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Morning Insight Archive

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Date
Title
  • Indian shares closed higher on Friday to snap a two-day losing streak, with financials leading the surge, as global growth worries eased and the rupee strengthened on improved risk sentiment after the release of encouraging services sector data from China.
  • Sentiment also received a boost after China's commerce ministry said that China and the United States would hold vice ministerial level trade talks in Beijing on Jan 7-8.
  • The benchmark 30-share BSE Sensex ended the session up 181.39 points or 0.51 percent at 35,695.10, while the broader Nifty index rose by 55.10 points or 0.52 percent to finish at 10,727.35. Both the indexes ended the week down about 1 percent.
  • Nifty reclaim 10,900 levels in the first two session of last week, but failed to hold on to the momentum and slipped to make weekly low of 10,628 on Friday. The index closed the week with fall of 133 points at 10727.
  • Nifty is hovering between 100 DMA & 50 DMA for past 4 weeks to find direction. In last week’s trading nifty formed bearish candle, but with higher high and higher lows and On last day of week nifty took support and recovered from rising trend line which formed by the recent lows of 10334 and 10535 which indicated some buying on lower levels.
  • Friday NIFTY future was up 0.55% with increase in O I by 5.94%.
  • Put O I addition was seen at 10400 followed by 10700 and Call O I addition was seen at 10700 followed by 11200.
  • As per current option data Immediate Resistance is around 10900 & Major Resistance is around 11000.
  • As per current option data Immediate Support is around 10700 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares fell on Monday to extend losses from the previous session, as weak global cues on the back of political uncertainty in the U.S. dampened investor sentiment.
  • The benchmark BSE Sensex gave up early gains to end the session down 271.92 points or 0.76 percent at 35,470.15 in the holiday-shortened week, while the broader Nifty index dropped 90.50 points or 0.84 percent to 10,663.50.
  • Hindalco, Bajaj Auto, IOC, Hero MotoCorp and JSW Steel fell 3-5 percent in the Nifty pack, while Kotak Bank, Mahindra & Mahindra, Wipro, TCS and Infratel climbed 1-2 percent.
  • Crude oil futures tumbled to settle at their lowest level in about eighteen months on Monday, as concerns over excess supply and falling energy demand continued to push down prices. Crude oil futures for February ended down 6.7%, at $42.53 a barrel, the lowest settlement since mid 2017. In absolute terms, oil's decline today was the steepest in about three months.
  • The Dow plummeted 653  points or 2.9 percent to close below 22000. Nasdaq tumbled 140 points or 2.2 percent and the S&P 500 plunged 65 points or 2.7 percent.
  • Nifty opened on optimistic note on Monday where gap up opening of 26 was witnessed at 10780 levels. But market quickly pared early gain and slipped into red, following last week’s turmoil in US stocks and partial shutdown of US government. Overall index remained in selling pressure for entire session and close with loss of 90 points at 10663 levels.
  • Index in last two sessions has fallen by 314 points and by almost 3% from top of 10985 levels. On daily chart price has formed strong bearish candle and price has decisively slipped below 200 DMA levels which indicates bears has taken firm grip of market. Price is also trading in rising wedge pattern which is also bearish indicator. 
RESEARCH REPORT
  • The Indian stock market ended on an upbeat note on Wednesday, with investors indulging in hectic buying across the board, reacting positively to the results of assembly elections and the appointment of a new governor for the Reserve Bank of India. Rising optimism about U.S. and China agreeing on a trade deal before the 90-day truce period too contributed significantly to market's sharp rise.
  • BSE Sensex soared 629.06 points, or 1.79%, to 35,779.07, while the National Stock Exchange's Nifty50 jumped 188.45 points, or 1.79%, to close at 10,737.60.
  • In the currency market, the rupee weakened to 72.20 against the U.S. dollar before regaining some lost ground and edging up to 71.98, still down from previous close.
  • Mirroring strong buying metals, consumer discretionary, industrials, automobile, capital goods and realty shares, the respective sectoral indices moved up 2 to 4.1% today. Bank, oil, power and FMCG stocks too posted strong gains. Select stocks from healthcare and information technology sectors too gained significant ground in positive territory.
  • Hero Motocorp gained more than 7%, Indiabulls Housing Finance added nearly 7% and Bharti Airtel gained 6.7%. Yes Bank, Adani Ports, Tata Steel, UPL, Eicher Motors, Mahindra & Mahindra, Tata Motors, Bajaj Auto, IOC, ONGC and GAIL India all ended with gains ranging from 3% to 6%. Axis Bank, Vedanta, Larsen & Toubro, Cipla, Hindalco, Bajaj Finance, NTPC, Maruti Suzuki, Coal India and Hindustan Unilever also rose sharply.
  • Yesterday NIFTY future was up 1.91%  with  increase in O I by 0.88%.
  • Put O I addition was seen at 10600 followed by 10700 and  Call O I reduction was seen at 11000 followed by 10500.  
  • As per current option data Immediate Resistance is around 10800 & Major Resistance is around 11000.
  • As per current option data Immediate support is around 10600 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares rose sharply on Friday to broke a three-day losing streak. The benchmark 30-share BSE Sensex ended the session up 361.12 points or 1.02 percent at 35,673.25, while the broader Nifty index jumped 92.55 points or 0.87 percent to finish at 10,693.70.
  • Crude oil prices surged higher on Friday after OPEC and non-OPEC members reached an agreement to cut crude production next year. The proposed reduction of 1.2 million barrels per day, is much more than the anticipated cut of about 1 million barrels per day.
  • After Thursday's drastic stock market global sell-off on growth and trade fears, IMF chief Christine Lagarde allayed investor fears about an economic slowdown. Fears about recession appear to be overdone and the U.S. is not headed for an economic contraction in the near term, she said.
  • Kotak Mahindra Bank shares soared 8.8 percent after media reports suggested that Warren Buffett's Berkshire Hathaway is looking to invest between USD 4 billion and USD 6 billion in the private sector lender by buying promoter stake or through a preferential allotment.
  • Dr Reddy's Laboratories, Asian Paints, Infosys, UltraTech, Bajaj Auto, Bajaj Finance, Adani Ports and Bajaj Finserv surged 2-3 percent.
  • Software services firm HCL Technologies lost 5 percent after it agreed to buy certain software assets from IBM for $1.8 billion.
  • Friday NIFTY future was up 1.02%  with  increase in O I by 9%.
  • Put O I addition was seen at 10500 followed by 10300 and  Call O I addition was seen at 11200 followed by 11100.  
  • As per current option data Immediate Resistance is around 10900 & Major Resistance is around 11000.
  • As per current option data Immediate support is around 10500 & Major Support is around 10200.
RESEARCH REPORT
  • Indian shares fell on Tuesday, as a sharp recovery in oil prices, weakness in rupee and caution ahead of the results of crucial assembly election in five states due on December 11 prompted traders to unlock some profits after a six-day rally.
  • In addition, cues from Asia and Europe were negative as there was some confusion over how the U.S. and China will find common ground on a range of issues in the next three months.
  • The sharp pullback on Wall Street came as the yield on two-year notes rose above the yield on five-year notes, which is seen as an indicator of an upcoming economic slowdown.
  • The benchmark 30-share BSE Sensex ended the session down 106.69 points or 0.29 percent at 36,134.31 while the broader Nifty index dropped 14.25 points or 0.13 percent to 10,869.50.
  • IOC, Indiabulls Housing Finance, UPL, ONGC and BPCL climbed 2-3 percent in the Nifty pack, while SBI, HDFC, Grasim, Mahindra & Mahindra and Sun Pharma lost 1-3 percent.
  • The rupee was edging lower in the afternoon despite the dollar weakening broadly in international markets on expectations that the Federal Reserve would slow the pace of rate hikes after a December rise.
  • Brent crude prices were up 2.5 percent at $63.23 per barrel in European trade after climbing more than 5 percent in intraday trading on Monday amid Canada's production cuts and expected supply cuts from OPEC at a meeting in Vienna starting on Thursday.
  • Yesterday NIFTY future was down -0.15%  with  increase in O I by 3.68%.
  • Put O I addition was seen at 10800 followed by 10600 and  Call O I addition was seen at 10900 followed by 11200.  
  • As per current option data Immediate Resistance is around 11000 & Major Resistance is around 11200.
  • As per current option data Immediate support is around 10700 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares rose for a sixth consecutive session on Monday, with financials and commodity-related stocks pacing the gainers. While positive global cues helped underpin investor sentiment, the upside remained capped by weak GDP data released on Friday and a surge in oil prices after the U.S. and China announced a ceasefire in their tariffs war.
  • The benchmark 30-share BSE Sensex ended a choppy session higher by 46.70 points or 0.13 percent at 36,241, while the broader Nifty index rose by 7 points or 0.06 percent to 10,883.75.
  • Indiabulls Housing Finance jumped as much as 10 percent to extend gains for a third straight session.
  • Hindustan Unilever jumped 4.7 percent and GlaxoSmithKline Consumer Healthcare rallied 4.1 percent. Unilever said it would buy GlaxoSmithKline's health food and drinks portfolio in India, Bangladesh and 20 other predominantly Asian markets for around $3.8 billion.
  • GAIL, Vedanta, Hindustan Unilever and Yes Bank climbed 4-5 percent while Sun Pharma lost 7.5 percent after reports that market regulator SEBI plans to reopen the probe into the insider trading case against the company and its promoters. Zee Entertainment Enterprises, UPL, Mahindra & Mahindra and HPCL dropped 2-3 percent.
  • Yesterday NIFTY future was up 0.21%  with  increase in O I by 3.07%.
  • Put O I addition was seen at 10500 followed by 11000 and  Call O I addition was seen at 11500 followed by 11100.
  • As per current option data Immediate Resistance is around 11000 & Major Resistance is around 11200.
  • As per current option data Immediate support is around 10700 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares rose sharply on Thursday to extend gains for the fourth straight session as tumbling oil prices, fresh gains in the rupee and dovish comments from U.S. Federal Reserve Chairman Jerome Powell spurred short covering on the last session of November series derivative contracts.
  • The rupee surged by as much as 74 paise to touch 69.88 a dollar in the afternoon, buoyed by expectations that the Fed may pause raising interest rates next year.
  • Oil prices fell below $50 per barrel for the first time in over a year as rising crude stockpiles and fears of a slowdown in global economic growth continued to weigh on prices ahead of next week's OPEC meeting.
  • Investors also remained hopeful for a de-escalation in trade tensions between the U.S. and China at the G20 summit, though a substantive breakthrough is unlikely.
  • BSE Sensex jumped 453.46 points or 1.27 percent to 36,170.41 while the broader Nifty index ended up 129.85 points or 1.21 percent at 10,858.70.
  • BPCL, Dr Reddy's Laboratories, JSW Steel, IndusInd Bank, Hindalco, Bajaj Auto, Kotak Bank and Bajaj Finance climbed 3-4 percent in the Nifty pack, while Tech Mahindra, ONGC and HCL Technologies dropped 1-3 percent.
  • Yesterday NIFTY future was up 1.61%  with  decrease in O I by 24.34%.

  • Put O I addition was seen at 10700 followed by 10800 and  Call O I addition was seen at 10900 followed by 11200. 

  • As per current option data Immediate Resistance is around 11000 & Major Resistance is around 11200.

  • As per current option data Immediate support is around 10700 & Major Support is around 10500.

RESEARCH REPORT
  • Indian shares ended sharply higher on Monday as investors awaited the outcome of a crucial RBI board meeting expected to discuss issues ranging from MSME credit to the central bank's reserves. BSE Sensex climbed 317.72 points to end at over a six-week high of 35,774.88 as investors expected a positive outcome of the RBI meeting. Nifty index ended up by 81.20 points at 10,763.40.
  • The sell-off on Wall Street came amid lingering concerns about the outlook for the global economy along with uncertainty about the potential for a trade deal between the U.S. and China.
  • Crude oil prices moved higher on Monday with traders speculating on a reduction in output towards the end of this year.L ast week, Saudi Arabia had expressed the need for oil producers to cut output by 1 million barrels a day to reduce oil supply in 2019 due to a likely drop in demand for crude oil.
  • Vedanta, IndusInd Bank, Tata Motors and ITC rallied 2-3 percent. Financials came under heavy selling pressure, with SBI, ICICI Bank, Bajaj Finance and Indiabulls Housing Finance losing 1-3 percent. Yes Bank shares jumped as much as 7.8 percent after ICRA affirmed the bank's long-term ratings.
  • Yesterday NIFTY future was up 0.76%  with  increase in O I by 5.67%.
  • Put O I addition was seen at 10700 followed by 10500 and  Call O I reduction was seen at 10700 followed by 10600.  
  • As per current option data Immediate Resistance is around 10800 & Major Resistance is around 11000.
  • As per current option data Immediate support is around 10500 & Major Support is around 10200.
RESEARCH REPORT
  • Indian shares ended a bit lower on Monday as weak global cues prompted traders to book some profits after last week's strong rally. BSE Sensex ended the session down 60.73 points or 0.17 percent at 34,950.92, with strong macro data helping limit the downside. While Nifty index dropped 24.80 points or 0.24 percent to 10,528.20 after surging around 5 percent last week to halt a two-week losing streak.
  • India's private sector expanded at the fastest pace since July on broad-based growth across services and manufacturing, survey data from IHS Markit showed yesterday. The Nikkei composite output index improved from 51.6 in September to 53.0 in October, marking the strongest expansion in private sector activity since July. The Nikkei services PMI climbed to 52.2 from 50.9 a month ago.
  • Indian Oil Corp slumped 5.2 percent after its quarterly profit declined 12.2 percent, missing estimates by a wide margin. Rival BPCL tumbled 3.5 percent and HPCL lost 3 percent. State Bank of India jumped 3.8 percent as it returned to profitability after four quarters on improved asset quality. Punjab National Bank rallied 2.5 percent despite the bank posting a loss of Rs 4,532.35 crore for the September quarter on account of rising bad loans. Axis Bank advanced 2 percent after its quarterly profit surged 83 percent amid improvement in credit quality.
  • Yesterday NIFTY future was down 0.25%  with  increase in O I by 3.3%.

  • Put O I Reduction was seen at 10200 followed by 10000 and  Call O I addition was seen at 11000 followed by 10600. 

  • As per current option data Immediate Resistance is around 10700 & Major Resistance is around 11000. While Immediate support is around 10500 & Major Support is around 10200.

RESEARCH REPORT
  • Indian shares ended a choppy session modestly lower on Tuesday, with pharma and energy companies pacing the decliners, as investors fretted about an escalating trade dispute between the United States and China.
  • U.S. President Donald Trump said he thinks there will be "a great deal" with China on trade, but warned of more tariffs if talks next month fail to ease the trade war.
  • The benchmark 30-share BSE Sensex dropped 176.27 points or 0.52 percent to 33,891.13 after a volatile session of trade. The broader Nifty index ended down 52.45 points or 0.51 percent at 10,198.40.
  • Sun Pharma, Reliance Industries, Coal India, IOC, Cipla, BPCL, IndusInd Bank and HPCL fell 2-5 percent in the Nifty pack, while Dr Reddy's Laboratories, Grasim Industries, Zee Entertainment Enterprises and Tech Mahindra climbed 2-3 percent.
  • PSU lender Union Bank of India soared 8.6 percent after posting turnaround results in the second quarter on the back of lower provisioning. Just Dial jumped 11 percent on reporting a 29 percent increase in quarterly profit.
  • In Tuesday’s session Nifty opened on weaker note at 10239 levels and after negative start price managed to show some recovery and attended intraday high of 10285 levels. But by the end of the session Index gave up some of its previous day’s gain to settle with loss of 52 points at 10198 levels.

  • Expect index to remain in range of 10080 to 10330 level in short term. On downside if 10080 is breached Nifty could fall further towards lower band of falling channel. We advise trader to adopt cautious approach and maintain tight stop loss below 10000 levels.

RESEARCH REPORT

Indian shares rose slightly on Monday to snap a three-day losing streak as oil prices fell sharply and the government said it will not go back on fuel deregulation, helping spur a rally in the battered oil sector.

Oil prices fell below $83 a barrel yesterday after the United States said it is actively considering waivers on sanctions against Iran that will take effect on Nov. 4.

Benchmark Brent crude was down 1.64 percent at $82.78 a barrel after hitting a four-year high of $86.74 last week. U.S.

The Trump administration is "in the midst of an internal process" of considering waivers for countries that are reducing imports of Iranian crude, media reports quoted a U.S. government official as saying.

India, the world's third-biggest oil importer, is expected to buy 9 million barrels of Iranian oil in November, the country's petroleum minister Dharmendra Pradhan said on Monday at an event.

Investors also expect that top exporter Saudi Arabia will steadily increase production to compensate for the Iranian oil that will be subject to U.S. sanctions.

BSE Sensex fluctuated before ending the session higher by 97.39 points or 0.28 percent at 34,474.38. while Nifty index rose by 31.60 points or 0.31 percent to 10,348.05, with Hero MotoCorp, Reliance Industries, IOC, Yes Bank and HPCL climbing 5-9 percent.

Metal and IT stocks fell the most, with Vedanta shares falling more than 10 percent. London aluminum prices fell more than 3 percent after a Brazilian court approved emergency waste measures that could allow the world's biggest alumina refinery to resume production.

Hindalco lost 6.7 percent, Tech Mahindra tumbled 3.4 percent and Wipro dropped 2.4 percent.

RESEARCH REPORT