16800 ABOVE 16600; 16100 IS THE IMMEDIATE SUPPORT

 

16800 ABOVE 16600; 16100 IS THE IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices surged 2%-3.6%, with the S & P 500 and Nasdaq Composite rising the most since June 2020 and November 2020 respectively, as commodity prices cooled.

 

WTI crude oil tumbled more than 12%, or $15, to $108.7 per barrel, registering its worst day since Nov. 26 and Brent crude fell 13% or $16.8 to $111.1, for its biggest one-day drop since April 2020.

 

US 10-year treasury yield rose 7 bps to 1.943%. Dollar index plunged 1.1% to 98. Spot gold fell 3.3% to $1,983.96 per ounce.

 

Euorpean markets soared 3.2%-7.9%.

 

AT HOME

 

Sensex and Nifty soared 2.3% and 2.1% respectively, extending the winning streak to second straight day. Sensex settled at 54647, up 1223 points while Nifty finished at 16345, up 331 points. Nifty mid-cap and small-cap indices climbed 2.2% and 2.4% respectively. BSE Energy and Realty indices were the top gainers among the sectoral indices, rising 3.6% and 3.2% respectively whereas Metal and Utilities indices were the top losers, down 0.7% and 0.1% respectively.

 

FIIs net sold stocks and stock futures worth Rs 4819 cr and 179 cr respectively but net bought index futures worth Rs 678 cr. DIIs were net buyers to the tune of Rs 3276 cr.

 

Rupee appreciated 35 paise to end at 76.56/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 1.5%-3.5% and SGX Nifty is suggesting more than 200 points higher start for our market.

 

In yesterday's report we had said that immediate hurdle on the hourly chart had come down to 16400.

 

Nifty soared to touch a high of 16418 before closing at 16345 and is set to open near 16550 today.

 

16600 followed by 16800 are the next upside levels to eye for Nifty; 16100 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

 

34400 is the immediate hurdle for Banknifty, above which, 36000 would be the next upside level to eye; 32950 is the immediate support.

 

16400 IS THE IMMEDIATE HURDLE; 15671 IMMEDIATE SUPPORT

 

16400 IS THE IMMEDIATE HURDLE; 15671 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

US indices fell 0.3%-0.7%, continuing to assess a surge in commodity prices and high inflation while the war in Ukraine continues.

 

Oil prices jumped as President Biden announced a ban on Russian fossil imports including oil in response to the country’s invasion of Ukraine. WTI crude popped as much as 7% before closing 3.6% higher at $123.70 per barrel. Brent jumped 7.7% before closing 4.3% higher at $123.21.

 

US 10-year treasury yield jumped 9 bps to 1.847%. Dollar index eased 0.2% to 99.08. Spot gold surged 2.7% to $2,051 per ounce.

 

In Europe, FTSE inched up 0.1%, DAX was little changed while CAC fell 0.3%.

 

AT HOME

 

After falling more than a percent, benchmark indices reversed and soared 2% from the bottom in late noon trade to end higher by a percent, snapping 4-day losing streak. Sensex settled at 53424, up 581 points while Nifty added 150 points to finish at 16013. Nifty mid-cap and small-cap indices rose 1.2% and 1.5% respectively. BSE Realty and IT indices were the top gainers among the sectoral indices, up 3.2% and 2.4% respectively while Metal and Oil & Gas indices slipped 1.9% and 1% respectively, becoming top losers.

 

FIIs net sold stocks, index futures and stock futures worth Rs 8143 cr, 1008 cr and 987 cr respectively. DIIs were net buyers to the tune of Rs 6490 cr.

 

Rupee appreciated 5 paise to end at 76.91/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.6%-1.1% and SGX Nifty is suggesting a marginally higher start for our market.

 

In yesterday's report we had said that 15600 continued to be next downside level to eye while 16500 was the immediate hurdle on the hourly chart.

 

Nifty, after touching a low of 15671, rebounded to end at 16013.

 

Immediate hurdle on the hourly chart has come down to 16400; 15671, the low made yesterday, is the immediate support.

 

34200 is the immediate hurdle for Banknifty; 32155, the low made yesterday, is immediate support.

 

15150 BELOW 15600; 16500 IS IMMEDIATE HURDLE

 

15150 BELOW 15600; 16500 IS IMMEDIATE HURDLE

 

WORLD MARKETS

 

US indices nosedived 2.4%-3.6% as surging commodity prices on the back of Ukraine-Russia conflict stoked 'stagflation' fears.

 

US 10-year treasury yield rose 5 bps to 1.777%.  U.S. dollar index hit a 22-month high by rising 0.6% to 99.22. Spot gold rose 1.5% to $1,998 per ounce.

 

Oil prices, after hitting multi-year highs, retreated on news that Germany is reluctant to ban Russia energy imports. WTI crude futures, after spiking to $130.50, closed 3.2% higher at $119.40, the highest settle since September 2008. Brent hit a high of $139.13 before closing 4.3% higher at $123.21 per barrel.

 

European markets fell 0.4%-2%.

 

AT HOME

 

Sensex and Nifty tumbled 2.7% and 2.4% respectively, extending the losing streak to fourth straight day and closing at the lowest level after 30 July 2021, marking a 7-month low. Nifty mid-cap and small-cap indices fell 2.4% and 2% respectively. BSE Bankex and Finance indices nosedived 4.6% and 4.4% respectively, becoming top losers among the sectoral indices, while Metal and Telecom indices were the top gainers, up 2.7% and 1.4% respectively.

 

FIIs net sold stocks, index futures and stock futures worth Rs 7482 cr, 1762 cr and 720 cr respectively. DIIs were net buyers to the tune of Rs 5331 cr.

 

Rupee hit a record low against the dollar and ended 80 paise lower at 76.96/$.

 

OUTLOOK

 

Today morning, Hang Seng is up 0.7% while Nikkei and Shanghai are down 0.3% and 0.6% respectively. SGX Nifty is suggesting around 70 points lower start for our market.

 

In yesterday's report we had said that 15600 would be the next downside target below 15900.

 

Nifty, after touching a low of 15711, closed at 15863 and is set to open near 15800 today.

 

15600 continues to be next downside level to eye, upon breach of which, next meaningful support will come only around 15150, where 20-month moving average is placed; 16500 is the immediate hurdle on the hourly chart.

 

32000, the 38.2% retracement level of the entire 16116-41830 upmove, is the next support for Banknifty; 34800 is immediate hurdle.

 

15600 BELOW 15900; 16550 IS IMMEIDATE HURDLE

 

15600 BELOW 15900; 16550 IS IMMEIDATE HURDLE

 

WORLD MARKETS

 

US indices fell 0.5%-1.7% on Friday with Nasdaq leading the losses despite a stronger-than-expected jobs report as worrisome developments in Ukraine weighed on sentiment.

 

Reports indicated that Russian forces had seized Europe's largest nuclear power plant in Zaporizhzhia, Ukraine. The U.S. embassy in Kyiv called the attack a war crime.

 

US economy added 678,000 jobs last month, above the 440,000 expected. The unemployment rate ticked down to 3.8%. Wage growth however was slower-than-expected.

 

US 10-year treasury yield dropped more than 10 bps to around 1.73%. Dollar index rose 0.8% to 98.51 to hit highest level in more than 9 months. Spot gold jumped 1% to $1,954.53 per ounce.

 

Brent futures surged $7.65, or 6.9%, to settle at $118.11 a barrel, while WTI crude rose $8.01, or 7.4%, to settle at $115.68. That was the highest close for Brent since February 2013 and for WTI since September 2008.

 

European markets nosedived 3.5%-6.2% with Italy leadin the losses.

 

For the week, the Dow and S&P 500 slid 1.3% while Nasdaq Composite lost  2.8%. WTI and Brent crude surged 25% and 20% respectively. Gold gained 4.3%.

 

AT HOME

 

Benchmark indices plunged nearly a percent and half, extending the losing streak to third straight session and closing at the lowest level after 6th August 2021. Sensex lost 768 points to settle at 54333 while Nifty finished at 16245, down 252 points. Nifty mid-cap and small-cap indices slipped 2.1% and 1.8% respectively, with the later snapping 4-session winning streak. All the BSE sectoral indices ended in red, with Auto and Metal indices being the top losers, down 3.4% each.

 

Rupee depreciated 25 paise to end at 76.16/$, its lowest since December 15.

 

India's February Services PMI improved to 51.8 from 51.5 month-on-month while composite PMI rose to 53.5 from 53.

 

For the week, Sensex and Nifty fell 2.7% and 2.5% respectively, extending the losing streak to fourth consecutive week and closing at 7-month low.

 

OUTLOOK

 

U.S. Secretary of State Antony Blinken yesterday said Washington and its allies are considering banning Russian oil and natural gas imports. Reacting to this, oil prices have surged today, with  Brent crude futures up 8.5% to $128.15 per barrel and U.S. crude futures up 7.6% to $124.44 per barrel.

 

Today morning, Asian markets are trading with cuts of 0.5%-4.5% with Hang Seng leading the losses. SGX Nifty is suggesting nearly 400 points lower start for our market.

 

In Friday's report we had said that 16203, the bottom made last week, was the downside level to eye, upon breach of which 15900 and 15600 would be next supports.

 

Nifty, after touching a low of 16133, rebounded to end at 16245. The benchmark is set to open below 16000, somewhere around 15850 today.

 

15600, as mentioned on Friday, would be the next downside target below 15900. If 15600 also does not hold, next meaningful support will come only around 15150, where 20-month moving average is placed; 16550 is the immediate hurdle on the hourly chart, with the stop-loss of which, trading shorts can be held on to.

 

For Banknifty, 20-month moving average, placed around 32950, is the downside level to eye; 35600 is the immediate hurdle on the hourly chart.

 

15900 BELOW 16203; 16900 CONTINUES TO BE IMMEDIATE HURDLE

 

15900 BELOW 16203; 16900 CONTINUES TO BE IMMEDIATE HURDLE

 

WORLD MARKETS

 

Dow and S & P 500 fell 0.3% and 0.5% respectively while Nasdaq tumbled 1.6% after a choppy session, as tensions remained high over the Russia-Ukraine crisis.

 

Ukraine’s second biggest city, Kharkiv, suffered heavy bombardment, while Kherson, a key port city in southern Ukraine, came under control of Russian forces.

 

On the data front, US jobless claims for last week came in lower than expected. However, the ISM services PMI showed a slower-than-expected expansion in February.

 

US 10-year treasury yield dipped nearly 3 bps to 1.844%. Dollar index rose 0.4% to 97.73. Spot gold rose 0.4% to $1,933.31 per ounce.

 

WTI and Brent oil prices reversed to end lower after hitting their highest levels since September 2008 and May 2012 respectively. Brent, after touching $119.84, ended 2.2% lower at $110.46 per barrel while WTI crude hit a high of $116.57 before retreating to end 2.6% lower at $107.67 per barrel.

 

European markets plunged 1.8%-3.7%.

 

AT HOME

 

After opening a percent higher, benchmark indices saw a sustained downward move through the session to end lower by two-third of a percent, extending the losing streak to second straight day. Sensex settled at 55102, down 366 points while Nifty lost 108 points to finish at 16498. Nifty mid-cap index fell 0.4% but small-cap index rose 0.4%. BSE Auto and Consumer Discretionary Goods & Services indices were the top losers among the sectoral indices, down 2.2% and 1.4% respectively whereas Utilities and Power indices were the top gainers, up 2.4% and 2.2% respectively.

 

FIIs net sold stocks, index futures and stock futures worth Rs 6645 cr, 712 cr and 410 cr respectively. DIIs were net buyers to the tune of Rs 4799 cr.

 

Rupee depreciated 21 paise to end at 75.91/$.

 

OUTLOOK

 

Today morning, Asian markets are down 0.5%-2.5% and US futures on weak US handover and reports that smoke was visible from a nuclear power plant in Ukraine — the largest in Europe — after Russian troops attacked. SGX Nifty is suggesting more than 200 points lower start for our market.

 

In yesterday’s report we had said that 16900 continued to be immediate hurdle while 16356 followed by 16203, the bottoms made on Monday and last week respectively, continued to be the downside levels to eye.

 

Nifty, after touching a high of 16768, plunged to 16442 before closing at 16498. The benchmark is set to open below 16300 today.

 

16203, the bottom made last week respectively, is the downside level to eye, upon breach of which 15900 and 15600 would be next supports ; 16900 continues to be immediate hurdle.

 

34018, the low made in December, is the downside level to eye for Banknifty, below which 20-month moving average, placed around 33000, would be the next support; 35800 is immediate hurdle.

 

16900 CONTINUES TO BE IMMEDIATE HURDLE; 16356, 16203 ARE THE SUPPORTS

 

16900 CONTINUES TO BE IMMEDIATE HURDLE; 16356, 16203 ARE THE SUPPORTS

 

WORLD MARKETS

 

US indices climbed 1.6%-1.8% after digesting Fed Chari Powell's comments and strong private payroll data.

 

Fed Chairman Powell testified before Congress, saying that rate hikes are likely to begin this month despite the “highly uncertain” impact of the war in Ukraine. He said that he is “inclined” toward a 25-basis point hike and that the Fed would work on, but not finalize, a plan to reduce its balance sheet.

 

Data from ADP showed private companies in the U.S. added 475,000 jobs in February, higher than the expected 400,000. January numbers was also revised upward.

 

US 10-year treasury yield jumped 18 bps to 1.89%. Spot gold fell 1.1% to $1,921.56 per ounce.

 

OPEC and its allies decided to hold production steady despite the dramatic rise in oil prices seen in recent days. WTI crude jumped more than 8% to $112.51 per barrel, the highest level since May 2011. Brent crude rose more than 8% to $113.94 per barrel, the highest level since June 2014.

 

European markets gained 0.7%-1.6%

 

AT HOME

 

Senex and Nifty recouped some of the intraday losses in late trade to end lower by 1.4% and 1.1% respectiely. Sensex settled at 55468, down 778 points while Nifty lost 187 points to finish at 16605. Broader indices outperformed with a flat mid-cap index and half a percent higher small-cap index.

 

BSE Oil & Gas index soared 4.6%, becoming top gainer among the sectoral indices, followed by 1.7% higher Energy index. Auto index and Bankex were the top losers, down 2.9% and 2.2% respectively.

 

FIIs net sold stocks, index futures and stock futures worth Rs 4339 cr, 3245 cr and 1254 cr respectively. DIIs were net buyers to the tune of Rs 3062 cr.

 

Rupee depreciated 36 paise to end at 75.70/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.2%-0.7% and SGX Nifty is suggesting around 30 points higher start for our market.

 

In yesterday's report we had said that 16356 followed by 16203, the bottoms made on Monday and last week respectively, were the downside levels to eye while 16900 continued to be immediate hurdle.

 

Nifty, after touching a low of 16478, rebounded to end at 16605.

 

16900 continues to be immediate hurdle, upon crossover of which, 17027, the upper end of the gap created by last Thursday’s gap-down opening, would be the next upside level to eye; 16356 followed by 16203, the bottoms made on Monday and last week respectively, continue to be the downside levels to eye.

 

34897, the low made yesterday, is the immediate support for Banknifty below which, 34250-34000 would be the next support zone; 36700 is immediate hurdle.

 

16356, 16203 ARE SUPPORTS; 16900 IMMEDIATE HURDLE

 

16356, 16203 ARE SUPPORTS; 16900 IMMEDIATE HURDLE

 

WORLD MARKETS

 

On Monday, Dow and S & P 500 fell 0.5% and 0.2% respectively but Nasdaq gained 0.4% as markets continued to assess Russia-Ukraine conflict. Ukrainian and Russian officials wrapped up a critical round of talks Monday talks aimed at stopping the fighting yielded only an agreement to keep talking.

 

For February, US markets fell 3.1%-3.5%.

 

China’s official manufacturing PMI for February came in at 50.2, beating expectations of 49.9.

 

Yesterday, Oil and Gold prices soared and equities tumbled as Ukraine-Russia conflict intensified. US indices tumbled 1.6%-1.8%.

 

Reports citing satellite imagery said that a long convoy, some 40 miles (65km) long, of Russian military vehicles is heading towards Ukraine’s capital Kyiv.

 

US 10-year treasury yield fell 11 bps to 1.726%. Dollar index jumped 0.7% 97.39. Gold jumped 1.8% to $1,941.51 per ounce.

 

WTI crude jumped to $103.41, for a gain of 8% and Brent ended the day at $104.97 per barrel, for a gain of 7.2%.

 

European markets plunged 1.7%-4.1%.

 

AT HOME

 

After plunging 1.8% in the initial trade, Sensex and Nifty saw a sustained northward move through rest of the session and ended with gains of 0.7% and 0.8% respectively. Sensex settled at 56247, up 388 points while Nifty added 135 points to finish at 16793. Nifty mid-cap and small-cap indices gained 1% and 0.6% respectively. BSE Metal index soared 5.5%, becoming the top gainer among sectoral indices, followed by 2.9% higher Energy index. Auto index and Bankex were the top losers, down 0.6% each.

 

FIIs net sold stocks and index futures worth Rs 3948 cr and 733 cr respectively but net bought stock futures worth Rs 3351 cr. DIIs were net buyers to the tune of Rs 4143 cr.

 

Rupee depreciated 5 paise to end at 75.34/$.

 

OUTLOOK

 

Today morning, Asian markets are trading with cuts of 0.5%-1.8% and SGX Nifty is tradign around 16560, suggesting more than 200 points lower start when compared to Monday's close of Nifty future, 16794.

 

In Monday's report we had said that 16900, around which 200-DMA is also placed, was the immediate hurdle on the hourly chart while 16478, the low made Friday was the immediate support, upon breach of which, 16203, the low made on Thursday, would be the next downside level to eye.

 

Nifty, after touching a low of 16356, rebounded to end at 16793, but is set to open below 16600 today.

 

16356 followed by 16203, the bottoms made on Monday and last week respectively, are the downside levels to eye; 16900 continues to be immediate hurdle, upon crossover of which, 17027, the upper end of the gap created by last Thursday’s gap-down opening, would be the next upside level to eye.

 

34991, the low made last week, is the immediate support for Banknifty; 37000-37300 is the resistance zone.