Trader’s Diary: Avoid taking fresh positions at this time
The domestic equity market ended higher on Tuesday, taking its winning streak to a third straight session. The Sensex ended at 31,924.41, up 77 points while Nifty50 ended firmly above the 10,000 mark.
1 New Update
08:20:36 PM IST, 10 October 2017
ETMarkets Evening Podcast: Will Q2 earnings season be a good one for Dalal Street?
07:47:27 PM IST, 10 October 2017
As none of the technical momentum oscillators generated a sell signal on lower time frame charts, there can be some more leg room on the upside. Moreover, Bank Nifty, which has underperformed for the last couple of trading sessions is slowly creeping upwards and appears to have registered a breakout
- Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in
07:23:11 PM IST, 10 October 2017
We should be building on those gains, which we have already seen in the last six-seven trading sessions. There are two stocks which I am highlighting. First is United Phosphorus. I believe that after today’s move the stock has managed to claw back above its 50-day moving average. The chart patterns are quite attractive. Targets could be kept at Rs 850 on UPL. Traders could look at a fresh buy at current levels and Rs 808 could be the stop loss for the trade. Second is Rashtriya Chemicals Fertilizer. I believe after today’s move there is a slight break out on the momentum indicators chart, especially MACD and ADX, which should result into a 10% to 15% up move for RCF. So a positional buy with a target of 105, stop loss at 89
- Kunal Bothra, Independent Market Analyst
07:07:15 PM IST, 10 October 2017
The big (earnings) numbers that come out this week and going forward, will be about how much earnings can improve. can they improve enough for these valuations to be justified? Obviously no. I would be happy to sit on substantial portion of my portfolio in fixed income funds right now. At some point markets will find a reason to correct themselves, it could be a geopolitical global event, whatever it may be
- Rajat Sharma, CEO, Sana Securities
06:40:29 PM IST, 10 October 2017
Another ‘Doji’ day for the market. Candle carrying shadow on both side, indicates indecisiveness among the participants. Nifty is continuously moving in rising channel on hourly chart and it is heading towards its channel upward resistance of 10,100 in near term. Chart pattern suggests that if Nifty continues to hold the 10,000 level, then we may witness more buying action, which could lead index towards 10,060-10,100 in near term. Also, 9,950 is likely to act as good support for any minor corrective action to come in near term
- Rajesh Palviya, Head – Technical & Derivatives Analyst, Axis Securities
06:18:25 PM IST, 10 October 2017
The index formed a Doji candle for the second day in a row and this candle suggests that bulls and bears are fighting hard near to 10,000 mark. Now it has to continue the formation of higher lows to extend the move towards 10,080 then 10,150 zones, while on the downside support is seen at 9,980 and then 9,950 level
- Chandan Taparia, Technical & Derivative Analyst, Motilal Oswal Securities
05:55:27 PM IST, 10 October 2017
Main indices traded on a positive note but investor’s cautious view on valuation and upcoming earnings season influenced profit booking on every rise. But mid & small cap attracted investor attention led by ease in GST rates and stock specific actions while pharma gained after a series of approvals from USFDA
- Vinod Nair, Head of Research, Geojit Financial Services
05:36:52 PM IST, 10 October 2017
The current range bound movement of the markets will take its course from corporate earnings coupled with the rupee-dollar movement. Geopolitical risks also may weigh, as it is expected that North Korea will opt for another missile test later this week. For tomorrow’s trading session, the market is expected to hover around the same levels with some positive bias as no major news is expected to hit the street
- Rahul Agarwal, Director, Wealth Discovery
05:00:25 PM IST, 10 October 2017
The indices have closed above 10,000 after a long time. Domestic money continues to gush in, adding further impetus to the market. The rupee seems to be strengthening again, which is a positive for the overall sentiment. Overall we remain cautious on the markets and would not advise taking fresh positions at this juncture
- Nikhil Kamath, Co-Founder and Head, Trading, Zerodha
04:43:04 PM IST, 10 October 2017
Domestic indices extended gains backed by a strong rally in IT and pharma midcap stocks. Pressure of the upcoming earnings season kept the investors on the edge which capped further gains, but dipping VIX value indicates that volatility expectations are falling and that investors are not unduly worried
- Anand James, Chief Market Strategist, Geojit Financial Services
03:32:40 PM IST, 10 October 2017
CLOSING BELL | SENSEX, NIFTY END MARGINALLY HIGHER
Biocon, DMart rally 7%, South Indian Bank cracks 6%.
03:29:54 PM IST, 10 October 2017
BOB TO RAISE RS 1,650 CRORE FROM BONDS
State-owned lender Bank of Baroda (BoB) today said it proposes to raise up to Rs 1,650 crore from Additional Tier-I (AT-1) bonds to fund business expansion. Finance committee of the bank today approved issuance of AT-1 capital bonds compliant with Basel III capital norms of Reserve Bank of India for minimum amount of Rs 500 crore with green shoe option, total issuance not to exceed Rs 1,650 crore in one or multiple issuance, BoB said.
03:04:49 PM IST, 10 October 2017
STAY AWAY FROM SOYABEAN FOR NOW; ADOPT SELL ON RISE STRATEGY
Global soyabean production again hit a record in 2017, which was forth year in a row. As per the US Department of Agriculture’s report released in September, global soyabean production in crop year 2017-18 will be 348.44 million tonnes (MT) against 351.44 MT last year.
02:56:19 PM IST, 10 October 2017
CRUDE CAUSING PAIN TO MODI GOVT, BUT GIVING A SMILE TO THESE FIRMS
The spike in crude oil prices may have changed the fiscal equation for the Modi government and causing some headache to the Reserve Bank of India (RBI). It has also made going tough for a whole host of sectors in the domestic economy. But some others are smiling.
02:24:59 PM IST, 10 October 2017
SOUTH INDIAN BANK PLUNGES ON 96% PLUNGE IN Q2 PROFIT
Shares of South Indian Bank plunged over 7 per cent in Tuesday's trade in a knee-jerk reaction to poor set of September quarter results. The lender said its net profit fell 96.07 per cent YoY to Rs 4.32 crore for the September quarter against Rs 110.52 crore in the corresponding quarter last year. The lender made provisions and contingencies of Rs 453.68 crore in the September quarter, compared with Rs 224.31 crore in June quarter and Rs 128.33 crore in the September quarter of last year.
01:52:56 PM IST, 10 October 2017
METAL STOCKS LOSE SHINE; VEDANTA, TATA STEEL DECLINE OVER 1%
Metal and mining majors such as Vedanta, Tata Steel, Hindustan Zinc (down 1.04 per cent), Jindal Steel & Power (down 0.89 per cent) and APL Apollo Tubes (down 0.86 per cent) declined up to 1 per cent in Tuesday's trade, dragging the Nifty Metal index lower.
01:47:13 PM IST, 10 October 2017
BOJ GOVERNOR KURODA PLEDGES TO STICK WITH QUANTITATIVE EASING
The Bank of Japan raised its assessment of four of the country's regional economies due to strong exports, consumer spending and construction, an encouraging sign that the broader economy can continue to grow at a healthy pace.
01:33:06 PM IST, 10 October 2017
OPEC SECRETARY GENERAL URGES US SHALE PRODUCERS TO HELP CAP GLOBAL SUPPLY
OPEC's Secretary General Mohammed Barkindo on Tuesday called on U.S. shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the rebalanced market in the medium to long term.
01:25:03 PM IST, 10 October 2017
THESE STOCKS SURGED UP TO 20% TODAY
TVS Electronics (19.99 per cent), Genus Paper & Boards (19.86 per cent), Sanwaria Agro (19.81 per cent), Times Guaranty (19.74 per cent) and Bhandari Hosiery (19.64 per cent) zoomed up to 20 per cent in Tuesday's trade.
01:22:40 PM IST, 10 October 2017
EUROPEAN SHARES FALTER, LVMH RESULTS HELP LUXURY SECTOR SHINE
European shares dipped on Tuesday following a slightly weaker session on Wall Street as stocks tired from a streak of record highs, but strong results from luxury group LVMH helped support stocks across the consumer goods sector.
01:10:28 PM IST, 10 October 2017
OVER 150 STOCKS ARE POISED TO RALLY SOON, MACD CHARTS SUGGEST
The NSE Nifty index extended its gain for the second straight day on Monday with the momentum indicator moving average convergence divergence, or MACD, popularly known for identifying trend reversals, has signalled an upward crossover of 161 stocks. Among the stocks that have seen bullish crossover include IDFC, IDFC Bank, State Bank of India (SBI), Indiabulls Ventures and Tata Steel.
12:54:17 PM IST, 10 October 2017
SMALLCAP STOCKS RISE; TVS ELECTRONICS UP 20%
The BSE Smallcap index was trading up in Tuesday's afternoon trade, backed by gains in stocks such as TVS Electronics (up 20 per cent), Sanwaria Consumer (up 19.93 per cent), India Glycols (up 16.38 per cent) and HSIL (up 13.63 per cent).
12:45:51 PM IST, 10 October 2017
NIKKEI MOVES CLOSER TO 21-YEAR HIGH; KOBE STEEL PLUNGES
Japan's Nikkei share average moved closer to a 21-year high on Tuesday after a three-day weekend as expectations for continued strength in the US economy supported sentiment, but Kobe Steel's shares plunged when it said it had fabricated data.
12:28:27 PM IST, 10 October 2017
MAS FINANCIAL IPO SUBSCRIBED 8.30 TIMES ON DAY 3
MAS Financial IPO was subscribed 8.30 times on the final day of the bidding process on Tuesday. The issue had received bids for 5,91,24,160 shares against the total issue size of 71,24,910 shares, as per NSE data till 12 pm.
12:17:37 PM IST, 10 October 2017
MCX TO LAUNCH OPTIONS TRADING IN GOLD ON DHANTERAS; STOCK DOWN
MCX on Tuesday said it would launch trading in gold options on the day of auspicious Dhanteras, October 17. The commodity exchange has been engaged with the members for a few months now to prepare for the launch of options.
12:06:31 PM IST, 10 October 2017
NIFTY PHARMA INDEX UP; LUPIN, DIVI'S LAB TOP GAINERS
Gains in Lupin (up 2.36 per cent), Divi's Laboratories (up 1.36 per cent), Aurobindo Pharma (up 0.91 per cent), Glenmark Pharmaceuticals(up 0.69 per cent) and Cipla (up 0.50 per cent) were keeping the Nifty Pharma index in the positive zone in Tuesday's trade.
11:52:51 AM IST, 10 October 2017
UP TO 1,700% RETURN IN 5 YEARS; RALLY IN THIS ‘SPECIAL’ SECTOR HAS MORE LEGS
Specialty chemicals, mainly used to add value to finished products and primarily sold on a B2B basis, can also help enhance your portfolio return in the coming years. Already, select stocks from the sector have delivered in excess of 1,000 per cent in last five years. Prospects of the sector are looking bright. Analysts say India has all the drivers in place to focus on specialty chemicals.
11:43:31 AM IST, 10 October 2017
SUVEN LIFE SCIENCES SURGES 7% ON SECURING A PRODUCT PATENT IN NEW ZEALAND
Shares of Suven Life Sciences surged over 7 per cent in Tuesday's trade after the company secured a product patent in New Zealand corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.
11:37:31 AM IST, 10 October 2017
JAPAN'S TOPIX INDEX CLOSES AT HIGHEST LEVEL SINCE JULY 2007
11:27:32 AM IST, 10 October 2017
NIFTY FMCG INDEX TURNS VOLATILE; MARICO, ITC AMONG TOP LOSERS
The Nifty FMCG index appeared volatile in Tuesday's trade as the poor performance of Jubilant Foodworks (down 1.24 per cent), Marico (down 0.43 per cent), ITC (down 0.41 per cent) and Procter & Gamble Hygiene & Healthcare (down 0.21 per cent) weighed on the index.
10:56:08 AM IST, 10 October 2017
INFOSYS UP ON 100% VOTING IN FAVOUR OF NILEKANI'S RETURN
Shares of Infosys advanced climbed over 1 per cent in the morning trade on Tuesday after company's shareholders overwhelmingly backed the return of Nandan Nilekani in postal ballot. Following the development, the stock advanced 1.52 per cent to Rs 937.70 on BSE. It opened at Rs 940 and touched an intraday high and low of Rs 945.85 and Rs 929.10 respectively.
10:55:11 AM IST, 10 October 2017
OVER 15 STOCKS HIT FRESH 52-WEEK LOWS TODAY
Over 15 stocks, such as Tata Tele, Piramal Phytocare, TV Vision, Sri Adhikari, SAB Events & Governance Now Media, Shilpi Cable Tec, Reliance Communications and Kanani Industries touched their fresh 52-week lows on NSE in Tuesday's trade. However, TVS Electronics, Sanwaria Agro, Times Guaranty, Genus Paper & Boards, Salona Cotspin, Store One Retail and The Grob Tea Company were among the stocks that hit their fresh 52-week highs in trade so far.
10:39:39 AM IST, 10 October 2017
BIOCON RALLIES 3% AS USFDA ISSUES CRL FOR PROPOSED BIOSIMILAR
Shares of Biocon advanced over 3 per cent in Tuesday's trade after the US drug regulator issued a complete response letter (CRL) for Mylan's Biologics License Application (BLA) for MYL-1401H, a proposed biosimilar Pegfilgrastim. This product is a part of the biosimilars portfolio being developed jointly by Biocon and Mylan, the company said in a BSE filing.
10:39:30 AM IST, 10 October 2017
OVER 60 STOCKS HIT FRESH 52-WEEK HIGHS
Over 60 stocks, including TVS Electronics, Sanwaria Agro, Times Guaranty, Genus Paper & Boards, Salona Cotspin, Store One Retail and The Grob Tea Company hit their fresh 52-week highs in Tuesday's trade on NSE.
10:39:23 AM IST, 10 October 2017
MAHINDRA & MAHINDRA ADVANCES ON EXPANSION PLANS FOR EV UNIT
Shares of Mahindra & Mahindra advanced in Tuesday's trade after reports that the company is in talks with the Karnataka government for further investments in the state as it looks at expanding capacity in its electric vehicles division Mahindra Electric. Following the development, the stock rose 0.80 per cent to Rs 1,315.35 on BSE. It opened at Rs 1,313 and touched an intraday high and low of Rs 1,317.45 and Rs 1,308.05 respectively, in the first hour of trade.
10:05:16 AM IST, 10 October 2017
LARSEN & TOUBRO GAINS ON BAGGING GOVERNMENT ORDER FOR SMART METERS
Shares of Larsen & Toubro gained in early trade on Tuesday after the company bagged half of the government's order to supply 5 million smart metres for its energy efficiency programme. Following the development, the stock advanced 0.89 per cent to Rs 1,151.05 on BSE. It opened at Rs 1,152 and touched an intraday high and low of Rs 1,155 and Rs 1,150 respectively, in the first hour of trade.
09:45:06 AM IST, 10 October 2017
SAIL, POWER GRID MOST ACTIVE STOCKS IN TERMS OF VOLUME
Shares of SAIL (number of shares traded: 0.12 crore), PowerGrid (0.10 crore), Infosys (0.09 crore) and ICICI Bank (0.08 crore) were trading as the most active stocks in terms of volume in Tuesday's early session. YES Bank (0.07 crore), State Bank of India (0.07 crore), JSW Steel (0.06 crore), Vedanta (0.05 crore), Lupin (0.05 crore), Hindalco Industries (0.05 crore), Reliance Industries (0.04 crore) and Tata Steel (0.04 crore) were also among the most traded stocks on the National Stock Exchange in Tuesday’s session.
09:23:16 AM IST, 10 October 2017
OPENING BELL: NIFTY ABOVE 10K
Sensex rises 100 pts; Nifty above 10K; Lupin up 2%, Infy, L&T 1% each; Tata Tele cracks 9%.
09:02:37 AM IST, 10 October 2017
PRE-OPEN SESSION: SENSEX JUMPS 100 PTS
Sensex jumps over 100 pts, Nifty50 reclaims 10,000 level; pharma stocks gain up to 2%; rupee trades at 65.27 against US dollar.
08:53:36 AM IST, 10 October 2017
SIGNAL FROM SINGAPORE
Nifty futures trading on SGX were down 0.50 points at 10,021.50, indicating a flat start for NSE Nifty index.
08:53:01 AM IST, 10 October 2017
NIFTY TECHNICAL CHARTS
Nifty50 on Monday could not close above 10,000 level on a closing basis and ended near its opening level, forming an indecisive 'Doji' pattern on the daily chart. The index failed to give a decisive break out after Friday's rally, even as it continued to make higher highs-higher lows formation for the sixth consecutive session. The index would now find immediate hurdle at 10,015 level, while a close below 9,959 could trigger short-term sell-off.
Read more at:
http://economictimes.indiatimes.com/articleshow/61014753.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Read more at:
http://economictimes.indiatimes.com/articleshow/61014753.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
08:52:28 AM IST, 10 October 2017
IEX IPO SUBSCRIBED 15% ON DAY 1
The Rs 1,001 crore initial public offering (IPO) by India's leading power trading platform Indian Energy Exchange (IEX) was subscribed 15 per cent on the Day 1 of bidding process.
08:51:54 AM IST, 10 October 2017
MAS FINANCIAL IPO SUBSCRIBED 4.81 TIMES
The initial share sale offer of MAS Financial Services was oversubscribed 4.81 times on the second day of bidding. The IPO, that plans to raise Rs 460 crore, received bids for 3,42,91,872 shares as compared to the total issue size of 71,24,910 shares, as per NSE data.
08:51:29 AM IST, 10 October 2017
RUPEE RISES 2 PAISE AGAINST DOLLAR
Snapping a two-session fall, the rupee eventually ended marginally higher by 2 paise at 65.36 against the American currency in a highly volatile trade amid weak dollar overseas. The dollar index, which measures the greenback's value against a basket of six major currencies, was down at 93.52 after hitting a 11-month high last week.
08:49:29 AM IST, 10 October 2017
CRUDE PRICES TICK HIGHER
Oil prices inched higher on Monday after one of the most bearish weeks in months, propped up by OPEC comments signaling the possibility of continued action to restore market balance in the long term, Reuters reported. Global benchmark Brent crude settled up 17 cents at $55.79 a barrel. Earlier in the session it touched a three-week low of $55.06. It ended last week 3.3 per cent lower, its biggest weekly loss since June 2017.
Read more at:
http://economictimes.indiatimes.com/articleshow/61014753.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Read more at:
http://economictimes.indiatimes.com/articleshow/61014753.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
08:48:07 AM IST, 10 October 2017
US STOCK EDGE LOWER
The Dow Jones Industrial Average declined 0.06 per cent to end at 22,761.07, while the S&P 500 lost 0.18 per cent to 2,544.73 in overnight trade. The Nasdaq Composite dropped 0.16 percent to 6,579.73.
08:44:28 AM IST, 10 October 2017
SENSEX ON MONDAY
BSE Sensex ended the day at 31,846.89, up 32 points or 0.10 per cent while Nifty50 ended at 9,987.70, up 8 points or 0.08 per cent after testing the 10,000-mark in trade.
08:39:19 AM IST, 10 October 2017
Good morning, dear reader! Here’s something to kickstart your trading day
