Category Archives: Stock Advisory Company

RBI still has room to slash key rate in current fiscal

RbinoteThe Reserve Bank still has room to cut the key policy rate in the current fiscal, veteran banker Naina Lal Kidwai has said, while stressing that banks should pass on the benefits of lower rates to customers, reported PTI. RBI reduced the repo rate by 0.25 per cent to 6 per cent earlier this month, citing reduction in inflation risk. The rate cut was the first in 10 months and brought policy rates to near 7-year low.

“There is clearly room for further rate cuts. But the rate cut from RBI is not good enough. The rate cut has to happen from the way banks engage with industry, and that is a function on how efficient the banks are, what are their NPAs, their losses,” Kidwai told PTI on the sidelines of a conference here. She further said the resolution of non-performing assets (NPAs) or bad loans, going forward, will be a “big positive”.

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Nifty may open on negative note, shed 8 points

nifty-marketF&O Outlook:

Nifty PCR-OI has increased to 0.98 from 0.92. The rise in the ratio may be due to increase in PE of 9700 and decrease in CE of 10500. PE of 9800 and CE of 9900 are the highest number of contracts traded.

 

Opening for the Day:

Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 8 points at the opening bell.

Markets open on a positive note on Wednesday

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.

The Sensex of the BSE after opening at 31,566.24 points, touched a high of 31,602.64 points and a low of 31,504.63 points.

On Monday the Sensex closed at 31,449.03 points. Tuesday was a holiday.

The Sensex is trading at 31,513.07 points up by 64.04 points or 0.20 per cent.

On the other hand, the broader 51-scrip Nifty at the National Stock Exchange (NSE) opened at 9,825.85 points after closing at 9,794.15 points.

The Nifty is trading at 9,819.25 points in the morning.

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OPENING BUZZ

opening-bell-coffee-largeNIFTY FUTURE UP 13.05 @ 9825.65
BANKNIFTY FUTURE UP 21.00 @ 24228.20
SENSEX UP 117.21 @ 31566.24
INR @ 64.29

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INTERNATIONAL MARKET UPDATE

19732193_1463673457020348_3598672489162175125_nGOLD $ 1272.80
SILVER $ 16.645
COPPER $ 2.878
CRUDE $ 47.85
INR 64.29

MARKET MAGNIFY:- COMING WEEK MARKET OVER VIEW

output_HQKCu5Looking at the daily chart, the Nifty has closed below the ‘5 SMA’ along with the negative crossover in MACD.

This is an indication that the index might undergo some consolidation phase in near term. Thus, short term traders should focus on stock-specific moves and trade with proper risk management.

Major Resistance for spot nifty is 10090 and 10210, where support is 9940 and 9820.

Major Support for bank nifty future 24600 and 24100 which is very crucial, where resistance is at 25150 and 25550

Next week bullish movement could be seen in Repco Homes, Jubl Food and Gujrat Flouro.

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Dalal Street week ahead: Risk-reward is bad IT, pharma stocks may do well

asMuch as was expected in our previous weekly note, the domestic equity market witnessed a significant amount of volatility during the week gone by.

Still, the benchmark Nifty50 continued to post modest gains and ended the week with net gains of 51.90 points, or 0.52 per cent on a weekly basis. We still maintain and reiterate that the 10,114 and 10,150 levels will be very critical for the index. Unless these levels are breached significantly on the upside, sustainable upward moves will not be seen.

The 10,150 and 10,230 levels will act as immediate support for the Nifty50 during the forthcoming week. Supports will come in at 9,960 and 9,850 levels.

The Relative Strength Index or RSI on the weekly chart stands at 79.7787 and it has marked a fresh 14-period high. However, we cannot ignore the fact that this indicator remains in a seriously overbought territory. The weekly MACD remains bullish even as it trades above the signal line. No significant formation was observed on candle charts.

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