18252 IS NEXT HURDLE; 17900 IMMEDIATE SUPPORT

 

18252 IS NEXT HURDLE; 17900 IMMEDIATE SUPPORT

 

WORLD MARKETS

 

After gaining 1-1.5%% in the initial trade, Dow and S & P 500 plunged to end lower by 0.3% and 0.1% respectively. Nasdaq ended higher by 0.6%, after rising 2.2% earlier in the session.

 

US 10-year treasury yield fell 2 bps to 3.538%. Dollar index fell 0.7% to 103.18. Gold rose 0.3% to $1872 per ounce.

 

Brent crude settled up 1.4% at $79.65 a barrel and WTI crude rose 1.2% to $74.63.

 

European markets gained 0.3%-1.2%.

 

AT HOME

 

Benchmark indices surged 1.4%, their biggest gain after 11th November. Sensex settled at 60747, up 846 points while Nifty added 241 points to finish at 18101. Nifty mid-cap and small-cap indices rose 0.9% and 0.6% respectively. Except 0.5% lower Consumer Durables index, all the NSE sectoral indices ended higher, with IT index on the top, up 2.8%, followed by 1.4% higher Metal index.

 

FIIs net sold stocks worth Rs 203 cr but net bought index futures and stock futures worth Rs 2179 cr and 1982 cr respectively. DIIs were net buyers to the tune of Rs 1724 cr.

 

Rupee appreciated 36 paise to end at 82.36/$.

 

OUTLOOK

 

Today morning, Nikkei and Shanghai are up 0.9% and 0.5% respectively while Hang Seng is down 0.2%. SGX Nifty is suggesting around 20 points lower start for our market.

 

In yesterday's report we had said that 17774, the low made in December, was the important immediate support to eye while 18085 was the immediate hurdle on the hourly chart, with the stop-loss of which, trading shorts could be held on to.

 

Nifty surged to 18140 before closing at 18101.

 

18252, the top made last week, is the next hurdle to eye; 17900, is the immediate support, below which, 17774, the low made in December, would be next downside level to eye.

 

For Banknifty, 42900-43000 is the immediate resistance zone; 41877, the low made last week, is the immediate support.

 

17774 IS IMPORTANT SUPPORT; 18085 IMMEDIATE HURDLE

 

17774 IS IMPORTANT SUPPORT; 18085 IMMEDIATE HURDLE

 

WORLD MARKETS

 

US indices surged 2.1%-2.6% on Friday after the December jobs report and an economic activity survey showed signs that inflation may be cooling. It was the best day for the Dow and S&P 500 since Nov. 30 and the best for the Nasdaq since Dec. 29.

 

The December nonfarm payrolls report showed that the U.S. economy added 223,000 jobs last month, slightly higher than the expected 200,000 jobs. Wages however grew slower than anticipated, increasing 0.3% on the month where economists expected 0.4%. ISM’s nonmanufacturing PMI showed that U.S. services industry activity contracted for the first time in nearly three years in December.

 

US 10-year treasury yield plunged 16 bps to 3.56%. Dollar index slipped 1.2% to 103.91. Gold climbed 1.8% to $1865 per ounce.

 

Brent futures fell 0.2% to $78.57 a barrel while WTI crude rose 0.1% to settle at $73.77.

 

European markets gained 0.9%-1.5%. Euro zone December inflation eased to 9.2% y-o-y in December from November's 10.1%.

 

For the week, the Dow and S&P 500 each closed up 1.5% while the Nasdaq advanced 1%. European markets surged 3.3%-6%. In Asia Hang Seng and Shanghai soared 6.7% and 2.5% respectively but Nikkei and Nifty fell 0.7% and 1.4% respectively.

 

Both Brent and WTI were down over 8%, their biggest weekly dives to start the year since 2016.

 

AT HOME

 

Repeating Thursday's template, benchmark indices, after rising 0.3% in the initial trade, nosedived a percent from the top to end lower by three fourth of a percent on Friday, extending the losing streak to third straight day and closing at the lowest level after 23rd December. Sensex settled at 59900, down 453 points while Nifty lost 132 points to finish at 17859. Nifty mid-cap and small-cap indices fell 0.8% each. Except marginally higher Consumer Durables and FMCG indices, all the NSE sectoral indices ended in red, with IT and Media indices being the top losers, down 2% and 1.4% respectively.

 

FIIs net sold stocks, index futures and stock futures worth Rs 2902 cr, 72 cr and 354 cr respectively. DIIs were net buyers to the tune of Rs 1083 cr.

 

Rupee depreciated 16 paise to end at 82.72/$.

 

For the week, Sensex and Nifty fell 1.5% and 1.4% respectively, closing in the red for the fourth week in last five.

 

OUTLOOK

 

Nikkei is shut today while Hang Seng and Shanghai are up 1.7% and 0.4% respectively. SGX Nifty is suggesting around 130 points higher start for our market.

 

In Friday's report we had said that 17892, the low made Thursday, was the immediate support, below which, 17774, the bottom made previous week, would be the next downside level to eye. We had also advised holding short positions with the stop-loss of 18140.

 

Nifty broke 17892 and plunged all the way to 17795 before closing at 17859 and is set to open near 17950 today.

 

17774, the low made in December, is the important immediate support to eye. If this level gives way, 17565, the 61.8% retracement level of the 16747-18887 upmove, would be the next downside level to eye. On the way up, 18085 is the immediate hurdle on the hourly chart, with the stop-loss of which, trading shorts can be held on to.

 

For Banknifty, 41569, the low made in December, is the important immediate support to eye. 42900 is the immediate hurdle on the hourly chart, with the stop-loss of which, trading shorts can be held on to.

 

TCS will report it's quarterly earnings today.

 

STAY SHORT WITH THE STOP-LOSS OF 18140

 

STAY SHORT WITH THE STOP-LOSS OF 18140

 

WORLD MARKETS

 

US indices fell 1%-1.5% as strong private jobs and jobless claims data pointed to further rate hikes ahead, a day before Friday’s highly anticipated employment report for December.

 

Data from ADP showed private payrolls rose 235,000 last month, much higher than expected 150,000. Separately, the number of Americans filing new claims for unemployment benefits dropped to a three-month low last week, while layoffs fell 43% in December.

 

Friday's nonfarm payroll data is expected to show an addition of 200,000 jobs last month, a deceleration from gains in the prior month. Average hourly earnings are predicted to have risen 0.4% in December for an annual increase of 5%.

 

US 10-year treasury yield rose 4 bps to 3.72%. Dollar index rose 0.8% to 105.15. Gold fell 1.2% to $1832.50 per ounce.

 

Brent crude rose 1.7% to $79.15 a barrel and WTI crude was up 1.8% at $74.13 a barrel.

 

In Europe, FTSE rose 0.6% but DAX and CAC fell 0.4% and 0.2% respectively.

 

AT HOME

 

After falling more than a percent from the opening top, Sensex and Nifty recouped nearly half of the losses in late noon rebound to end lower by 0.5% and 0.3% respectively. Sensex settled at 60353, down 304 points while Nifty lost 50 points to finish at 17992. Nifty mid-cap index rose half a percent while small-cap index was marginally in the green. Nifty FMCG and Oil & Gas indices gained 1.6% and 1.5% respectively, becoming top gainers among sectoral indices while Financial Services and Bank indices were the top losers, down 1% and 0.8% respectively.

 

FIIs net sold stocks worth Rs 1449 cr but net bought index futures and stock futures worth Rs 1479 cr and 544 cr respectively. DIIs were net sellers to the tune of Rs 194 cr.

 

Rupee appreciated 25 paise to end at 82.55/$.

 

OUTLOOK

 

Today morning, Nikkei is up half a percent while Hang Seng and Shanghai are up 0.1% each. SGX Nifty is suggesting a flattish start for our market.

 

In yesterday's report we had said that a breach of Wednesday's low, 18020, would confirm a "Sell" on the hourly chart, which can take Nifty close to 17774 bottom made last week.

 

Nifty broke 18020 and plunged all the way to 17892 before closing at 17992.

 

17892, the low made yesterday, which roughly coincided with 78.6% retracement level of the recent 17774-18265 upmove, is the immediate support, below which, 17774, the bottom made last week, would be the next downside level to eye; 18140 is the immediate hurdle on the hourly chart, with the stop-loss of which, trading shorts can be held on to.

 

For Banknifty, 42300, the low made yesterday, is the immeidate support, upon breach of which, 41570, the low made made last week, would be next downside level to eye; 43100 is immediate hurdle.

 

TRAIL STOP-LOSS TO 18020

 

TRAIL STOP-LOSS TO 18020

 

WORLD MARKETS

 

US indices rose 0.4%-0.8%, snapping a two-day losing streak, after digesting mixed bag of economic data and minutes of the latest Fed meeting.

 

November’s Job Openings and Labor Turnover, or JOLTS, report showed the job market remained strong but the ISM manufacturing index showed manufacturing activity dropping for a second straight month to 48.4 from 49.0 in November, in the weakest reading since May 2020.

 

Minutes from the Fed’s December meeting showed the central bank remained committed to higher interest rates for “some time.”

 

US 10-year treasury yield fell 6 bps to 3.686%. Dollar index fell 0.4% to 104.26. Gold climbed 0.8% to $1854 per ounce.

 

Brent as well as WTI crude plunged nearly 5% each to $77.84 and $72.84 a barrel respectively.

 

In Europe, FTSE rose 0.4% while DAX and CAC surged 2.2% and 2.3% respectively. Germany's December inflation eased to 9.6% and that of France too slowed to 6.7% from a record high 7.1% in November.

 

AT HOME

 

Benchmark indices plunged 1% each, snapping 2-day winning streak, suffering the worst cut after 23^rd December and closing at the lowest level after 26th December. Sensex settled at 60657, down 636 points while Nifty lost 189 points to finish at 18042. Nifty mid-cap and small-cap indices fell 1.1% and 1% respectively.

 

All the NSE sectoral indices ended in red, with Metal and Realty indices being the top losers, down 2.1% and 2% respectively. JSW Steel and Hindalco were the top Nifty losers, down 4.2% and 4% respectively whereas Divi's Lab and Maruti were the top gainers, up 1.1% and 0.4% respectively. BSE advance-decline ratio stood at 1:1.8.

 

FIIs net sold stocks, index futures and stock futures worth Rs 2621 cr, 2605 cr and 2101 cr respectively. DIIs were net buyers to the tune of Rs 774 cr.

 

Rupee appreciated 8 paise to end at 82.80/$.

 

India's December S & P Global Services PMI hit a 6-month high of 58.5 in December, up from 56.4 in November. Composite PMI rose to 59.4 from 56.7.

 

OUTLOOK

 

Today morning, Asian markets are trading with gains of 0.6%-1.6% and SGX Nifty is suggesting around 40 points higher start for our market.

 

In yesterday's report we had said that 34-DMA, placed around 18390, continued to be next upside target/resistance to eye while 18000-17970 was the immediate support zone, with the stop-loss of which, trading longs could be held on to.

 

Nifty plunged to 18020 before closing at 18042.

 

A breach of yesterday's low, 18020, would confirm a "Sell" on the hourly chart , which can take Nifty close to 17774 bottom made last week; 18265, the top made last week is the immediate hurdle.

 

For Banknifty, 42800-42700 is the immediate supprt area, below which, 42400 would be next downside level to eye; 43600, the 78.6% retracement level of the recent 44151-41569 fall, continues to be immediate hurdle.

 

18400 CONTINUES TO BE UPSIDE LEVEL TO EYE; 17967 CONTINUES TO BE IMMEDAITE SUPPORT

 

18400 CONTINUES TO BE UPSIDE LEVEL TO EYE; 17967 CONTINUES TO BE IMMEDAITE SUPPORT

 

WORLD MARKETS

 

Dow was little changed while S & P 500 and Nasdaq fell 0.4% and 0.8% respectively as shares of Tesla and Apple slipped.

 

Tesla plunged 12%, hitting its lowest level since August 2020, following disappointing fourth-quarter deliveries. Apple dipped 3.7% on reports that it will cut production due to weak demand.

 

Data showed that U.S. construction spending unexpectedly rebounded in November, lifted by gains in nonresidential structures, but single-family homebuilding continued to be hammered by higher mortgage rates.

 

US 10-year treasury yield fell 9 bps to 3.743%. Dollar index rose 1.2% to 104.69. Gold rose 0.8% to $1839 per ounce.

 

China's Caixin purchasing managers’ index showed further declines in factory activity on surging Covid-19 infections.

 

Brent futures for March delivery plunged 4.2% to $82.33 a barrel, the largest daily decline in more than three months. U.S. crude fell 3.9% to $77.15 per barrel, its biggest fall in more than a month.

 

European markets gained 0.4%-1.4%. German consumer prices rose by 9.6% y-o-y in December, which was lower than expected 10.7% rise.

 

AT HOME

 

Benchmark indices inched up a fifth of a percent, extending the winning streak to second straight day and closing at the highest level after 20th December, 2022. Sensex settled at 61294, up 126 points while Nifty added 35 points to finish at 18232. Nifty mid-cap and small-cap indices gained nearly quarter of a percent each. Nifty Consumer Durables Index climbed 1.3%, becoming top gainer among the sectoral indices, followed by 0.8% higher Healthcare, Financial Services and IT indices. Media and Metal indices slipped 0.7% and 0.5% respectively, becoming top losers.

 

FIIs net sold stocks, index futures and stock futures worth Rs 628 cr, 666 cr and 155 cr respectively. DIIs were net buyers to the tune of Rs 351 cr.

 

Rupee depreciated 14 paise to end at 82.88/$.

 

OUTLOOK

 

Today morning, Hang Seng is up 1%, Shanghai is flat while Nikkei is down 1.3%. SGX Nifty is suggesting around 60 points lower start for our market.

 

In yesterday's report we had said that 34-DMA, placed around 18400, continued to be next upside target/resistance to eye while 17967 continued to be immediate support, with the stop-loss of which, trading longs could be held on to.

 

Nifty rose to touch a high of 18252 before closing at 18232.

 

34-DMA, placed around 18390, continues to be next upside target/resistance to eye; 18000-17970 is the immediate support zone, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 43600, the 78.6% retracement level of the recent 44151-41569 fall, continues to be next upside target, above which, 44151, the top made in Mid-December, would be the next level to eye. 42500 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

18400 CONTINUES TO BE UPSIDE LEVEL TO EYE; 17967 CONTINUES TO BE IMMEDIATE SUPPORT

 

18400 CONTINUES TO BE UPSIDE LEVEL TO EYE; 17967 CONTINUES TO BE IMMEDAITE SUPPORT

 

WORLD MARKETS

 

US markets were shut yesterday for New Year Holiday.

 

In Europe, FTSE was shut while DAX and CAC surged 1% and 1.9% respectively. The S&P Global Eurozone Manufacturing PMI rose to 47.8 in December from the previous month's level of 47.1, its highest reading for three months.

 

AT HOME

 

New year started on a positive note as benchmark indices rose half a percent each. Sensex settled at 61167, up 327 points while Nifty added 92 points to finish at 18197. Nifty mid-cap and small-cap indices rose 0.9% and 0.7% respectively. Nifty Metal index climbed 2.4%, becoming top gainer among the sectoral indices, followed by 1.2% higher Media index. Healthcare and Pharma indices were the top losers, down 0.4% each.

 

FIIs net sold stocks and index futures worth Rs 213 cr and 717 cr respectively but net bought stock futures worth Rs 520 cr. DIIs were net buyers to the tune of Rs 743 cr.

 

Rupee depreciated 2 paise to end at 82.74/$.

 

India's December Manufacturing PMI improved to 57.8 from 55.7 month-on-month.

 

 

OUTLOOK

 

Markets in Japan and New Zealand are closed for public holidays. Hang Seng and Shanghai are trading with cuts of 1.2% and 0.3% respectively. SGX Nifty is suggesting nearly 100 points lower start for our market.

 

In yesterday's report we had said that 34-DMA, placed around 18400, continued to be next upside target/resistance to eye; 17967 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

Nifty, after touching a low of 18086, rebounded to end at 18197. The benchmark is set to open near 18100 today.

 

34-DMA, placed around 18400, continues to be next upside target/resistance to eye; 17967 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

For Banknifty, 43600, the 78.6% retracement level of the recent 44151-41569 fall, is the next upside target, above which, 44151, the top made in Mid-December, would be the next level to eye. 42500 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.

18400 CONTINUES TO BE UPSIDE LEVEL TO EYE; 17967 CONTINUES TO BE IMMEDAITE SUPPORT

 

18400 CONTINUES TO BE UPSIDE LEVEL TO EYE; 17967 CONTINUES TO BE IMMEDAITE SUPPORT

 

WORLD MARKETS

 

On Friday, after falling between 1-1.5%, a late surge helped US indices trim the losses to just 0.1%-0.2% on the last session of the year.

 

US 10-year treasury yield rose 6 bps to 3.88%. Dollar index fell half a percent to 103.49. Gold rose half a percent to $1823 per ounce.

 

Brent crude rose 3% to $85.91 a barrel while WTI crude rose 2.4% to $80.26.

 

European markets fell 0.8%-1.5% on Friday.

 

For the week, US indices fell 0.2%-0.6%. European markets eased 0.1%-0.5%. In Asia, Nikkei fell 0.25% but Hang Seng and Shanghai rose 1.5% each while Nifty rose 1.7%.

 

For the year, most of the world markets ended lower with US indices falling the most since 2008. Dow fell 8.8% while S & P 500 and Nasdaq nosedived 19.4% and 33.1% respectively, snapping 3-year winning streak. In Europe, FTSE inched up 1.2% but CAC and DAX fell 9.5% and 12.5% respectively. In Asia, Nifty rose 4.3% but Nikkei, Hang Seng and Shanghai fell 9.4%, 15.5% and 15.1% respectively.

 

For the year, US 10-year treasury yield surged 156% or 237 bps. Dollar index surged 8.2% for its best performance in seven years. Gold was down 0.4%. For the year, Brent gained 10.4% and WTI rose 6.7%.

 

AT HOME

 

After starting 0.4% higher, benchmark indices saw a reversal of these gains through the session to end lower by half a percent each. Sensex settled at 60840, down 293 points while Nifty lost 85 points to finish at 18105. Nifty mid-cap and small-cap indices however gained 0.5% and 0.8% respectively. Nifty PSU Bank and Realty indices climbed 1.5% and 1% respectively, becoming top gainers among the sectoral indices while FMCG index was the top loser, down 0.8%, followed by 0.6% lower Bank and Financial Services indices.

 

FIIs net sold stocks and index futures worth Rs 2951 cr and 1310 cr respectively but net bought stock futures worth Rs 394 cr. DIIs were net buyers to the tune of Rs 2266 cr.

 

Rupee appreciated 8 paise to end at 82.72/$.

 

For the week, Sensex and Nifty gained 1.7% each, snapping a 3-week losing streak. For the calendar 2022, Sensex and Nifty gained 4.4% and 4.3% respectively, marking the seventh straight positive year.

 

OUTLOOK

 

Most of the Asian markets are shut today. SGX Nifty is suggesting around 25 points lower start for our market.

 

In Friday's report we had said that 34-DMA, placed around 18400, continued to be next upside target/resistance while 17967, the low made Tuesday, continued to be immediate support, with the stop-loss of which, trading longs could be held on to.

 

Nifty, after touching a high of 18265, slipped to end at 18105.

 

34-DMA, placed around 18400, continues to be next upside target/resistance to eye; 17967 continues to be immediate support, with the stop-loss of which, trading longs can be held on to.

 

43600, the 78.6% retracement level of the recent 44151-41569 fall, is the next upside target, above which, 44151, the top made in Mid-December, would be the next level to eye. 42400 is the immediate support on the hourly chart, with the stop-loss of which, trading longs can be held on to.