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Economic Times | 22 Jan, 2020 | 09.02AM IST

Traders' Diary: Follow 'sell on rise' strategy

Sensex extended losses for a second session as investors fretted over subdued Q3 results and IMF slashing India's growth forecast.

!1 New UpdateClick here for latest updates
09:52 PM

Wall Street rally pauses amid China virus outbreak, growth fears

US stock indexes slipped on Tuesday as worries about the fallout from a deadly virus outbreak in China and a gloomy growth outlook from the IMF paused a record-setting rally on Wall Street. The developments soured the mood for U.S. investors returning from a long holiday weekend. Strong data, the signing of the Phase 1 U.S.-China trade deal and an upbeat start to fourth-quarter earnings season had sent the main indexes to fresh highs on Friday.
08:50 PM

Will the bears take back control now?

08:50 PM

Fresh sell signals were generated on MACD chart with a breakdown below the middle Bollinger band. Hence, more damage can be expected if Nifty fails to close above the 12,230 level. Nevertheless, the bulls can expect some respite as Nifty heads into the bullish gap zone between 12,132 and 12,044 levels. The 50-day EMA of 12,070 also falls inside this gap zone. Hence, we can expect strong support in this gap

- Mazhar Mohammad, Chartviewindia.in

08:49 PM

A trade below 12,150 level will accentuate the decline, dragging the index lower to the 12,130-12,040 zone. A sustained trade beyond the 12,230 mark, the 20-DMA, will resume the upward journey and take the Index higher to 12,300-12,370 zone

- Aditya Agarwala, YES Securities

08:48 PM

Nifty’s immediate support is placed in the 12,130-12,050 zone. While the immediate resistance for Nifty is now shifting lower to 12,250 level, the medium-term resistance is placed in the 12,400-12,430 zone

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

07:38 PM

Zee Q3 results: Profit plunges 38% to Rs 349 crore, misses Street estimates

Zee Entertainment missed Street estimates in December quarter results on Tuesday, as it posted a 37.87 per cent slump in consolidated profit at Rs 349.43 crore. Analysts in an ET NOW poll had projected the number at Rs 429 crore. Consolidated revenue of the company also declined 6 per cent to Rs 2,119.60 crore against Rs 2,252.75 crore in the same quarter last year.
07:37 PM

Nifty found support near 12,150 zone. A decisive breach below 12,100 would be a near term negative for the market. Broader market was not in a bad shape. Realty index was the biggest loser in the trade. The upward momentum has weakened and Nifty is vulnerable

- Amit Shah, Technical Research Analyst, Indiabulls Ventures

04:22 PM

Nifty has support near 12,100-12,050 zone and resistance is in 12,230-12,300 range. Current chart structures look weak, and traders can use resistance levels to create shorts on rise

- Rohit Singre, Senior Technical Analyst, LKP Securities

04:19 PM

The bears continued to dominate for a second consecutive session as IMF cut India’s GDP growth forecast to 4.8%. We reiterate our cautious view on the market given stretched valuations and muted start to the earnings season. Going forward, the IMF growth forecast is likely to raise hopes amongst market participants of a big bang Budget. This is likely to drive momentum for some sectors in the coming sessions

- Ajit Mishra, VP - Research, Religare Broking

04:15 PM

Investors are booking profit in midcaps and smallcaps after pre-Budget rally. Some subdued results has triggered a consolidation in the market. We believe this is a rational reaction, which will hold in the short-term and can reverse as per the final outcome of Budget and Q3 results

- Vinod Nair, Head of Research, Geojit Financial Services

03:39 PM

CLOSING BELL: Private banks, ITC drag Sensex 205 pts lower; Nifty below 12,200 as growth concerns haunt; Voda Idea vaults 23%

CLOSING BELL: Private banks, ITC drag Sensex 205 pts lower; Nifty below 12,200 as growth concerns haunt; Voda Idea vaults 23%
03:14 PM

Vodafone Idea, Can Fin Homes, HAL among top 10 NSE gainers

Price as on 21 Jan, 2020 03:14 PM, Click on company names for their live prices.
03:00 PM

The first phase of the US-China trade deal certainly augurs well for the global economy in 2020. The first phase deal is not a substantive one. But more can be expected in 2020 since this is an election year in the US and Trump, though unpredictable, is not likely to do anything that might impact the US economy. The worse than expected slowdown in India is the main reason for the IMF's lowering of global growth. India can be expected to recover starting from Q2 of CY 2020.

- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services on IMF growth forecast

02:58 PM

ICICI Bank introduces cardless cash withdrawal facility through ATMs

Price as on 21 Jan, 2020 02:58 PM, Click on company names for their live prices.
02:34 PM

Axis Bank Q3 results preview: Profit may jump 50%; all eyes on asset quality

Private lender Axis Bank is likely to report robust financial results for the quarter ended December 31 on Wednesday, amid expectations of improvement in net interest income (NII) and stable asset quality. Brokerage Prabhudas Lilladher projects 61 per cent year-on-year (YoY) rise in profit at Rs 2,705.40 crore. NII growth for the quarter is pegged at 13 per cent.
01:25 PM

We have played the global cyclicals and some agri stocks can fall in this space. That is where we see a response rather than in domestic cyclicals

- Aditya Narain, Head of Research, Edelweiss Financial Services

01:18 PM

The first phase of the US-China trade deal certainly augurs well for the global economy in 2020. The first phase deal is not a substantive one. But more can be expected in 2020 since this is an election year in the US and Trump, though unpredictable, is not likely to do anything that might impact the US economy. The worse than expected slowdown in India is the main reason for the IMF's lowering of global growth. India can be expected to recover starting from Q2 of CY 2020.

- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

01:02 PM

Vodafone, Bharti Airtel to be affected as SC rejects AGR review plea: Fitch Ratings

With the Supreme Court rejecting a review of its order that put Rs 1.47 lakh crore liability of past dues on telecom firms, the two incumbents -- Vodafone Idea and Bharti Airtel -- would be particularly affected, Fitch Ratings said on Tuesday. The apex court's ruling will also have significant repercussions for India's banking sector as well as the country's broader economic outlook, it added.
12:43 PM

Info Edge shares rise after Zomato-Uber Eats deal

Price as on 21 Jan, 2020 12:43 PM, Click on company names for their live prices.
12:28 PM

PSU shares mixed; NHPC slips over 4%

Shares of PSU were trading on a mixed note in Tuesday's afternoon session. Shares of New Indian Assurance (up 2.68 per cent) , Coal India (up 1.64 per cent) , Bharat Petroleum Corporation (up 1.54 per cent) , Oil & Natural Gas Corporation (up 0.94 per cent) were the top gainers.
11:59 AM

Anil Ambani-led companies' stocks drag lower

Price as on 21 Jan, 2020 11:59 AM, Click on company names for their live prices.
11:46 AM

Mitsubishi UFJ Financial sells 2.10% shares in Cipla

Japan's Mitsubishi UFJ Financial Group (MUFG) has sold 2.10 per cent shares in Cipla Ltd, according to a regulatory filing. "MUFG has sold an indirect interest in Cipla Ltd on account of sale of the following entities: First State Investment Management (UK) Ltd, First Sentier Investors (Australia) IM Ltd, First Sentier Investors (Australia) RE Ltd...on January 17, 2020," the homegrown pharma major said in a BSE filing.
11:35 AM

Asia shares feel a chill as China virus risks mount

Asian shares took a sudden turn for the worse on Tuesday as mounting concerns about a new strain of corona virus in China sent a ripple of risk aversion through markets, Reuters reported.
11:28 AM

JUST IN: Rakesh Jhunjhunwala raises Fortis stake to 2.65% in Q3 vs 1.66% in Q2

11:12 AM

Federal Bank shares up nearly 3% post Q3 results

Shares of Federal Bank on Tuesday rose nearly 3 per cent after the lender posted a 32.1 per cent increase in net profit to Rs 440.64 crore for December 2019-20 quarter. In early morning session, the stock surged 2.71 per cent to Rs 96.35 on the BSE. On the NSE, it touched a high of Rs 96.40, up 2.82 per cent over previous close.
11:09 AM

One could possibly include the retail-focussed banks like ICICI and even SBI and Bajaj Finance on NBFC side. These fit well into this kind of environment where technology is used extensively and at the same time, risk is measured properly. Though expensive, these are better picks compared to others.

- Deven Choksey

11:03 AM

FPIs cut stake in Infy, raise in TechM, TCS

Foreign fund managers have cut their stake in Infosys by 1.7 per cent between September-end and December-end, at a time when two whistleblower complaints hit the software major. In comparison, during the same period, these fund managers increased their stakes by 2.6 per cent in Tech Mahindra and 0.4 per cent in TCS, while in Wipro and HCL Tech their stakes were almost unchanged, latest shareholding analysis of the five IT majors showed.
10:41 AM

AGR Case

CJI says to leave it to Justice Mishra-led bench to decide the date of hearing in the case
10:37 AM

USFDA inspects Alembic Pharma's facility in Karkhadi, Gujarat

Drug firm Alembic Pharmaceuticals on Tuesday said the US health regulator has conducted an inspection at its facility in Karkhadi, Gujarat. At the end of the inspection, the USFDA issued a form 483 with two observations, the drug firm said in a filing to BSE. The shares of the company were trading at Rs 600.30 a piece on BSE in morning trade, up 0.26 per cent from the previous close. (Source: PTI)
10:10 AM

NBCC climbs 2% on bagging Rs 720 order from CCL

Shares of NBCC climbed 2 per cent in Tuesday's trade after the state-owned firm bagged a Rs 720-crore contract from Central Coalfield (CCL) to manage the construction of a township project in Jharkhand. The company made the announcement post market hours of Monday.

In a regulatory filing, NBCC said it "has received a letter of acceptance from CCL to provide project management consultancy (PMC) services for construction of smart township/colony roads, network and other road, services buildings and other allied jobs related to mines for Magadh and Amrapali area, Jharkhand.
10:09 AM

Vodafone Idea jumps 15% as telcos seek modification in AGR ruling

Shares of Vodafone Idea jumped 15 per cent in Tuesday’s trade after the telecom maker approached the Supreme Court in a bid to delay payments that are due Thursday. The operator wants to negotiate conditions and schedules for payment of statutory dues with the Department of Telecommunications (DoT), according to their petitions.

It told the court that if no relief is forthcoming, it will have to shut. The stock rose 15.02 per cent to hit a high of Rs 5.59 on BSE.
10:03 AM

Anil Kumar Goel's top buys & sells for Q3

Anil Kumar Goel's top buys & sells for Q3
10:02 AM

Ashish Kacholia's top buys & sells for Q3

Ashish Kacholia's top buys & sells for Q3
10:01 AM

Radhakishan Damani's top buys & sells for Q3

Radhakishan Damani's top buys & sells for Q3
10:01 AM

Dolly Khanna's top buys & sells for Q3

Dolly Khanna's top buys & sells for Q3
10:01 AM

Rakesh Jhunjhunwala's top buys & sells for Q3

Rakesh Jhunjhunwala's top buys & sells for Q3
09:37 AM

Sensex drops 200 points, Nifty below 12,200

09:27 AM

Vodafone Idea, YES Bank, IDFC First Bank among most active stocks on NSE

Price as on 21 Jan, 2020 09:27 AM, Click on company names for their live prices.
09:19 AM

OPENING BELL: Sensex drops 200 points, Nifty below 12,200; Voda Idea surges 13%, Just Dial falls 3%

OPENING BELL: Sensex drops 200 points, Nifty below 12,200; Voda Idea surges 13%, Just Dial falls 3%
08:52 AM

Singapore trading sets stage for negative start

Nifty futures on the Singapore Exchange traded 62.50 points, or 0.51 per cent, lower at 12,210, indicating a negative start for Dalal Street.
08:52 AM

Tech view: Nifty forms bearish Engulfing candle

The index formed a large bearish candle that engulfed all the candles formed in last few days, and thus creating a Bearish Engulfing Pattern on both daily and weekly charts. The index also formed a Black Marubozu on the daily chart, adding further to the bearishness. If the index sees a negative start on Tuesday, it will confirm the weakness.
08:52 AM

Asian shares lurch lower

Asian shares took a sudden lurch lower on Tuesday as a ripple of risk aversion swept markets, though analysts could find no obvious trigger for the move. While the trigger was uncertain, the price action was clear enough with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.9 per cent. Japan's Nikkei lost 0.8 per cent and Shanghai blue chips shed 0.9 per cent. E-Mini futures for the S&P500 eased 0.3 per cent.
08:52 AM

US stocks shut overnight

US stocks were closed on Monday on account of Martin Luther King, Jr. Day. On Friday, the Dow Jones Industrial Average was up 50.46 points, or 0.17 per cent, to close at 29,348.10 on Friday. The S&P 500 rose 12.81 points, or 0.39 per cent, to 3,329.62. The Nasdaq Composite Index increased 31.81 points, or 0.34 per cent, to 9,388.94
08:51 AM

Oil prices rise further

Oil prices rose on Tuesday after Libya declared force majeure on two major oilfields following a military blockade and protests escalated in Iraq, raising supply concerns. Brent crude was trading up 11 cents, or 0.2 per cent, at $65.31 per barrel. US West Texas Intermediate crude futures were up 20 cents, or 0.3 per cent, at $58.74 a barrel.
08:51 AM

DIIs sell Rs 1,419 crore worth stocks

Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 5.87 crore on Monday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 1,419.85 crore, data suggests.
08:51 AM

Sensex on Monday

The 30-share Sensex closed 0.99 per cent or 416 points lower at 41,529, while the 50-share Nifty closed 0.98 per cent or 122 points lower at 12,231.
08:50 AM

Good morning, dear reader! Here's something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day
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