TRAIL STOP-LOSS TO 17800

 

TRAIL STOP-LOSS TO 17800

 

WORLD MARKETS

 

After falling sharply in the initial trade, US indices staged a smart rebound to end flat to modestly lower. Nasdaq erased 2.7% loss to end marginally higher, snapping a four-day losing streak.

 

US 10-year treasury yield, after touching a high of 1.808%, ended flat at 1.762%. Dollar index inched up 0.2% to 95.95. Gold gained 0.3% to reach $1801 an ounce.

 

Brent crude declined 88 cents, or 1.1%, to $80.87 per barrel and WTI crude settled 67 cents, or 0.85%, lower at $78.23 per barrel.

 

European markets fell 0.5%-1.4%.  Euro zone unemployment fell to 7.2% in November from 7.3% in October, while the Sentix index showed euro zone investor morale has risen in January from 13.5 to 14.9, ahead of expectations.

 

AT HOME

 

Benchmark indices soared 1.1% each, closing in green for the sixth of the past seven sessions and ending at the highest level after 15th November. Sensex settled at 60395, up 650 points while Nifty added 190 points to finish at 18003. Nifty mid-cap and small-cap indices rose 0.8% and 1.3% respectively. All the BSE sectoral indices ended in green, with Capital Goods index on the top, up 2.3%, followed by 1.9% each higher Realty and Industrials indices.

 

FIIs net sold stocks and index futures worth Rs 124 cr and 539 cr respectively but net bought stock futures worth Rs 560 cr. DIIs were net buyers to the tune of Rs 482 cr.

 

Rupee appreciated 26 paise to end at 74.04/$.

 

OUTLOOK

 

Today morning, Nikkei and Hang Seng are down 0.9% and 0.4% respectively while Shanghai is little changed. SGX Nifty is suggesting around 70 points lower start for our market.

 

In yesterday's report we had said that upon crossover of 17944, 18210, the top made in November, would be the next upside target to eye and had advised holding on to long positions with the stop-loss of 17560.

 

Nifty surged to touch a high of 18017 before closing at 18003.

 

18210, the top made in November, continues to be the next upside target; Immediate support on the hourly chart has moved up to 17800, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 38845 and 39250, the 61.8% and 67% retracement levels of the entire 41830-34018 fall, continue to be next upside levels to eye; Immediate support has moved up to 37550.

 

18210 ABOVE 17944; 17560 CONTINUES TO BE IMMEDIATE SUPPORT

 

18210 ABOVE 17944; 17560 CONTINUES TO BE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

On Friday, Dow ended flat while S & P 500 and Nasdaq fell 0.4% and 1% respectively, with S & P 500 and Nasdaq extending the losing streak to fourth consecutive day.

 

December’s nonfarm payrolls grew by 199,000, lower than the expected 422,000. However, the unemployment rate dropped to 3.9% as against the expected 4.1% mark and average hourly earnings increased by 0.6%, above expectations.

 

US 10-year treasury yield rose 4 bps to 1.764% after hitting a 2-year high of 1.799%. Dollar index slipped half a percent to 95.74. Gold inched up 0.3% to $1796 an ounce.

 

Brent crude settled down 24 cents, or 0.3%, to $81.75 a barrel, while WTI crude was down 56 cents, or 0.7%, at $78.90 a barrel.

 

In Europe, FTSE rose half a percent while DAX and CAC fell 0.6% and 0.4% respectively. Euro zone inflation surged to all-time high of 5% in December. Germany’s trade surplus dropped to its smallest level in November since 2011 and industrial production also fell 0.2% month-on-month.

 

For the week, Dow and S & P 500 fell 0.3% and 1.9% respectively while Nasdaq plunged 4.5%, posting its worst week since February 2021. Oil rose 5% for its third straight weekly gain.

 

AT HOME

 

Sensex and Nifty ended higher by 0.24% and 0.4% respectively after a choppy session. Sensex settled at 59744, up 142 points while Nifty added 66 points to finish at 17812. Nifty mid-cap and small-cap indices gained 0.5% and 0.4% respectively. BSE Basic Materials and Oil & Gas indices were the top gainers among the sectoral indices, up 1.3% and 1.1% respectively whereas Capital Goods and Telecom indices were the top losers, down 0.8% and 0.4% respectively.

 

FIIs net bought stocks and index futures worth Rs 496 cr and 578 cr respectively but net sold stock futures worth Rs 116 cr.

 

Rupee appreciated 19 paise to end at 74.30/$.

 

For the week, Sensex and Nifty gained 2.6% each, extending the winning streak to third straight day and closing at the highest level after the week ended 12th November. 

 

NSO's first advance estimate projected FY22 GDP growth at 9.2%, which is lower than RBI's 9.5% estimate. Nominal GDP is projected at Rs. 232 trillion, a growth of 17.6%.

 

OUTLOOK

 

Nikkei is shut today while Hang Seng is up 0.7% and Shanghai is down 0.2%. SGX Nifty is suggesting around 80 points higher start for our market.

 

In Friday's report we had said that 17560 continued to be immediate support on the hourly chart while 17944, the top made on Wednesday, was the immediate upside level to eye.

 

Nifty, after touching a high of 17905, closed at 17812 and is set to open near 17900 today.

 

17944 is the top made last week, upon crossover of which, 18210, the top made in November, would be the next upside target to eye; 17560 continues to be immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 38845 and 39250, the 61.8% and 67% retracement levels of the entire 41830-34018 fall, are the next upside levels to eye; 36850 is the immediate support on the hourly chart.

 

17560 CONTINUES TO BE IMMEDIATE SUPPORT; 17944 IMMEDIATE HURDLE

 

17560 CONTINUES TO BE IMMEDIATE SUPPORT; 17944 IMMEDIATE HURDLE

 

WORLD MARKETS

 

Dow fell half a percent while S & P 500 and Nasdaq inched lower by 0.1% each.  Nasdaq fell for its seventh negative session in the last eight.

 

Weekly jobless claims totaled 207,000 for the week ended Jan. 1, higher than the expected 195,000. U.S. trade deficit widened sharply in November to $80.2 billion from a revised $67.2 billion in October. ISM services index fell to three-month low of 62% last month from record 69.1% in November.

 

US 10-year treasury yield rose 2 bps to 1.725%. Dollar index inched up 0.1% to 96.24. Gold slipped 1% to $1791 per ounce

 

Brent crude futures advanced $1.19, or 1.5%, to $81.99 per barrel and WTI futures settled 2.07%, or $1.61, higher at $79.46 per barrel on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya.

 

European markets fell 0.9%-1.8%.

 

AT HOME

 

Benchmark indices slipped a percent each, snapping 4-day winning streak. Sensex settled at 59601, down 621 points while Nifty lost 179 points to finish at 17745. Nifty mid-cap and small-cap indices however inched up 0.1% and 0.2% respectively. BSE Realty and IT indices were the top losers among the sectoral indices, down 1.5% and 1.4% respectively whereas Telecom index climbed 1.3%, becoming the top gainer, followed by 0.6% higher Auto index.

 

FIIs net sold stocks, index futures and stock futures worth Rs 1927 cr, 3013 cr and 1249 cr respectively. DIIs were net buyers to the tune of Rs 801 cr.

 

Rupee depreciated 13 paise to end at 74.49/$.

 

OUTLOOK

 

Today morning Asian markets are trading with gains of 0.3%-0.7% and SGX Nifty is suggesting around 40 points higher start for our market.

 

In yesterday's report we had said that 18210, the top made in November, was the next upside level to eye and that immediate support on the hourly chart had moved up to 17560, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a low of 17655, rebounded to end at 17745.

 

17560 continues to be immediate support on the hourly chart; 17944, the top made on Wednesday, is the immediate upside level to eye, above which, 18210, the top made in November, would be the next target.

 

Meanwhile, trading longs can be held on to with the stop-loss of 17560.

 

For Banknifty, above 37900, 38850 and 39250, the 61.8% and 67% retracement levels of the entire 41830-34018 fall, would be the next targets; 36200 is the immediate support.

 

TRAIL STOP-LOSS TO 17560

 

TRAIL STOP-LOSS TO 17560

 

WORLD MARKETS

 

US indices plunged 1.1%-3.3% as minutes from the Federal Reserve’s December meeting revealed the central bank discussed reducing its balance sheet and also signaled it could get more aggressive in raising rates. Nasdaq saw its biggest one-day loss since February.

 

Data from ADP showed U.S. private payrolls grew by 807,000 in December, more than double the estimate of 375,000.

 

US 10-year treasury yield rose 5 bps to 1.709%. Dollar index was 0.1% off at 96.18. Gold, after hitting an intraday high of $1830, slipped to end 0.3% lower at $1809 per ounce.

 

Brent crude, after hitting a high of 81.48, eased to end 0.1% lower at $80 per barrel. WTI was flat at $77.17.

 

European markets gained 0.2%-0.8%. The IHS Markit euro zone composite PMI came in at 53.3 last month, down from 55.4 in November.

 

AT HOME

 

Sensex and Nifty gained 0.6% and 0.7% respectively, extending the winning streak to fourth straight day. Sensex settled at 60223, up 367 points and reclaimed 60000 mark after 17th November. Nifty added 120 points to finish at 17925. Broader indices however extended the underperformance, with Nifty mid-cap and small-cap indices rising below 0.1%. BSE Bankex and Finance indices soared 2.4% and 1.8% respectively, becoming top gainers among the sectoral indices while IT and Teck indices were the top losers, down 1.9% and 1.5% respectively.

 

FIIs net bought stocks and index futures worth Rs 337 cr and 476 cr respectively but net sold stock futures worth Rs 227 cr. DIIs were net buyers to the tune of Rs 1272 cr.

 

Rupee appreciated 19 paise to end at 74.36/$.

 

OUTLOOK

 

Today morning, Nikkei and Shanghai are down 1.6% and 0.2% respectively while Hang Seng is up a third of a percent. SGX Nifty is suggesting around 120 points lower start for our market.

 

In yesterday's report we had said that 17880, was the next upside level to eye, above which, 18210, the top made in November, would be the next target and that  trading longs could be held on to with the stop-loss of 17430.

 

Nifty soared to touch a high of 17944 before closing at 17925. The benchmark is set to open below 17850 today.

 

18210, the top made in November, is the next upside level to eye; Immediate support on the hourly chart has moved up to 17560, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, above 37900, 38850 and 39250, the 61.8% and 67% retracement level of the entire 41830-34018 fall, would be the next targets; 36200 is the immediate support.

TRAIL STOP-LOSS TO 17430

 

TRAIL STOP-LOSS TO 17430

 

WORLD MARKETS

 

Dow rose 0.6% as shares that stand to benefit from an economic recovery rose while S & P 500 and Nasdaq fell 0.1% and 1.3% respectively amid a rapid rise in Treasury yields.

 

ISM Manufacturing index for December registered a 58.7% reading, below the 60% expectation and a drop from 61.1% in November. Labor Department's Job Openings and Labor Turnover Survey showed workers quit their jobs in record numbers in November.

 

US 10-year treasury yield rose 2 bps to 1.651%. Dollar index inched up 0.1% to 96.28. Spot gold rose 0.8% to 1,814.45 per ounce.

 

Brent crude futures rose 1.1% to $79.87 a barrel while WTI crude rose 1% to $76.89. OPEC and its non-OPEC allies decided to raise its output target by 400,000 barrels per day from next month, as was widely expected.

 

European markets gained 0.8%-1.6%.

 

AT HOME

 

Sensex and Nifty surged 1.1% and 1% respectively, extending the winning streak to third straight day. Sensex settled at 59855, up 672 points while Nifty added 179 points to finish at 17805. Nifty mid-cap and small-cap indices however underperformed by rising just 0.3% each. BSE Power and Utilities indices climbed 2.2% each, becoming top gainers among the sectoral indices while Healthcare index fell the most, down 0.7%, followed by 0.6% lower Realty and Metal indices.

 

FIIs net bought stocks and index futures worth Rs 1274 cr and 703 cr respectively but net sold stock futures worth Rs 1425 cr. DIIs were net buyers to the tune of Rs 533 cr.

 

Rupee depreciated 29 paise to end at 74.55/$.

 

OUTLOOK

 

Today morning, Nikkei is little changed while Hang Seng and Shanghai are down 0.7% and 0.2% respectively. SGX Nifty is suggesting around 35 points lower start for our market.

 

In yesterday's report we had said that 17766 and 17880, the 61.8% and 67% retracement levels of the entire 18604-16410 fall, are the next upside levels to eye and that immediate support on the hourly chart had moved up to 17310, with the stop-loss of which, trading longs could be held on to.

 

Nifty surged to touch a high of 17827 before closing at 17805.

 

17880, the 67% retracement level of the entire 18604-16410 fall, is the next upside level to eye, above which, 18210, the top made in November, would be the next target; Immediate support on the hourly chart has moved up to 17430, with the stop-loss of which, trading longs can be held on to.

 

37200, around which a trendline adjoining recent tops is placed, is the upside level to eye for Banknifty, above which, 37600 and 37900 would be next targets; 35750 is immediate support.

 

STAY LONG WITH THE STOP-LOSS OF 17310

 

STAY LONG WITH THE STOP-LOSS OF 17310

 

WORLD MARKETS

 

US indices gained 0.6%-1.2%, with Nasdaq leading the gains and Dow and S&P 500 notching new record closes.

 

Tesla soared 13.5% after the firm beat fourth-quarter and full-year delivery expectations. Apple became the first ever $3 trillion market capitalization company after rising 2.5% to a new record.

 

US 10-year treasury yield surged 13.7 basis points to 1.637%. Dollar index rose 0.6% to 96.23. Spot gold dipped 1.5% to $1,800.68 an ounce

 

Brent crude fell 42 cents, or 0.5%, to $77.36 a barrel and U.S. West Texas Intermediate (WTI) crude slipped 52 cents or 0.7%, to $74.69.

 

In Europe, FTSE was shut while DAX and CAC gained 0.9% each.

 

AT HOME

 

Benchmark indices soared 1.6% each on the first trading day of the new calendar year and closed at the highest level after 18th November. Sensex settled at 59183, up 929 points while Nifty finished at 17625, up 271 points. Nifty mid-cap and small-cap indices gained 1.1% each. Except 0.2% lower Healthcare index, all the BSE sectoral indices ended in green, with Bankex and Finance indices on the top, up 2.6% and 2.4% respectively.

 

FIIs net bought stocks and index futures worth Rs 903 cr and 662 cr respectively but net sold stock futures worth Rs 346 cr. DIIs were net buyers to the tune of Rs 803 cr.

 

Rupee appreciated 7 paise to end at 74.26/$.

 

India's December manufacturing PMI fell to 55.5 from 57.6 month-on-month.

 

India's trade deficit in December stood at $21.99 bn up from; exports rose 37% y-o-y to a record $37.29 bn while imports rose 38% to record $59.27 bn.

 

OUTLOOK

 

Today morning, Nikkei is up 1.4%, Hang Seng is flat while Shanghai is down half a percent. SGX Nifty is suggesting a flattish start for our market.

 

In yesterday's report we had said that 17500 was the next upside level to eye and had advised holding on to long positions with the stop-loss of 17165.

 

Nifty surged to touch a high of 17646 before closing at 17625.

 

17766 and 17880, the 61.8% and 67% retracement levels of the entire 18604-16410 fall, are the next upside levels to eye; Immediate support on the hourly chart has moved up to 17310, with the stop-loss of which, trading longs can be held on to.

 

37150-37300 is the next target zone for Banknifty; 35400 is immediate support.

 

17500 IS THE NEXT UPSIDE TARGET; 17165 IMMEDIATE SUPPORT

 

17500 IS THE NEXT UPSIDE TARGET; 17165 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices fell 0.2%-0.6% on Friday, the last trading day of the year.

 

US 10-year treasury yield was little changed at 1.512%. Dollar index fell a third of a percent to 95.67. Gold rose 0.8% to $1829 per ounce to hit its highest level since 22 November.

 

Brent crude futures fell 86 cents, or 1.1%, to $78.67 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 80 cents, or 1%, to $76.19 a barrel.

 

In Europe, FTSE and CAC fell a fourth of a percent while DAX was shut.

 

For the week, Dow and S & P 500 gained 1.1% and 0.8% respectively while Nasdaq was little changed. European markets inched up 0.2%-0.9%. In Asia, Nikkei was flat while other markets gained 0.6%-2%, with Nifty on the top.

 

For the year, Dow, S & P 500 and Nasdaq jumped 18.7%, 26.9% and 21.4% respectively , extending the winning streak to third consecutive year. In Europe, FTSE and DAX saw gains of around 15% for the year, while the French CAC logged a rise of nearly 30%.

 

Brent and WTI crude surged nearly 53% and 57% respectively,  the strongest performance for the two benchmark contracts since 2009, when prices soared more than 70%.

 

Dollar index surged neary 7% for its best year since 2015. Gold fell around 4% , marking biggest yearly decline since 2015.

 

AT HOME

 

After a two-day pause, bulls were back in action as Sensex and Nifty climbed 0.8% and 0.9% respectively to close at the highest level after 13th December. Sensex settled at 58253, up 459 points while Nifty added 150 points to finish at 17354. Nifty mid-cap and small-cap indices soared 1.4% each. All the BSE sectoral indices ended in green, with Metal and Consumer Durables indices leading the tally, up 2.1% and 2% respectively.

 

FIIs net bought stocks, index futures and stock futures worth Rs 575 cr, 884 cr and 1140 cr respectively. DIIs were net buyers to the tune of Rs 1166 cr.

 

Rupee appreciated 8 paise to end at 74.33/$.

 

For the week, month and calendar 2020, Nifty gained 2%, 2.2% and 24.1% respectively.

 

India's Core sector growth in November slowed to a 10 month low of 3.1% as against 8.4% registered in October.

 

India's April-November fiscal deficit narrowed to 46.2% of the full-year budged target, helped by a rise in tax collections.

 

Tata Motors reported 24% y-o-y jump in December sales at 66307 units; it's EV sales soared 439% to 2255 units. M & M total sales rose 11% to 39157 units but tractor sales fell 19% to 18369 units. Eicher Motors' Royal Enefield sales rose 7% to 73739 units. Maruti posted 4.4% dip at 1.53 lk units. Hero Motocor sales too fell 12% to 3.94 lk units. Escorts sales plunged 39.45 to 4695 units.

 

OUTLOOK

 

Today morning, Shanghai is up 0.6%, SGX Nifty is suggesting a marginally higher start for our market.

 

In Friday's report we had said that 34-DMA, placed around 17300, was the upside hurdle to eye, upon crossover of which, 17500, where a trendline adjoining tops made in October and November was placed, would be the next upside level to eye. We had also said that 17050 was the immediate support on the hourly chart, with the stop-loss of which, trading longs could be held on to.

 

Nifty crossed 17300 hurdle and touched a high of 17400 before closing at 17354.

 

17500, where a trendline adjoining tops made in October and November is placed, is the next upside level to eye; 20-DMA, placed around 17165, is the immediate support on the way down, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 200-DMA and 20-DMA, placed around 35700 and 35830 are the immediate upside levels to eye; 34750 is the immediate support on the hourly chart.