Our twin momentum oscillators, which usually have higher accuracy in catching short-term turning points, are in sell mode. We advise traders to refrain from maintaining or creating fresh long positions at this juncture
- Mazhar Mohammad, Chartviewindia.in
Nifty formed a bearish candle on the daily scale, as it closed below the opening levels. The index has been forming higher highs and lows for last three sessions. On an immediate basis, the index has to hold above 11,280 to extend its upward move towards the 11,400-11,450 zone, while on the downside, support exists at 11,280 and then 11,222 levels
- Swati Kulkarni, Executive Vice President and Fund Manager – Equity, UTI AMC
The near-term trend of Nifty is positive amid a rangebound movement. Still there is no convincing indication of any downward reversal pattern at the highs. Immediate resistance to be watched at 11,450 levels
If the index breaks below 11,300 level, it would witness selling which would take it towards 11,270-11,230. Nifty is trading above 20, 50 and 100-day SMAs which are important short-term moving averages, indicating a positive bias in the short to medium term. The daily strength indicator RSI continues to remain in the positive terrain, indicating sustained strength whereas momentum oscillator Stochastic continue to remain flat indicating a possible consolidation in the near term
For the rally to sustain, we will need to see revival in private capex, and earnings growth coming back. After the carnage in the midcap and smallcap spaces, one can see some bounceback in these segments. We advise clients to remain cautious in these segments and buy into names where valuations remains reasonable and earnings growth is visible. We continue to remain selective and prefer stocks such as Atul, Granules India and Bata India
- Hemang Jani, Head - Advisory, Sharekhan
Market was rangebound and ended on a flat note while FIIs continued to pour liquidity into the domestic market. RBI's new mechanism to pump additional liquidity of $5 billion through foreign exchange swap from banks is likely to boost loan growth. Bank Nifty hit a record high with the possibility that RBI may consider a rate cut on the back of moderate inflation and slowdown in growth
- Vinod Nair, Head of Research, Geojit Financial Services
We're seeing pre-election rally in anticipation of a stable government. The recent bargain hunting in midcap and smallcap space has further strengthened the move. Indications are still favourable from private banking majors along with select heavyweights from other indices. We advise continuing with buy-on-dips approach. Nifty has next major hurdle at 11,525
- Jayant Manglik, President - Retail Distribution, Religare Broking
CLOSING BELL: Sensex, Nifty take a breather, end flat; NBCC, PCJ jump 7% each, NTPC gains 3%
Day 2: MSTC IPO subscribed 8% so far
The initial public offer (IPO) by Miniratna MSTC received tepid response so far on Day 2. The issue received bids for 13,67,100 shares by 1.40 pm, which was 8 per cent of the total issue size of 1,76,70,400. At the upper price band of Rs 121-128 per share, the issue size stands at Rs 226 crore.
Top 5 BSE gainers
Price as on 14 Mar, 2019 03:02 PM, Click on company names for their live prices.
Most Asian currencies weakened against the dollar on Thursday, as investors grappled with a slew of economic data from the region's largest trading partner, China, while uncertainty over a U.S.-Sino trade deal continued to weigh on risk appetite.
There can be some volatility but the way political events have been played out, my sense is heightened volatility may not be there. As long as the market runs up, we have to be ready for some volatility, but I would say with confidence that heightened volatility may not be there in the run up to May 23rd.
- Gopal Agrawal, DSP Investment Managers
IDBI Bank board to mull Rs 4,000 crore bond borrowing limit
IDBI Bank said its board will meet on Tuesday, March 19, 2019 to consider the proposal for approval of rupee bond borrowing limit of Rs 4,000 crore for FY 2019-20.
A flurry of blockbusters is expected to help multiplexes record robust results for the March 2019 quarter. The net box office collections increased by 34 per cent year-onyear to Rs 1,358.7 crore in the March 2019 quarter following the success of films in Hindi, Hollywood and regional segments such as Simmba, Uri: The Surgical Strike, Gully Boy, Manikarnika: The Queen of Jhansi, Captain Marvel, Petta and Vishwam.
WPI inflation rises to 2.93 pc in Feb
Inflation based on wholesale prices rose to 2.93 per cent in February over the previous month due to hardening of prices of primary articles, fuel and power, according to government data released Thursday.
The Wholesale Price Index (WPI) based inflation stood at 2.76 per cent in January, 2019.
WPI inflation stood at 2.74 per cent during February 2018.
Azim Premji has just made it to the club of top global philanthropists. How do you rate India Inc as a whole when it comes to giving back to society?
Top 10 NSE losers
Price as on 14 Mar, 2019 12:19 PM, Click on company names for their live prices.
Snapping their winning run of eight straight sessions, shares of Manpasand Beverages cracked 9 per cent in Thursday's session. Shares of the company traded 5.10 per cent down at Rs 121 on BSE around 10:40 am. In the last eight sessions, the stock had surged by a whopping 73 per cent.
Yes Bank breaks resistance at Rs 245; may test Rs 275
Shares of Yes Bank gained as much as 3.97 per cent and broke above a resistance at Rs 245
Resistance at Rs 245 is identified as the 38.2 per cent Fibonacci retracement level of the downtrend from Aug. 20, 2018 high to Nov. 29, 2018 low
Stock also broke above its 200-day exponential moving average (EMA), seen as a bullish sign
Breakout suggests, in the near term stock may rise up to the next resistance at Rs 275.35, the 50 per cent retracement level
Trend Intensity (TI) indicator rises to 31, suggesting a strong uptrend for the stock, MACD is positive and above its signal line
Stock is up 44.2 per cent in the last one month as of Wednesday's close, outperforming the broader NSE Index's 5.1 per cent gains in the same period (Source: Reuters)
DHFL jumps 4% on reports NHB found no deviation in books
Price as on 14 Mar, 2019 10:42 AM, Click on company names for their live prices.
Sensex jumps 100 pts, Nifty50 above 11,400; rupee trades at 69.71 against dollar.
Singapore trading sets stage for flat start
Nifty futures on the Singapore Exchange were trading 0.50 point, or 0.001 per cent, higher at 11,384, indicating a flat start for the Nifty50.
Tech view: Nifty50 forms ‘Hanging Man’ pattern
With a couple of indicators already in the overbought territory, the index is prone to profit taking. The ‘Hanging Man’ pattern appears around the short-term turning points and suggests exhaustion of the ongoing upmove, said Mazhar Mohammad of Chartviewindia.
Bank Nifty may climb further
The Bank Nifty could rally to fresh highs as some of the traders who rolled over their bearish bets to the current (March) series appear to have not squared these off, said derivatives analysts, citing the rising open interest of Bank Nifty futures from the beginning of the present derivatives series.
Asian shares take a breather
Asian shares paused on Thursday as investors awaited data from China for clues about the health of the world’s second largest economy while the pound shot up to near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote. MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed at 522.38 points. Japan’s Nikkei jumped 0.6 per cent while Australian and New Zealand shares each added 0.2 per cent.
Oil prices near four-month highs
Oil prices nudged higher on Thursday to sit just off a four-month high reached in the previous session as investors focused on global production cuts and supply disruptions in Venezuela, Reuters reported. Brent crude oil futures were at $67.61 a barrel, up 6 cents, or 0.1 per cent.
US stocks settle higher
US stocks rose on Wednesday, led by gains in healthcare shares. The Dow Jones Industrial Average index rose 148.29 points, or 0.58 per cent, to 25,702.95, the S&P500 index gained 19.43 points, or 0.70 per cent, to 2,810.95, and the Nasdaq Composite added 52.37 points, or 0.69 percent, to 7,643.41, Reuters reported.
India tops Germany on m-cap charts
In the run-up to the national polls, Dalal Street has edged past Frankfurt on the global market capitalisation leader-board, underscoring the average Indian voter’s confidence that this summer’s balloting would return to power a stable government at the Centre. Europe’s largest economy has a market capitalisation of $2.08 trillion, compared with $2.12 trillion for India, Bloomberg data showed.
MSTC IPO off to a slow start
The initial public offer (IPO) by miniratna MSTC got off to a slow start on Wednesday, with the issue receiving bids for 8,10,180 shares by 5 pm, which was 5 per cent of the total issue size of 1,76,70,400 shares. At the upper price band of Rs 121-128 per, the issue size is Rs 226 crore.
HDFC Bank's m-cap tops Rs 6L cr mark
HDFC Bank has become the third listed entity to achieve a market cap of Rs 6 lakh crore after Reliance IndustriesNSE 1.20 % and TCS. On Wednesday, shares of the country’s largest private bank gained 2.6 per cent to hit an all-time high of Rs 2,226.
FPIs buy Rs 2,722 crore worth of equities
Foreign portfolio investors (FPIs) bought Rs 2,722.28 crore worth of domestic stocks on Wednesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 1,508.14 crore, data suggested.
Sensex on Wednesday
In the end, BSE barometer Sensex climbed 217 points, or 0.58 per cent, to 37,752, with 14 issues advancing and 16 retreating. Its NSE counterpart Nifty rose to 11,342, up 41 points, or 0.36 per cent.
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