Healthcare indices were the top gainers, up 1.3% and 0.8% respectively.

 

FIIs net sold stocks and index futures worth Rs 3465 cr and 2963 cr respectively but net bought stock futures worth Rs 661 cr. DIIs were net buyers to the tune of Rs 1419 cr.

 

Rupee depreciated 2 paise to end at 74.06/$.

 

For the week, Sensex and Nifty gained 1.9% and 2% respectively, snapping 3-week losing streak.

 

For the month, Nifty and Sensex fell 0.4% and 1.5% respectively.

 

Results of assembly election showed that TMC retained power in West Bengal, BJP retained power in Assam, DMK coalition won Tamil Nadu, LDF won Kerala while BJP coalition won Puducherry.

 

GST collections in April hit a record 1.41 lk cr mark.

 

Haryana and Odisha announced strict lockdown measures while Delhi extended restrictions by a week.

 

Auto sales for April were subdued.

 

OUTLOOK

 

Markets in China and Japan are closed today for holidays. Hang Seng is down more than a percent and SGX Nifty is suggesting around 120 points lower start for our market.

 

In Friday's report we had said that 15044, the top made Thursday, would work as immediate hurdle, while 14555 was the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

Nifty, plunged all the way to 14601 before closing at 14631 and is set to open near 14500 today.

 

14446, the 67% retracement level of the recent 14151-15044 upmove, would be the next downside level to eye after today's gap-down opening.

 

14855, the top made Friday, would work as immediate hurdle.

 

Kotak Mahindra Bank will report its quarterly earnings today.

 

STAY LONG WITH THE STOP-LOSS OF 14555

 

STAY LONG WITH THE STOP-LOSS OF 14555

 

WORLD MARKETS

 

Dow and S & P 500 gained 0.7% each while Nasdaq rose 0.2% following strong economic data and a blowout earnings results from Apple and Facebook.

 

US GDP increased at a 6.4% annualized rate in the first quarter, the second-fastest growth since the third quarter of 2003. Initial claims for state unemployment benefits fell 13,000 to 553,000 during the week ended April 24,

 

US 10-year Treasury yields rose 2 basis points to 1.639%. Spot gold fell 0.9% to $1,764.50 per ounce.

 

Amazon's profits more than tripled to $8.1 billion and January-to-March sales soared 44% to $108 billion. Twitter's user growth figure and second-quarter revenue guidance fell short of forecasts.

 

Brent crude rose 89 cents, or 1.3%, to $68.16 a barrel while WTI crude was up 83 cents, or 1.3%, at $64.69 a barrel.

 

In Europe, FTSE and CAC ended marginally lower while DAX fell 0.9%. Eurozone economic sentiment climbed to 110.3 points in April compared to 100.9 in March, vastly outstripping estimates. German consumer price inflation grew to 2.1% in April.

 

AT HOME

 

After rising more than a percent in the initial trade, benchmark indices gave away most of the gains to end just marginally higher. Sensex settled at 49765, up 32 points while Nifty added 30 points to finish at 14894. Nifty mid-cap index fell 0.1% while small-cap index gained 0.6%. BSE Metal index soared 5.2%, becoming top gainer among the sectoral indices, followed by 2.4% higher Basic Materials index. Auto and Telecom indices were the top losers, down 1.1% and 1% respectively.

 

FIIs net bought stocks and stock futures worth Rs 809 cr and 481 cr respectively but net sold index futures worth Rs 648 cr. DIIs were net sellers to the tune of Rs 942 cr.

 

Rupee appreciated 31 paise to end at 74.04/$.

 

For the April derivative series, Nifty climbed 4%.

 

OUTLOOK

 

Today morning, Hang Seng is down more than a percent while Shanghai is off half a percent. SGX Nifty is suggesting around 130 points lower start for our market.

 

In yesterday's report we had said that 14984, the top made on 9th April, was the next upside level, above which, 15150, around which a trendline adjoining recent tops made on daily chart was placed, would be the next upside level to eye.

 

Nifty opened near 14984 and touched a high of 15044, but retreated from there to end at 14895 and is set to open below 14800 today.

 

15044, the top made yesterday, would work as immediate hurdle, upon crossover of which, 15150, around which a trendline adjoining recent tops made on daily chart was placed, would be the next upside level to eye.

 

14555 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

Reliance Industries will report its quarterly earnings today.